Atea Pharmaceuticals (NASDAQ:AVIR) Stock Price Down 1.9% – Time to Sell?

Shares of Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) fell 1.9% on Tuesday . The stock traded as low as $3.11 and last traded at $3.14. 325,694 shares changed hands during mid-day trading, a decline of 19% from the average session volume of 400,771 shares. The stock had previously closed at $3.20.

Analysts Set New Price Targets

A number of research firms recently weighed in on AVIR. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Atea Pharmaceuticals in a report on Wednesday, October 8th. Evercore ISI raised shares of Atea Pharmaceuticals to a “strong-buy” rating in a research report on Friday, November 28th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $6.00.

Atea Pharmaceuticals Stock Performance

The company has a market cap of $245.33 million, a P/E ratio of -1.77 and a beta of 0.16. The business has a fifty day simple moving average of $3.13 and a 200 day simple moving average of $3.28.

Atea Pharmaceuticals (NASDAQ:AVIR) last released its quarterly earnings data on Wednesday, November 12th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.07). Equities research analysts expect that Atea Pharmaceuticals, Inc. will post -2.01 EPS for the current year.

Hedge Funds Weigh In On Atea Pharmaceuticals

Several institutional investors have recently made changes to their positions in AVIR. Prudential Financial Inc. bought a new stake in shares of Atea Pharmaceuticals in the 2nd quarter worth approximately $36,000. Johnson Investment Counsel Inc. bought a new position in Atea Pharmaceuticals during the 2nd quarter worth $55,000. BNP Paribas Financial Markets increased its position in Atea Pharmaceuticals by 57.7% in the third quarter. BNP Paribas Financial Markets now owns 19,913 shares of the company’s stock worth $58,000 after buying an additional 7,286 shares during the period. SG Americas Securities LLC acquired a new position in shares of Atea Pharmaceuticals during the third quarter valued at $59,000. Finally, Certified Advisory Corp bought a new position in shares of Atea Pharmaceuticals during the third quarter worth about $71,000. 86.67% of the stock is owned by institutional investors.

About Atea Pharmaceuticals

Atea Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, discovers, develops, and commercializes antiviral therapeutics for patients with viral infections. Its lead product candidate is AT-527, an oral antiviral candidate that is in Phase 3 SUNRISE-3 clinical trial for the treatment of patients with COVID-19.