Atea Pharmaceuticals (NASDAQ:AVIR) Hits New 12-Month High – Here’s Why

Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $6.39 and last traded at $6.3460, with a volume of 267649 shares changing hands. The stock had previously closed at $6.15.

Analysts Set New Price Targets

Several analysts have weighed in on AVIR shares. Evercore raised Atea Pharmaceuticals to a “strong-buy” rating in a report on Friday, November 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Atea Pharmaceuticals in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Atea Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $6.00.

Atea Pharmaceuticals Stock Up 4.1%

The firm has a market cap of $510.13 million, a P/E ratio of -3.30 and a beta of 0.21. The business has a fifty day moving average of $4.14 and a 200 day moving average of $3.52.

Atea Pharmaceuticals (NASDAQ:AVIR) last posted its earnings results on Thursday, March 5th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.08). On average, sell-side analysts expect that Atea Pharmaceuticals, Inc. will post -2.01 EPS for the current fiscal year.

Institutional Investors Weigh In On Atea Pharmaceuticals

Several large investors have recently bought and sold shares of the company. Prudential Financial Inc. acquired a new stake in Atea Pharmaceuticals in the second quarter worth $36,000. RFG Advisory LLC acquired a new position in shares of Atea Pharmaceuticals in the 4th quarter valued at $53,000. Jump Financial LLC grew its holdings in shares of Atea Pharmaceuticals by 36.5% in the 4th quarter. Jump Financial LLC now owns 19,113 shares of the company’s stock valued at $68,000 after buying an additional 5,106 shares during the period. Squarepoint Ops LLC bought a new stake in shares of Atea Pharmaceuticals in the 4th quarter valued at $69,000. Finally, BNP Paribas Financial Markets raised its stake in Atea Pharmaceuticals by 57.7% during the 3rd 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. Institutional investors own 86.67% of the company’s stock.

Atea Pharmaceuticals Company Profile

Atea Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of oral antiviral therapeutics targeting RNA viruses. The company’s lead program, AT-527, is a direct-acting nucleotide prodrug licensed from Roche and is being evaluated as a potential treatment for coronavirus disease 2019 (COVID-19). In addition to its COVID-19 efforts, Atea’s pipeline includes other small-molecule candidates for hepatitis C virus and emerging RNA pathogens, leveraging its proprietary nucleotide chemistry platform to address significant unmet medical needs in infectious diseases.

Founded in 2014 and headquartered in Cambridge, Massachusetts, Atea operates research laboratories in the Greater Boston area and conducts clinical studies across North America, Europe and parts of Asia.