Atea Pharmaceuticals (NASDAQ:AVIR) Trading Up 1.6% – Should You Buy?

Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) was up 1.6% on Wednesday . The company traded as high as $5.67 and last traded at $5.61. Approximately 170,313 shares were traded during trading, a decline of 47% from the average daily volume of 320,520 shares. The stock had previously closed at $5.52.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Atea Pharmaceuticals in a research note on Monday. One analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy”.

Atea Pharmaceuticals Stock Performance

The stock has a market capitalization of $435.79 million, a price-to-earnings ratio of -2.82 and a beta of 0.16. The company has a fifty day simple moving average of $5.43 and a 200 day simple moving average of $4.10.

Atea Pharmaceuticals (NASDAQ:AVIR) last announced its earnings results on Thursday, March 5th. The company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.08). As a group, equities analysts predict that Atea Pharmaceuticals, Inc. will post -2.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Rhumbline Advisers lifted its stake in shares of Atea Pharmaceuticals by 2.6% in the 2nd quarter. Rhumbline Advisers now owns 119,420 shares of the company’s stock valued at $430,000 after purchasing an additional 2,977 shares during the period. Peapod Lane Capital LLC lifted its stake in shares of Atea Pharmaceuticals by 1.0% in the 3rd quarter. Peapod Lane Capital LLC now owns 457,216 shares of the company’s stock valued at $1,326,000 after purchasing an additional 4,748 shares during the period. Jump Financial LLC lifted its stake 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 purchasing an additional 5,106 shares during the period. Bridgeway Capital Management LLC lifted its stake in shares of Atea Pharmaceuticals by 3.7% in the 4th quarter. Bridgeway Capital Management LLC now owns 148,400 shares of the company’s stock valued at $530,000 after purchasing an additional 5,300 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in shares of Atea Pharmaceuticals by 57.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 19,913 shares of the company’s stock valued at $58,000 after purchasing an additional 7,286 shares during the period. 86.67% of the stock is owned by institutional investors and hedge funds.

About Atea Pharmaceuticals

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.