Atea Pharmaceuticals (NASDAQ:AVIR) Issues Earnings Results

Atea Pharmaceuticals (NASDAQ:AVIR) issued its quarterly earnings results on Thursday. The company reported ($0.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.08), FiscalAI reports.

Atea Pharmaceuticals Trading Up 6.4%

Shares of AVIR traded up $0.32 on Thursday, reaching $5.30. 1,441,378 shares of the company’s stock traded hands, compared to its average volume of 516,118. The stock’s 50 day simple moving average is $4.02 and its two-hundred day simple moving average is $3.47. Atea Pharmaceuticals has a 52-week low of $2.45 and a 52-week high of $5.34. The stock has a market cap of $414.09 million, a PE ratio of -2.99 and a beta of 0.21.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Evercore upgraded shares of Atea Pharmaceuticals to a “strong-buy” rating in a report on Friday, November 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Atea Pharmaceuticals in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of AVIR. Alps Advisors Inc. increased its position in Atea Pharmaceuticals by 74.6% in the fourth quarter. Alps Advisors Inc. now owns 64,154 shares of the company’s stock worth $229,000 after buying an additional 27,403 shares during the last quarter. Walleye Capital LLC bought a new position in shares of Atea Pharmaceuticals during the 2nd quarter worth $208,000. Rangeley Capital LLC bought a new position in shares of Atea Pharmaceuticals during the 2nd quarter worth $191,000. Deutsche Bank AG purchased a new stake in Atea Pharmaceuticals in the 4th quarter worth about $188,000. Finally, HRT Financial LP raised its stake in Atea Pharmaceuticals by 154.2% in the 4th quarter. HRT Financial LP now owns 47,891 shares of the company’s stock valued at $170,000 after acquiring an additional 29,049 shares during the period. 86.67% of the stock is owned by institutional investors.

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.