CM Management LLC Cuts Position in Atea Pharmaceuticals, Inc. $AVIR

CM Management LLC trimmed its position in Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) by 29.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 355,000 shares of the company’s stock after selling 145,000 shares during the quarter. CM Management LLC’s holdings in Atea Pharmaceuticals were worth $1,267,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Rhumbline Advisers raised its holdings in shares of Atea Pharmaceuticals by 2.6% in the 2nd quarter. Rhumbline Advisers now owns 119,420 shares of the company’s stock worth $430,000 after purchasing an additional 2,977 shares during the period. Peapod Lane Capital LLC raised its holdings 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 worth $1,326,000 after purchasing an additional 4,748 shares during the period. BNP Paribas Financial Markets raised its holdings 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 worth $58,000 after purchasing an additional 7,286 shares during the period. Prudential Financial Inc. purchased a new position in shares of Atea Pharmaceuticals in the 2nd quarter worth about $36,000. Finally, American Century Companies Inc. raised its holdings in shares of Atea Pharmaceuticals by 6.7% in the 2nd quarter. American Century Companies Inc. now owns 173,791 shares of the company’s stock worth $626,000 after purchasing an additional 10,930 shares during the period. 86.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Atea Pharmaceuticals in a report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Atea Pharmaceuticals currently has an average rating of “Moderate Buy”.

Atea Pharmaceuticals Stock Performance

Shares of NASDAQ:AVIR opened at $5.58 on Friday. The company has a market cap of $446.57 million, a P/E ratio of -2.88 and a beta of 0.38. Atea Pharmaceuticals, Inc. has a one year low of $2.45 and a one year high of $6.45. The business’s 50-day simple moving average is $5.52 and its 200 day simple moving average is $4.19.

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). Analysts predict that Atea Pharmaceuticals, Inc. will post -2.09 earnings per share for the current year.

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.