Atea Pharmaceuticals (NASDAQ:AVIR) Price Target Cut to $6.00 by Analysts at Morgan Stanley

Atea Pharmaceuticals (NASDAQ:AVIR) had its target price decreased by Morgan Stanley from $6.20 to $6.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 125.99% from the company’s current price.

Separately, William Blair reiterated an “outperform” rating on shares of Atea Pharmaceuticals in a research note on Friday, March 7th.

Atea Pharmaceuticals Stock Down 1.3 %

AVIR stock traded down $0.04 during mid-day trading on Friday, reaching $2.66. 67,326 shares of the company traded hands, compared to its average volume of 279,125. The firm’s 50 day moving average price is $3.01 and its 200 day moving average price is $3.20. The stock has a market cap of $227.07 million, a price-to-earnings ratio of -1.28 and a beta of 0.17. Atea Pharmaceuticals has a fifty-two week low of $2.60 and a fifty-two week high of $4.15.

Atea Pharmaceuticals (NASDAQ:AVIR) last announced its earnings results on Thursday, March 6th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.05). On average, analysts anticipate that Atea Pharmaceuticals will post -2.01 EPS for the current fiscal year.

Institutional Trading of Atea Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the business. Graham Capital Management L.P. purchased a new stake in shares of Atea Pharmaceuticals during the 4th quarter valued at $42,000. Millennium Management LLC bought a new position in Atea Pharmaceuticals during the fourth quarter valued at about $75,000. ProShare Advisors LLC increased its holdings in Atea Pharmaceuticals by 31.5% during the fourth quarter. ProShare Advisors LLC now owns 25,733 shares of the company’s stock worth $86,000 after buying an additional 6,163 shares during the last quarter. Virtu Financial LLC bought a new stake in Atea Pharmaceuticals in the third quarter worth about $99,000. Finally, Shay Capital LLC boosted its stake in Atea Pharmaceuticals by 72.5% in the fourth quarter. Shay Capital LLC now owns 30,633 shares of the company’s stock valued at $103,000 after acquiring an additional 12,871 shares during the last quarter. 86.67% of the stock is currently owned by institutional investors.

Atea Pharmaceuticals Company Profile

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.