Jacobs Levy Equity Management Inc. Lowers Stock Position in Atea Pharmaceuticals, Inc. (NASDAQ:AVIR)

Jacobs Levy Equity Management Inc. decreased its position in shares of Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) by 23.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 390,899 shares of the company’s stock after selling 118,572 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.46% of Atea Pharmaceuticals worth $1,310,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Graham Capital Management L.P. acquired a new position in shares of Atea Pharmaceuticals during the 4th quarter worth approximately $42,000. Bridgeway Capital Management LLC acquired a new position in shares of Atea Pharmaceuticals during the 4th quarter worth approximately $112,000. Intech Investment Management LLC raised its position in shares of Atea Pharmaceuticals by 236.0% during the 4th quarter. Intech Investment Management LLC now owns 35,989 shares of the company’s stock worth $121,000 after purchasing an additional 25,278 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Atea Pharmaceuticals by 27.8% during the 4th quarter. Wells Fargo & Company MN now owns 45,391 shares of the company’s stock worth $152,000 after purchasing an additional 9,865 shares during the last quarter. Finally, HighTower Advisors LLC acquired a new position in shares of Atea Pharmaceuticals during the 4th quarter worth approximately $168,000. Hedge funds and other institutional investors own 86.67% of the company’s stock.

Atea Pharmaceuticals Stock Up 5.8%

AVIR stock opened at $2.74 on Friday. Atea Pharmaceuticals, Inc. has a 52 week low of $2.46 and a 52 week high of $4.15. The company has a market cap of $234.49 million, a price-to-earnings ratio of -1.32 and a beta of 0.17. The business has a fifty day simple moving average of $2.91 and a 200-day simple moving average of $3.09.

Atea Pharmaceuticals (NASDAQ:AVIR) last announced its quarterly earnings results on Monday, May 12th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.16. As a group, analysts expect that Atea Pharmaceuticals, Inc. will post -2.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AVIR has been the subject of several analyst reports. Morgan Stanley cut their price target on Atea Pharmaceuticals from $6.20 to $6.00 and set an “equal weight” rating for the company in a report on Friday, April 11th. William Blair restated an “outperform” rating on shares of Atea Pharmaceuticals in a report on Friday, March 7th.

About Atea Pharmaceuticals

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.