Atea Pharmaceuticals (NASDAQ:AVIR) Shares Down 2.5% – Should You Sell?

Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) traded down 2.5% during trading on Tuesday . The company traded as low as $4.15 and last traded at $4.27. 312,506 shares traded hands during trading, a decline of 10% from the average session volume of 346,335 shares. The stock had previously closed at $4.38.

Analyst Upgrades and Downgrades

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

Atea Pharmaceuticals Trading Down 1.4%

The firm has a fifty day moving average of $5.19 and a two-hundred day moving average of $4.42. The company has a market cap of $336.93 million, a PE ratio of -2.00 and a beta of 0.32.

Atea Pharmaceuticals (NASDAQ:AVIR) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.57) earnings per share for the quarter, topping the consensus estimate of ($0.60) by $0.03. Sell-side analysts expect that Atea Pharmaceuticals, Inc. will post -1.93 EPS for the current fiscal year.

Institutional Investors Weigh In On Atea Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. Prudential Financial Inc. purchased a new stake in Atea Pharmaceuticals in the 2nd quarter worth about $36,000. Quantinno Capital Management LP purchased a new stake in Atea Pharmaceuticals in the 1st quarter worth about $86,000. Sei Investments Co. purchased a new stake in Atea Pharmaceuticals in the 1st quarter worth about $841,000. Empowered Funds LLC purchased a new stake in Atea Pharmaceuticals in the 1st quarter worth about $266,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Atea Pharmaceuticals in the 1st quarter worth about $1,133,000. Hedge funds and other institutional investors own 86.67% of the company’s stock.

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.