Atea Pharmaceuticals (NASDAQ:AVIR) Trading Down 0.8% – Here’s What Happened

Atea Pharmaceuticals, Inc. (NASDAQ:AVIR)’s stock price was down 0.8% on Tuesday . The stock traded as low as $4.61 and last traded at $4.70. Approximately 341,636 shares traded hands during mid-day trading, a decline of 7% from the average daily volume of 365,661 shares. The stock had previously closed at $4.74.

Analyst Ratings Changes

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

Atea Pharmaceuticals Stock Performance

The stock has a 50-day moving average price of $4.58 and a two-hundred day moving average price of $4.73. The stock has a market capitalization of $377.73 million, a PE ratio of -2.24 and a beta of 0.31.

Atea Pharmaceuticals (NASDAQ:AVIR) last released its earnings results on Tuesday, May 12th. The company reported ($0.57) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.60) by $0.03. As a group, equities analysts predict that Atea Pharmaceuticals, Inc. will post -1.93 earnings per share for the current year.

Institutional Trading of Atea Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the company. Prudential Financial Inc. bought a new position in Atea Pharmaceuticals in the 2nd quarter worth $36,000. RFG Advisory LLC purchased a new stake in Atea Pharmaceuticals in the 4th quarter worth $53,000. Quantinno Capital Management LP bought a new stake in Atea Pharmaceuticals during the first quarter valued at about $86,000. Jump Financial LLC raised its holdings in Atea Pharmaceuticals by 36.5% during the fourth quarter. Jump Financial LLC now owns 19,113 shares of the company’s stock valued at $68,000 after acquiring an additional 5,106 shares during the period. Finally, Squarepoint Ops LLC bought a new stake in Atea Pharmaceuticals during the fourth quarter valued at about $69,000. 86.67% of the stock is currently owned by institutional investors.

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.