Atea Pharmaceuticals (NASDAQ:AVIR) Trading Up 2.1% – What’s Next?

Shares of Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) traded up 2.1% during mid-day trading on Tuesday . The company traded as high as $4.55 and last traded at $4.48. 194,352 shares were traded during trading, a decline of 29% from the average session volume of 273,332 shares. The stock had previously closed at $4.39.

Analyst Ratings Changes

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

Atea Pharmaceuticals Stock Performance

The firm has a market cap of $358.52 million, a P/E ratio of -2.12 and a beta of 0.32. The stock’s 50 day simple moving average is $4.85 and its 200 day simple moving average is $4.55.

Atea Pharmaceuticals (NASDAQ:AVIR) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.57) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.03. As a group, analysts forecast that Atea Pharmaceuticals, Inc. will post -1.93 EPS for the current fiscal year.

Hedge Funds Weigh In On Atea Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. Irenic Capital Management LP bought a new stake in Atea Pharmaceuticals during the 1st quarter worth approximately $1,623,000. Empowered Funds LLC purchased a new stake in shares of Atea Pharmaceuticals in the first quarter worth approximately $266,000. Quantinno Capital Management LP bought a new position in shares of Atea Pharmaceuticals in the first quarter valued at approximately $86,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Atea Pharmaceuticals in the first quarter valued at approximately $1,133,000. Finally, Sei Investments Co. bought a new position in shares of Atea Pharmaceuticals in the first quarter valued at approximately $841,000. Institutional investors and hedge funds 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.