Atea Pharmaceuticals (NASDAQ:AVIR) Stock Price Up 5.9% – Here’s Why

Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) traded up 5.9% during mid-day trading on Tuesday . The stock traded as high as $5.40 and last traded at $5.38. Approximately 325,173 shares were traded during trading, a decline of 52% from the average daily volume of 671,832 shares. The stock had previously closed at $5.08.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Atea Pharmaceuticals in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $6.00.

Atea Pharmaceuticals Stock Performance

The company has a market capitalization of $428.62 million, a price-to-earnings ratio of -2.77 and a beta of 0.21. The business’s 50-day simple moving average is $4.85 and its 200-day simple moving average is $3.78.

Atea Pharmaceuticals (NASDAQ:AVIR) last issued its quarterly earnings results on Thursday, March 5th. The company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.08). On average, analysts forecast that Atea Pharmaceuticals, Inc. will post -2.01 earnings per share for the current year.

Institutional Trading of Atea Pharmaceuticals

A number of institutional investors have recently bought and sold shares of AVIR. Prudential Financial Inc. bought a new stake in shares of Atea Pharmaceuticals during the 2nd quarter valued at $36,000. RFG Advisory LLC bought a new position in shares of Atea Pharmaceuticals in the 4th quarter worth $53,000. BNP Paribas Financial Markets boosted its position in shares of Atea Pharmaceuticals by 57.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 19,913 shares of the company’s stock worth $58,000 after purchasing an additional 7,286 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Atea Pharmaceuticals during the third quarter worth $59,000. Finally, Jump Financial LLC grew its stake in shares of Atea Pharmaceuticals by 36.5% during the fourth quarter. Jump Financial LLC now owns 19,113 shares of the company’s stock worth $68,000 after purchasing an additional 5,106 shares during the period. 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.