Atea Pharmaceuticals (NASDAQ:AVIR) Posts Earnings Results, Misses Expectations By $0.07 EPS

Atea Pharmaceuticals (NASDAQ:AVIR) announced its quarterly earnings results on Wednesday. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.07), FiscalAI reports.

Atea Pharmaceuticals Stock Up 3.6%

Shares of AVIR stock traded up $0.12 during trading hours on Wednesday, reaching $3.50. 1,047,226 shares of the company’s stock were exchanged, compared to its average volume of 379,919. Atea Pharmaceuticals has a fifty-two week low of $2.45 and a fifty-two week high of $4.02. The stock has a market capitalization of $277.76 million, a P/E ratio of -2.17 and a beta of 0.23. The business has a fifty day moving average price of $3.12 and a 200-day moving average price of $3.24.

Analysts Set New Price Targets

AVIR has been the topic of several recent research reports. Wall Street Zen lowered shares of Atea Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Atea Pharmaceuticals in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $6.00.

Hedge Funds Weigh In On Atea Pharmaceuticals

Several large investors have recently bought and sold shares of the stock. Walleye Capital LLC bought a new stake in Atea Pharmaceuticals in the 2nd quarter valued at $208,000. Jane Street Group LLC raised its position in shares of Atea Pharmaceuticals by 80.4% during the first quarter. Jane Street Group LLC now owns 102,607 shares of the company’s stock valued at $307,000 after buying an additional 45,716 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Atea Pharmaceuticals by 80.9% in the second quarter. Bank of America Corp DE now owns 109,739 shares of the company’s stock valued at $395,000 after buying an additional 49,078 shares during the period. Rhumbline Advisers lifted its stake in shares of Atea Pharmaceuticals by 2.6% in the second quarter. Rhumbline Advisers now owns 119,420 shares of the company’s stock valued at $430,000 after buying an additional 2,977 shares during the period. Finally, American Century Companies Inc. grew its position in Atea Pharmaceuticals by 6.7% during the second quarter. American Century Companies Inc. now owns 173,791 shares of the company’s stock worth $626,000 after buying an additional 10,930 shares in the last quarter. 86.67% of the stock is currently owned by institutional investors and hedge funds.

Atea Pharmaceuticals Company Profile

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.