Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) Sees Significant Increase in Short Interest

Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) was the recipient of a large growth in short interest in July. As of July 15th, there was short interest totalling 2,370,000 shares, a growth of 5.8% from the June 30th total of 2,240,000 shares. Currently, 3.2% of the shares of the stock are short sold. Based on an average daily volume of 261,100 shares, the short-interest ratio is currently 9.1 days.

Insider Activity

In related news, Director Bruce Polsky sold 17,544 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $3.49, for a total value of $61,228.56. Following the sale, the director now owns 65,606 shares in the company, valued at $228,964.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 17.80% of the company’s stock.

Institutional Trading of Atea Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp grew its holdings in shares of Atea Pharmaceuticals by 11.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 266,184 shares of the company’s stock valued at $881,000 after purchasing an additional 26,627 shares during the last quarter. Tidal Investments LLC bought a new position in shares of Atea Pharmaceuticals during the first quarter valued at about $87,000. Jacobs Levy Equity Management Inc. increased its holdings in shares of Atea Pharmaceuticals by 22.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 672,984 shares of the company’s stock worth $2,719,000 after buying an additional 122,447 shares during the period. Public Employees Retirement System of Ohio lifted its stake in shares of Atea Pharmaceuticals by 238.8% in the 1st quarter. Public Employees Retirement System of Ohio now owns 61,033 shares of the company’s stock valued at $247,000 after acquiring an additional 43,021 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Atea Pharmaceuticals by 21.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 67,137 shares of the company’s stock valued at $272,000 after purchasing an additional 11,968 shares during the last quarter. Hedge funds and other institutional investors own 86.67% of the company’s stock.

Atea Pharmaceuticals Price Performance

Shares of NASDAQ:AVIR opened at $3.82 on Wednesday. The company’s fifty day moving average price is $3.60 and its 200-day moving average price is $3.81. Atea Pharmaceuticals has a one year low of $2.77 and a one year high of $4.60.

Atea Pharmaceuticals (NASDAQ:AVIR) last released its earnings results on Tuesday, May 14th. The company reported ($0.75) EPS for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.14). Equities research analysts predict that Atea Pharmaceuticals will post -2.79 EPS for the current fiscal year.

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.