Short Interest in Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) Decreases By 12.9%

Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) was the target of a significant decline in short interest in January. As of January 15th, there was short interest totalling 2,770,000 shares, a decline of 12.9% from the December 31st total of 3,180,000 shares. Approximately 3.7% of the shares of the stock are sold short. Based on an average daily volume of 309,000 shares, the short-interest ratio is currently 9.0 days.

Insider Buying and Selling at Atea Pharmaceuticals

In other news, Director Franklin M. Berger sold 359,606 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $2.85, for a total transaction of $1,024,877.10. Following the completion of the transaction, the director now directly owns 451,897 shares in the company, valued at approximately $1,287,906.45. This represents a 44.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 17.80% of the company’s stock.

Hedge Funds Weigh In On Atea Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the company. Intech Investment Management LLC purchased a new stake in Atea Pharmaceuticals during the 3rd quarter worth about $36,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Atea Pharmaceuticals in the third quarter worth $37,000. China Universal Asset Management Co. Ltd. boosted its stake in Atea Pharmaceuticals by 64.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 16,237 shares of the company’s stock valued at $54,000 after buying an additional 6,343 shares during the period. Zacks Investment Management purchased a new stake in shares of Atea Pharmaceuticals in the 3rd quarter valued at about $80,000. Finally, Virtu Financial LLC purchased a new position in shares of Atea Pharmaceuticals during the third quarter worth about $99,000. 86.67% of the stock is owned by institutional investors.

Atea Pharmaceuticals Stock Performance

Shares of Atea Pharmaceuticals stock traded up $0.07 on Friday, hitting $3.06. The stock had a trading volume of 264,000 shares, compared to its average volume of 435,340. The firm has a market capitalization of $258.45 million, a P/E ratio of -1.48 and a beta of 0.20. Atea Pharmaceuticals has a twelve month low of $2.75 and a twelve month high of $4.60. The stock has a 50 day moving average of $3.23 and a 200 day moving average of $3.45.

Atea Pharmaceuticals (NASDAQ:AVIR) last issued its earnings results on Thursday, November 7th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.13. During the same quarter in the prior year, the business earned ($0.40) EPS. Equities analysts expect that Atea Pharmaceuticals will post -2.01 earnings per share for the current 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.