Newtyn Management LLC Purchases 200,000 Shares of Atea Pharmaceuticals, Inc. (NASDAQ:AVIR)

Newtyn Management LLC boosted its position in Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) by 52.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 580,000 shares of the company’s stock after buying an additional 200,000 shares during the quarter. Atea Pharmaceuticals makes up about 0.3% of Newtyn Management LLC’s portfolio, making the stock its 29th biggest position. Newtyn Management LLC owned about 0.69% of Atea Pharmaceuticals worth $1,943,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of AVIR. Graham Capital Management L.P. acquired a new stake in Atea Pharmaceuticals in the fourth quarter valued at approximately $42,000. Millennium Management LLC bought a new position in shares of Atea Pharmaceuticals in the 4th quarter valued at $75,000. Bridgeway Capital Management LLC acquired a new stake in shares of Atea Pharmaceuticals during the 4th quarter valued at $112,000. Intech Investment Management LLC increased its holdings in Atea Pharmaceuticals by 236.0% in the 4th quarter. Intech Investment Management LLC now owns 35,989 shares of the company’s stock worth $121,000 after purchasing an additional 25,278 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in Atea Pharmaceuticals by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 45,391 shares of the company’s stock worth $152,000 after purchasing an additional 9,865 shares in the last quarter. Institutional investors and hedge funds own 86.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. William Blair reaffirmed an “outperform” rating on shares of Atea Pharmaceuticals in a research note on Friday, March 7th. Morgan Stanley decreased their price target on Atea Pharmaceuticals from $6.20 to $6.00 and set an “equal weight” rating for the company in a report on Friday, April 11th.

Atea Pharmaceuticals Price Performance

Atea Pharmaceuticals stock opened at $2.63 on Wednesday. The business has a fifty day moving average price of $2.92 and a 200-day moving average price of $3.11. The firm has a market capitalization of $225.07 million, a P/E ratio of -1.27 and a beta of 0.17. Atea Pharmaceuticals, Inc. has a one year low of $2.60 and a one year high of $4.15.

Atea Pharmaceuticals (NASDAQ:AVIR) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.16. Sell-side analysts expect that Atea Pharmaceuticals, Inc. will post -2.01 earnings per share 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.