Atea Pharmaceuticals (NASDAQ:AVIR) Posts Earnings Results, Misses Expectations By $0.08 EPS

Atea Pharmaceuticals (NASDAQ:AVIR) announced its quarterly earnings results on Thursday. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.08), FiscalAI reports.

Atea Pharmaceuticals Price Performance

Shares of AVIR stock traded up $0.32 on Thursday, hitting $5.30. 1,441,378 shares of the company’s stock were exchanged, compared to its average volume of 516,118. Atea Pharmaceuticals has a 12 month low of $2.45 and a 12 month high of $5.34. The company has a 50 day moving average of $4.02 and a 200 day moving average of $3.47. The stock has a market cap of $414.09 million, a P/E ratio of -2.99 and a beta of 0.21.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on AVIR shares. Evercore raised Atea Pharmaceuticals to a “strong-buy” rating in a research note on Friday, November 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Atea Pharmaceuticals in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $6.00.

Institutional Investors Weigh In On Atea Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Rhumbline Advisers lifted its holdings in shares of Atea Pharmaceuticals by 2.6% during the second quarter. Rhumbline Advisers now owns 119,420 shares of the company’s stock worth $430,000 after purchasing an additional 2,977 shares during the period. Jump Financial LLC raised its position in Atea Pharmaceuticals by 36.5% during the 4th 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 last quarter. Bridgeway Capital Management LLC lifted its holdings in Atea Pharmaceuticals by 3.7% during the 4th quarter. Bridgeway Capital Management LLC now owns 148,400 shares of the company’s stock worth $530,000 after buying an additional 5,300 shares during the period. BNP Paribas Financial Markets grew 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 valued at $58,000 after buying an additional 7,286 shares during the last quarter. Finally, Prudential Financial Inc. bought a new stake in shares of Atea Pharmaceuticals in the 2nd quarter valued at about $36,000. Institutional investors own 86.67% of the company’s stock.

About Atea Pharmaceuticals

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.