Atea Pharmaceuticals (NASDAQ:AVIR) Announces Quarterly Earnings Results, Beats Expectations By $0.15 EPS

Atea Pharmaceuticals (NASDAQ:AVIR) announced its quarterly earnings data on Wednesday. The company reported ($0.41) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.15, FiscalAI reports.

Atea Pharmaceuticals Stock Performance

Shares of NASDAQ:AVIR traded up $0.01 during midday trading on Wednesday, reaching $5.06. 292,168 shares of the company’s stock traded hands, compared to its average volume of 422,951. Atea Pharmaceuticals has a one year low of $2.78 and a one year high of $6.45. The company has a market cap of $404.94 million, a price-to-earnings ratio of -2.40 and a beta of 0.30. The stock has a 50 day moving average of $4.65 and a 200 day moving average of $4.90.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Atea Pharmaceuticals in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Atea Pharmaceuticals currently has an average rating of “Moderate Buy”.

Hedge Funds Weigh In On Atea Pharmaceuticals

Hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its stake in Atea Pharmaceuticals by 9.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,540,716 shares of the company’s stock valued at $4,468,000 after acquiring an additional 129,453 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Atea Pharmaceuticals by 118.6% in the fourth quarter. JPMorgan Chase & Co. now owns 1,348,294 shares of the company’s stock worth $4,813,000 after acquiring an additional 731,443 shares during the period. Millennium Management LLC grew its stake in shares of Atea Pharmaceuticals by 43.3% in the fourth quarter. Millennium Management LLC now owns 698,156 shares of the company’s stock worth $2,492,000 after acquiring an additional 210,933 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Atea Pharmaceuticals by 38.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 472,522 shares of the company’s stock valued at $1,687,000 after purchasing an additional 132,382 shares during the last quarter. Finally, Two Sigma Investments LP raised its holdings in shares of Atea Pharmaceuticals by 28.6% during the third quarter. Two Sigma Investments LP now owns 471,293 shares of the company’s stock valued at $1,367,000 after purchasing an additional 104,681 shares during the last quarter. Hedge funds and other institutional investors own 86.67% of the company’s stock.

Atea Pharmaceuticals Company Profile

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.