BML Capital Management LLC Sells 431,343 Shares of Atea Pharmaceuticals, Inc. $AVIR

BML Capital Management LLC decreased its position in Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) by 5.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,058,657 shares of the company’s stock after selling 431,343 shares during the period. Atea Pharmaceuticals comprises 24.4% of BML Capital Management LLC’s investment portfolio, making the stock its 2nd biggest position. BML Capital Management LLC owned approximately 8.82% of Atea Pharmaceuticals worth $37,976,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. JPMorgan Chase & Co. grew its position in shares of Atea Pharmaceuticals by 118.6% during the 4th quarter. JPMorgan Chase & Co. now owns 1,348,294 shares of the company’s stock valued at $4,813,000 after acquiring an additional 731,443 shares during the period. Millennium Management LLC raised its holdings in Atea Pharmaceuticals by 179.2% in the 3rd quarter. Millennium Management LLC now owns 487,223 shares of the company’s stock worth $1,413,000 after purchasing an additional 312,733 shares during the period. Bank of America Corp DE raised its holdings in Atea Pharmaceuticals by 185.8% in the 3rd quarter. Bank of America Corp DE now owns 313,644 shares of the company’s stock worth $910,000 after purchasing an additional 203,905 shares during the period. Opaleye Management Inc. purchased a new position in Atea Pharmaceuticals during the fourth quarter worth approximately $642,000. Finally, Goldman Sachs Group Inc. boosted its position in Atea Pharmaceuticals by 38.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 472,522 shares of the company’s stock worth $1,687,000 after purchasing an additional 132,382 shares in the last quarter. Institutional investors and hedge funds own 86.67% of the company’s stock.

Atea Pharmaceuticals Stock Down 2.9%

AVIR opened at $4.72 on Friday. The firm’s fifty day simple moving average is $4.56 and its two-hundred day simple moving average is $4.73. Atea Pharmaceuticals, Inc. has a 52-week low of $2.78 and a 52-week high of $6.45. The company has a market cap of $377.74 million, a price-to-earnings ratio of -2.24 and a beta of 0.31.

Atea Pharmaceuticals (NASDAQ:AVIR) last released its earnings results on Tuesday, May 12th. The company reported ($0.57) EPS for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.03. On average, research analysts forecast that Atea Pharmaceuticals, Inc. will post -1.93 EPS for the current year.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Atea Pharmaceuticals in a research report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy”.

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.