Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) Stock Short Interest Report for October

Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) was the target of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totaling 3,070,296 shares, a decrease of 61.1% from the September 30th total of 7,886,499 shares. Based on an average daily trading volume, of 287,224 shares, the short-interest ratio is currently 10.7 days. Currently, 4.9% of the shares of the company are short sold.

Atea Pharmaceuticals Stock Performance

AVIR stock opened at $4.27 on Thursday. Atea Pharmaceuticals has a 1 year low of $2.87 and a 1 year high of $6.45. The stock’s 50 day moving average price is $5.09 and its 200 day moving average price is $4.90. The firm has a market cap of $342.48 million, a P/E ratio of -2.05 and a beta of 0.39.

Atea Pharmaceuticals (NASDAQ:AVIR) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.41) EPS for the quarter, topping the consensus estimate of ($0.56) by $0.15. On average, research analysts predict that Atea Pharmaceuticals will post -1.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

AVIR has been the subject of a number of analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Atea Pharmaceuticals in a research report on Thursday, October 15th. Wall Street Zen upgraded Atea Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, September 12th. Finally, Morgan Stanley raised their price target on Atea Pharmaceuticals from $6.00 to $7.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $7.00.

Hedge Funds Weigh In On Atea Pharmaceuticals

Large investors have recently modified their holdings of the stock. Legal & General Group Plc acquired a new position in shares of Atea Pharmaceuticals during the second quarter worth $33,000. Spark Investment Management LLC bought a new position in Atea Pharmaceuticals in the 2nd quarter worth approximately $75,000. Headlands Technologies LLC bought a new stake in shares of Atea Pharmaceuticals during the 2nd quarter valued at about $77,000. Engineers Gate Manager LP bought a new stake in shares of Atea Pharmaceuticals in the 2nd quarter worth approximately $78,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Atea Pharmaceuticals during the 2nd quarter worth approximately $82,000. 86.67% of the stock is owned by institutional investors.

About Atea Pharmaceuticals

Atea Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing oral antiviral therapies for serious infectious diseases. The company’s research platform is based on nucleotide and nucleoside prodrug technologies designed to target viral replication.

Atea’s lead product candidate is bemnifosbuvir, formerly known as AT-527, an orally administered antiviral that has been evaluated for the treatment of COVID-19. The company has also investigated bemnifosbuvir and related antiviral approaches for other viral infections, including hepatitis C.