Atea Pharmaceuticals (NASDAQ:AVIR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Atea Pharmaceuticals (NASDAQ:AVIR) from a sell rating to a hold rating in a research note issued to investors on Saturday,Wall Street Zen reports.

A number of other equities analysts have also recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Atea Pharmaceuticals in a research report on Friday, July 17th. Morgan Stanley increased their price target on shares of Atea Pharmaceuticals from $6.00 to $7.00 and gave the company an “equal weight” rating in a research report on Thursday, August 13th. One analyst has rated the stock with a Strong 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, the stock has a consensus rating of “Hold” and a consensus price target of $7.00.

Atea Pharmaceuticals Stock Up 0.2%

Shares of AVIR stock opened at $5.32 on Friday. The stock has a market cap of $426.69 million, a P/E ratio of -2.56 and a beta of 0.28. Atea Pharmaceuticals has a fifty-two week low of $2.78 and a fifty-two week high of $6.45. The business has a fifty day simple moving average of $5.11 and a 200-day simple moving average of $5.10.

Atea Pharmaceuticals (NASDAQ:AVIR) last released its quarterly earnings data 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, sell-side analysts anticipate that Atea Pharmaceuticals will post -1.99 earnings per share for the current year.

Institutional Trading of Atea Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of Atea Pharmaceuticals in the 2nd quarter valued at $40,548,000. Irenic Capital Management LP purchased a new stake in shares of Atea Pharmaceuticals during the 1st quarter valued at $1,623,000. Hsbc Holdings PLC increased its holdings in shares of Atea Pharmaceuticals by 7.3% during the 1st quarter. Hsbc Holdings PLC now owns 258,989 shares of the company’s stock worth $1,380,000 after buying an additional 17,715 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Atea Pharmaceuticals during the 1st quarter worth $1,133,000. Finally, Wellington Management Group LLP raised its position in shares of Atea Pharmaceuticals by 262.7% in the 2nd quarter. Wellington Management Group LLP now owns 206,785 shares of the company’s stock worth $962,000 after buying an additional 149,776 shares during the period. Hedge funds and other institutional investors own 86.67% of the company’s stock.

About Atea Pharmaceuticals

Atea Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing oral antiviral therapies for serious viral diseases. The company uses its proprietary nucleotide prodrug platform to develop small-molecule medicines designed to target viral replication.

Atea’s leading investigational product is bemnifosbuvir, also known as AT-527, an oral antiviral designed to inhibit the RNA polymerase of SARS-CoV-2, the virus that causes COVID-19.