Atea Pharmaceuticals (NASDAQ:AVIR) Releases Earnings Results, Misses Estimates By $0.07 EPS

Atea Pharmaceuticals (NASDAQ:AVIR) announced its quarterly earnings data on Wednesday. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.07), FiscalAI reports.

Atea Pharmaceuticals Stock Up 3.6%

Atea Pharmaceuticals stock traded up $0.12 during midday trading on Wednesday, hitting $3.50. The company’s stock had a trading volume of 1,047,226 shares, compared to its average volume of 379,919. The stock’s 50-day moving average price is $3.12 and its 200-day moving average price is $3.24. The company has a market capitalization of $277.76 million, a PE ratio of -2.17 and a beta of 0.23. Atea Pharmaceuticals has a 12 month low of $2.45 and a 12 month high of $4.02.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AVIR. Prudential Financial Inc. purchased a new stake in shares of Atea Pharmaceuticals in the second quarter worth approximately $36,000. Marshall Wace LLP acquired a new stake in shares of Atea Pharmaceuticals during the 2nd quarter valued at $90,000. Brevan Howard Capital Management LP acquired a new stake in shares of Atea Pharmaceuticals during the 2nd quarter valued at $132,000. Oxford Asset Management LLP grew its holdings in shares of Atea Pharmaceuticals by 83.7% during the 2nd quarter. Oxford Asset Management LLP now owns 40,787 shares of the company’s stock valued at $147,000 after acquiring an additional 18,585 shares in the last quarter. Finally, Rangeley Capital LLC acquired a new position in shares of Atea Pharmaceuticals in the second quarter worth $191,000. 86.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on AVIR shares. Wall Street Zen cut shares of Atea Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Atea Pharmaceuticals in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $6.00.

Atea Pharmaceuticals Company Profile

Atea Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, discovers, develops, and commercializes antiviral therapeutics for patients with viral infections. Its lead product candidate is AT-527, an oral antiviral candidate that is in Phase 3 SUNRISE-3 clinical trial for the treatment of patients with COVID-19.