Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) Shares Sold by Almitas Capital LLC

Almitas Capital LLC reduced its position in Atea Pharmaceuticals, Inc. (NASDAQ:AVIR - Free Report) by 45.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 752,003 shares of the company's stock after selling 632,526 shares during the period. Almitas Capital LLC owned about 0.89% of Atea Pharmaceuticals worth $2,519,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in AVIR. Price T Rowe Associates Inc. MD boosted its position in Atea Pharmaceuticals by 5.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 73,883 shares of the company's stock worth $248,000 after purchasing an additional 3,882 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Atea Pharmaceuticals by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 659,527 shares of the company's stock worth $2,209,000 after acquiring an additional 9,370 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Atea Pharmaceuticals by 0.8% in the 4th quarter. Renaissance Technologies LLC now owns 1,216,600 shares of the company's stock worth $4,076,000 after purchasing an additional 9,500 shares in the last quarter. Wells Fargo & Company MN lifted its position in Atea Pharmaceuticals by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 45,391 shares of the company's stock valued at $152,000 after purchasing an additional 9,865 shares in the last quarter. Finally, Federated Hermes Inc. grew its holdings in Atea Pharmaceuticals by 1.9% during the fourth quarter. Federated Hermes Inc. now owns 582,939 shares of the company's stock valued at $1,953,000 after purchasing an additional 10,856 shares during the period. 86.67% of the stock is currently owned by hedge funds and other institutional investors.

Atea Pharmaceuticals Price Performance

NASDAQ:AVIR traded down $0.02 during trading hours on Wednesday, hitting $2.78. 187,387 shares of the company were exchanged, compared to its average volume of 300,371. Atea Pharmaceuticals, Inc. has a 52-week low of $2.60 and a 52-week high of $4.15. The stock has a market capitalization of $237.91 million, a price-to-earnings ratio of -1.35 and a beta of 0.17. The company's 50 day moving average price is $2.95 and its 200-day moving average price is $3.13.

Atea Pharmaceuticals (NASDAQ:AVIR - Get Free Report) last announced its quarterly earnings data on Thursday, March 6th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.05). On average, equities analysts predict that Atea Pharmaceuticals, Inc. will post -2.01 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on AVIR. Morgan Stanley cut their target price on Atea Pharmaceuticals from $6.20 to $6.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. William Blair reiterated an "outperform" rating on shares of Atea Pharmaceuticals in a research report on Friday, March 7th.

About Atea Pharmaceuticals

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.