Atea Pharmaceuticals (NASDAQ:AVIR) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Key Points

• Atea Pharmaceuticals reported a quarterly loss of $0.44 earnings per share, which was better than the consensus estimate of $0.46 loss by $0.02.
• The company's stock fell 2.3% to $3.38 following the earnings announcement, with a 12-month trading range between $2.45 and $4.14.
• Institutional investors, including Jane Street Group LLC, have increased their holdings in Atea Pharmaceuticals, with 86.67% of the company’s stock owned by institutional investors.

Atea Pharmaceuticals (NASDAQ:AVIR - Get Free Report) issued its quarterly earnings results on Thursday. The company reported ($0.44) earnings per share for the quarter, topping the consensus estimate of ($0.46) by $0.02, Zacks reports.

Atea Pharmaceuticals Stock Down 2.3%

Shares of NASDAQ:AVIR traded down $0.08 during midday trading on Friday, hitting $3.38. The stock had a trading volume of 302,702 shares, compared to its average volume of 380,376. Atea Pharmaceuticals has a 12 month low of $2.45 and a 12 month high of $4.14. The business's 50-day simple moving average is $3.46 and its 200-day simple moving average is $3.13. The company has a market cap of $289.26 million, a P/E ratio of -2.10 and a beta of 0.25.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AVIR. Morgan Stanley decreased their price target on shares of Atea Pharmaceuticals from $6.20 to $6.00 and set an "equal weight" rating for the company in a research note on Friday, April 11th. Wall Street Zen cut shares of Atea Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday.

Hedge Funds Weigh In On Atea Pharmaceuticals

An institutional investor recently raised its position in Atea Pharmaceuticals stock. Jane Street Group LLC lifted its position in Atea Pharmaceuticals, Inc. (NASDAQ:AVIR - Free Report) by 80.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 102,607 shares of the company's stock after buying an additional 45,716 shares during the quarter. Jane Street Group LLC owned about 0.12% of Atea Pharmaceuticals worth $307,000 as of its most recent SEC filing. Institutional investors own 86.67% of the company's stock.

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.

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