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) announced its earnings results on Thursday, August 7th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.46) by $0.02, Zacks reports.

Atea Pharmaceuticals Stock Performance

NASDAQ AVIR traded down $0.01 during mid-day trading on Thursday, reaching $3.49. 308,417 shares of the stock were exchanged, compared to its average volume of 362,316. Atea Pharmaceuticals has a 1-year low of $2.45 and a 1-year high of $4.14. The business's fifty day simple moving average is $3.49 and its 200 day simple moving average is $3.14. The stock has a market capitalization of $276.97 million, a PE ratio of -2.17 and a beta of 0.25.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Atea Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th.

Institutional Trading of Atea Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the company. Rhumbline Advisers boosted its holdings in shares of Atea Pharmaceuticals by 2.6% in the 2nd quarter. Rhumbline Advisers now owns 119,420 shares of the company's stock valued at $430,000 after purchasing an additional 2,977 shares during the last quarter. Prudential Financial Inc. acquired a new position in shares of Atea Pharmaceuticals in the 2nd quarter valued at $36,000. American Century Companies Inc. boosted its holdings in shares of Atea Pharmaceuticals by 6.7% in the 2nd quarter. American Century Companies Inc. now owns 173,791 shares of the company's stock valued at $626,000 after purchasing an additional 10,930 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Atea Pharmaceuticals in the 2nd quarter valued at $90,000. Finally, Jane Street Group LLC boosted its holdings in shares of Atea Pharmaceuticals by 80.4% in the 1st quarter. Jane Street Group LLC now owns 102,607 shares of the company's stock valued at $307,000 after purchasing an additional 45,716 shares during the last quarter. Institutional investors and hedge funds 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.