Atea Pharmaceuticals (NASDAQ:AVIR) Receives "Sell (D-)" Rating from Weiss Ratings

Key Points

• Atea Pharmaceuticals' stock has received a "Sell (D-)" rating from Weiss Ratings, indicating significant concerns from analysts.
• The company's average stock rating is currently a "Hold" with a consensus price target of $6.00, despite one analyst rating it as a Buy.
• Atea reported earnings of ($0.44) per share, slightly beating expectations, but is projected to post -2.01 EPS for the current year.

Atea Pharmaceuticals (NASDAQ:AVIR - Get Free Report)'s stock had its "sell (d-)" rating reiterated by equities researchers at Weiss Ratings in a note issued to investors on Friday,Weiss Ratings reports.

Separately, Wall Street Zen cut Atea Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $6.00.

Atea Pharmaceuticals Stock Performance

AVIR stock traded up $0.02 during trading on Friday, hitting $3.21. 236,360 shares of the company traded hands, compared to its average volume of 375,454. The firm has a market capitalization of $254.75 million, a PE ratio of -1.99 and a beta of 0.22. Atea Pharmaceuticals has a 1 year low of $2.45 and a 1 year high of $4.02. The company has a 50-day moving average of $3.19 and a 200-day moving average of $3.19.

Atea Pharmaceuticals (NASDAQ:AVIR - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.44) earnings per share for the quarter, beating the consensus estimate of ($0.46) by $0.02. Sell-side analysts expect that Atea Pharmaceuticals will post -2.01 EPS for the current year.

Institutional Investors Weigh In On Atea Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of AVIR. Nuveen LLC purchased a new stake in Atea Pharmaceuticals in the 1st quarter worth approximately $870,000. CM Management LLC lifted its holdings in Atea Pharmaceuticals by 66.7% in the 1st quarter. CM Management LLC now owns 500,000 shares of the company's stock worth $1,495,000 after buying an additional 200,000 shares during the period. Peapod Lane Capital LLC lifted its holdings in Atea Pharmaceuticals by 37.6% in the 1st quarter. Peapod Lane Capital LLC now owns 452,060 shares of the company's stock worth $1,352,000 after buying an additional 123,479 shares during the period. Strs Ohio purchased a new stake in Atea Pharmaceuticals in the 1st quarter worth approximately $315,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in Atea Pharmaceuticals by 80,871.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 93,927 shares of the company's stock worth $338,000 after buying an additional 93,811 shares during the period. Hedge funds and other 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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