Atea Pharmaceuticals (NASDAQ:AVIR) Stock Rating Lowered by Wall Street Zen

Key Points

• Atea Pharmaceuticals has been downgraded by Wall Street Zen from a "hold" rating to a "sell" rating.
• Morgan Stanley lowered its target price for Atea's shares from $6.20 to $6.00 while maintaining an "equal weight" rating.
• Atea Pharmaceuticals reported an earnings per share (EPS) of ($0.44), slightly exceeding analysts' estimates of ($0.46) for the last quarter.

Atea Pharmaceuticals (NASDAQ:AVIR - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Saturday.

Separately, Morgan Stanley dropped their target price on shares of Atea Pharmaceuticals from $6.20 to $6.00 and set an "equal weight" rating on the stock in a research note on Friday, April 11th.

Atea Pharmaceuticals Trading Down 2.3%

Shares of NASDAQ:AVIR opened at $3.38 on Friday. The company has a market capitalization of $289.26 million, a price-to-earnings ratio of -2.10 and a beta of 0.25. Atea Pharmaceuticals has a 12 month low of $2.45 and a 12 month high of $4.14. The firm's 50-day moving average is $3.46 and its 200 day moving average is $3.13.

Atea Pharmaceuticals (NASDAQ:AVIR - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.44) EPS for the quarter, topping analysts' consensus estimates of ($0.46) by $0.02. As a group, equities analysts forecast that Atea Pharmaceuticals will post -2.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Atea Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in AVIR. Graham Capital Management L.P. purchased a new stake in shares of Atea Pharmaceuticals in the 4th quarter worth approximately $42,000. Johnson Investment Counsel Inc. purchased a new stake in shares of Atea Pharmaceuticals in the 2nd quarter worth approximately $55,000. Millennium Management LLC purchased a new stake in shares of Atea Pharmaceuticals in the 4th quarter worth approximately $75,000. ProShare Advisors LLC lifted its position in shares of Atea Pharmaceuticals by 31.5% in the 4th quarter. ProShare Advisors LLC now owns 25,733 shares of the company's stock worth $86,000 after purchasing an additional 6,163 shares during the period. Finally, Shay Capital LLC lifted its position in shares of Atea Pharmaceuticals by 72.5% in the 4th quarter. Shay Capital LLC now owns 30,633 shares of the company's stock worth $103,000 after purchasing an additional 12,871 shares during the period. 86.67% of the stock is currently owned by institutional investors.

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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