Atea Pharmaceuticals (NASDAQ:AVIR) Trading Down 0.8% - What's Next?

Key Points

• Atea Pharmaceuticals shares slipped 0.8% on Tuesday, trading between $4.61 and $4.70 on volume below its recent average. The stock closed at $4.74 previously.
• Analyst sentiment is mixed: Weiss Ratings reiterated a "sell (d-)" rating, while MarketBeat data shows a consensus of "Moderate Buy" based on the limited analyst coverage.
• The company recently reported a smaller-than-expected quarterly loss of $0.57 per share versus the $0.60 estimate. Analysts still expect Atea to post a full-year loss of $1.93 per share.

Atea Pharmaceuticals, Inc. (NASDAQ:AVIR - Get Free Report)'s share price was down 0.8% during trading on Tuesday . The company traded as low as $4.61 and last traded at $4.70. 341,636 shares changed hands during trading, a decline of 7% from the average daily volume of 365,661 shares. The stock had previously closed at $4.74.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Atea Pharmaceuticals in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Atea Pharmaceuticals presently has a consensus rating of "Moderate Buy".

Atea Pharmaceuticals Price Performance

The stock has a market cap of $376.14 million, a price-to-earnings ratio of -2.23 and a beta of 0.31. The firm has a fifty day moving average of $4.59 and a 200 day moving average of $4.72.

Atea Pharmaceuticals (NASDAQ:AVIR - Get Free Report) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.57) earnings per share for the quarter, topping analysts' consensus estimates of ($0.60) by $0.03. Research analysts anticipate that Atea Pharmaceuticals, Inc. will post -1.93 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Empowered Funds LLC acquired a new stake in Atea Pharmaceuticals during the first quarter worth about $266,000. Irenic Capital Management LP purchased a new position in Atea Pharmaceuticals during the first quarter worth about $1,623,000. Quantinno Capital Management LP acquired a new position in Atea Pharmaceuticals in the 1st quarter valued at about $86,000. Arrowstreet Capital Limited Partnership acquired a new position in Atea Pharmaceuticals in the 1st quarter valued at about $1,133,000. Finally, Sei Investments Co. purchased a new stake in shares of Atea Pharmaceuticals in the 1st quarter valued at approximately $841,000. Institutional investors and hedge funds own 86.67% of the company's stock.

Atea Pharmaceuticals Company Profile

Atea Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of oral antiviral therapeutics targeting RNA viruses. The company's lead program, AT-527, is a direct-acting nucleotide prodrug licensed from Roche and is being evaluated as a potential treatment for coronavirus disease 2019 (COVID-19). In addition to its COVID-19 efforts, Atea's pipeline includes other small-molecule candidates for hepatitis C virus and emerging RNA pathogens, leveraging its proprietary nucleotide chemistry platform to address significant unmet medical needs in infectious diseases.

Founded in 2014 and headquartered in Cambridge, Massachusetts, Atea operates research laboratories in the Greater Boston area and conducts clinical studies across North America, Europe and parts of Asia.

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