301,699 Shares in Atea Pharmaceuticals, Inc. $AVIR Bought by Irenic Capital Management LP

Key Points

• Irenic Capital Management purchased 301,699 shares of Atea Pharmaceuticals, valued at approximately $1.62 million, representing about 0.38% of the company. Institutional investors collectively own 86.67% of AVIR.
• Atea reported a quarterly loss of $0.57 per share, beating analysts’ estimate of a $0.60 loss. Analysts expect a full-year loss of approximately $1.93 per share.
• AVIR opened at $4.51, near its 50-day average of $4.57 and 200-day average of $4.80. Analyst sentiment is mixed, with ratings ranging from Strong Buy to Sell and an overall “Moderate Buy” consensus.

Irenic Capital Management LP purchased a new stake in shares of Atea Pharmaceuticals, Inc. (NASDAQ:AVIR - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 301,699 shares of the company's stock, valued at approximately $1,623,000. Irenic Capital Management LP owned approximately 0.38% of Atea Pharmaceuticals as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of AVIR. Dimensional Fund Advisors LP grew its stake in shares of Atea Pharmaceuticals by 9.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,540,716 shares of the company's stock worth $4,468,000 after buying an additional 129,453 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Atea Pharmaceuticals by 118.6% during the 4th quarter. JPMorgan Chase & Co. now owns 1,348,294 shares of the company's stock valued at $4,813,000 after buying an additional 731,443 shares in the last quarter. Millennium Management LLC raised its position in shares of Atea Pharmaceuticals by 43.3% during the 4th quarter. Millennium Management LLC now owns 698,156 shares of the company's stock valued at $2,492,000 after buying an additional 210,933 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Atea Pharmaceuticals by 38.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 472,522 shares of the company's stock valued at $1,687,000 after buying an additional 132,382 shares in the last quarter. Finally, Two Sigma Investments LP lifted its holdings in shares of Atea Pharmaceuticals by 28.6% in the 3rd quarter. Two Sigma Investments LP now owns 471,293 shares of the company's stock valued at $1,367,000 after acquiring an additional 104,681 shares during the last quarter. Institutional investors own 86.67% of the company's stock.

Atea Pharmaceuticals Stock Performance

NASDAQ AVIR opened at $4.51 on Wednesday. The business's 50 day moving average price is $4.57 and its 200-day moving average price is $4.80. Atea Pharmaceuticals, Inc. has a fifty-two week low of $2.78 and a fifty-two week high of $6.45. The company has a market cap of $360.94 million, a P/E ratio of -2.14 and a beta of 0.31.

Atea Pharmaceuticals (NASDAQ:AVIR - Get Free Report) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.57) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.60) by $0.03. As a group, equities analysts predict that Atea Pharmaceuticals, Inc. will post -1.93 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Atea Pharmaceuticals in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Atea Pharmaceuticals presently has an average rating of "Moderate Buy".

About Atea Pharmaceuticals

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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