Arrowstreet Capital Limited Partnership Takes Position in Atea Pharmaceuticals, Inc. $AVIR

Key Points

• Arrowstreet Capital acquired 210,542 shares of Atea Pharmaceuticals during the first quarter, valued at approximately $1.13 million and representing about 0.26% of the company. Institutional investors and hedge funds 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 $4.99, compared with a 52-week range of $2.78 to $6.45. Analyst sentiment is mixed—one analyst rates it a Strong Buy and another a Sell—resulting in a consensus rating of Moderate Buy.

Arrowstreet Capital Limited Partnership acquired a new position in shares of Atea Pharmaceuticals, Inc. (NASDAQ:AVIR - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 210,542 shares of the company's stock, valued at approximately $1,133,000. Arrowstreet Capital Limited Partnership owned about 0.26% of Atea Pharmaceuticals as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its stake in Atea Pharmaceuticals by 9.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,540,716 shares of the company's stock valued at $4,468,000 after buying an additional 129,453 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Atea Pharmaceuticals by 118.6% in the 4th quarter. JPMorgan Chase & Co. now owns 1,348,294 shares of the company's stock worth $4,813,000 after acquiring an additional 731,443 shares during the period. Millennium Management LLC lifted its stake in shares of Atea Pharmaceuticals by 43.3% in the 4th quarter. Millennium Management LLC now owns 698,156 shares of the company's stock worth $2,492,000 after acquiring an additional 210,933 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Atea Pharmaceuticals by 38.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 472,522 shares of the company's stock worth $1,687,000 after acquiring an additional 132,382 shares during the period. Finally, Two Sigma Investments LP boosted its holdings in shares of Atea Pharmaceuticals by 28.6% in the third 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 in the last quarter. 86.67% of the stock is currently owned by institutional investors and hedge funds.

Atea Pharmaceuticals Price Performance

Shares of AVIR stock opened at $4.99 on Friday. The firm's 50-day simple moving average is $4.61 and its 200-day simple moving average is $4.86. Atea Pharmaceuticals, Inc. has a 1-year low of $2.78 and a 1-year high of $6.45. The firm has a market cap of $399.35 million, a P/E ratio of -2.36 and a beta of 0.30.

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

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Atea Pharmaceuticals in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy".

Atea Pharmaceuticals 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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