Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) Stock Position Increased by Tang Capital Management LLC

Tang Capital Management LLC grew its holdings in shares of Atea Pharmaceuticals, Inc. (NASDAQ:AVIR - Free Report) by 3.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,788,912 shares of the company's stock after purchasing an additional 181,852 shares during the period. Atea Pharmaceuticals accounts for 1.1% of Tang Capital Management LLC's portfolio, making the stock its 25th biggest position. Tang Capital Management LLC owned approximately 5.67% of Atea Pharmaceuticals worth $16,043,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. JPMorgan Chase & Co. grew its position in shares of Atea Pharmaceuticals by 106.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 95,244 shares of the company's stock valued at $319,000 after buying an additional 49,028 shares during the last quarter. HighTower Advisors LLC bought a new position in shares of Atea Pharmaceuticals during the fourth quarter valued at approximately $168,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Atea Pharmaceuticals by 72.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 76,352 shares of the company's stock worth $256,000 after purchasing an additional 32,195 shares during the period. Peapod Lane Capital LLC bought a new stake in shares of Atea Pharmaceuticals in the 4th quarter worth approximately $1,101,000. Finally, BML Capital Management LLC lifted its holdings in shares of Atea Pharmaceuticals by 14.4% in the 4th quarter. BML Capital Management LLC now owns 7,608,312 shares of the company's stock worth $25,488,000 after purchasing an additional 958,312 shares during the last quarter. 86.67% of the stock is currently owned by institutional investors.

Atea Pharmaceuticals Stock Performance

Shares of NASDAQ:AVIR traded up $0.05 on Friday, hitting $2.90. The company's stock had a trading volume of 95,259 shares, compared to its average volume of 306,423. Atea Pharmaceuticals, Inc. has a 12 month low of $2.46 and a 12 month high of $4.15. The stock's 50-day moving average is $2.89 and its two-hundred day moving average is $3.08. The company has a market capitalization of $247.75 million, a price-to-earnings ratio of -1.40 and a beta of 0.17.

Atea Pharmaceuticals (NASDAQ:AVIR - Get Free Report) last released its earnings results on Monday, May 12th. The company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.16. Equities analysts expect that Atea Pharmaceuticals, Inc. will post -2.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AVIR shares. Morgan Stanley cut their target price on 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. Wall Street Zen raised shares of Atea Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Thursday. Finally, William Blair reissued an "outperform" rating on shares of Atea Pharmaceuticals in a research note on Friday, March 7th.

Atea Pharmaceuticals 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.