CM Management LLC Boosts Stock Holdings in Atea Pharmaceuticals, Inc. (NASDAQ:AVIR)

Key Points

• CM Management LLC increased its stake in Atea Pharmaceuticals, Inc. by 66.7%, owning 500,000 shares valued at approximately $1.50 million as of the end of the most recent quarter.
• Analysts have mixed views on Atea's stock, with Wall Street Zen upgrading it from "sell" to "hold," while Morgan Stanley reduced their target price from $6.20 to $6.00.
• Atea Pharmaceuticals reported a smaller than expected loss of ($0.40) EPS for the last quarter, beating analysts' consensus estimates by $0.16.

CM Management LLC lifted its position in Atea Pharmaceuticals, Inc. (NASDAQ:AVIR - Free Report) by 66.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 500,000 shares of the company's stock after purchasing an additional 200,000 shares during the period. CM Management LLC owned 0.58% of Atea Pharmaceuticals worth $1,495,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Peapod Lane Capital LLC boosted its holdings in shares of Atea Pharmaceuticals by 37.6% in the first quarter. Peapod Lane Capital LLC now owns 452,060 shares of the company's stock valued at $1,352,000 after purchasing an additional 123,479 shares during the period. Bank of America Corp DE boosted its holdings in shares of Atea Pharmaceuticals by 23.3% in the fourth quarter. Bank of America Corp DE now owns 73,441 shares of the company's stock valued at $246,000 after purchasing an additional 13,902 shares during the period. BNP Paribas Financial Markets purchased a new stake in shares of Atea Pharmaceuticals in the fourth quarter valued at approximately $323,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Atea Pharmaceuticals by 5.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 73,883 shares of the company's stock valued at $248,000 after purchasing an additional 3,882 shares during the period. Finally, D. E. Shaw & Co. Inc. boosted its holdings in shares of Atea Pharmaceuticals by 32.3% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 256,083 shares of the company's stock valued at $858,000 after purchasing an additional 62,505 shares during the period. Hedge funds and other institutional investors own 86.67% of the company's stock.

Wall Street Analyst Weigh In

AVIR has been the subject of several research reports. Wall Street Zen cut shares of Atea Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday. Morgan Stanley cut their price objective 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 Price Performance

AVIR stock traded down $0.08 during midday trading on Friday, hitting $3.38. 302,702 shares of the stock traded hands, compared to its average volume of 380,376. The firm has a market cap of $289.26 million, a P/E ratio of -2.10 and a beta of 0.25. The stock's fifty day simple moving average is $3.46 and its 200-day simple moving average is $3.13. Atea Pharmaceuticals, Inc. has a 1-year low of $2.45 and a 1-year high of $4.14.

Atea Pharmaceuticals (NASDAQ:AVIR - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($0.46) by $0.02. On average, research analysts predict that Atea Pharmaceuticals, Inc. will post -2.01 earnings per share for the current year.

About Atea Pharmaceuticals

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.