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

Several other large investors also recently added to or reduced their stakes in AVIR. Peapod Lane Capital LLC lifted its stake in Atea Pharmaceuticals by 37.6% during the first quarter. Peapod Lane Capital LLC now owns 452,060 shares of the company's stock worth $1,352,000 after purchasing an additional 123,479 shares during the last quarter. Squarepoint Ops LLC increased its holdings in shares of Atea Pharmaceuticals by 223.3% in the fourth quarter. Squarepoint Ops LLC now owns 50,750 shares of the company's stock worth $170,000 after buying an additional 35,053 shares during the period. Tang Capital Management LLC increased its holdings in shares of Atea Pharmaceuticals by 3.9% in the fourth quarter. Tang Capital Management LLC now owns 4,788,912 shares of the company's stock worth $16,043,000 after buying an additional 181,852 shares during the period. Shay Capital LLC increased its holdings in shares of Atea Pharmaceuticals by 72.5% in the fourth quarter. Shay Capital LLC now owns 30,633 shares of the company's stock worth $103,000 after buying an additional 12,871 shares during the period. Finally, ProShare Advisors LLC increased its holdings in shares of Atea Pharmaceuticals by 31.5% in the fourth quarter. ProShare Advisors LLC now owns 25,733 shares of the company's stock worth $86,000 after buying an additional 6,163 shares during the period. Institutional investors own 86.67% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded Atea Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Saturday.

Atea Pharmaceuticals Stock Down 2.3%

Shares of AVIR traded down $0.08 during trading hours on Friday, hitting $3.38. The company had a trading volume of 302,702 shares, 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 50 day moving average price is $3.46 and its 200 day moving average price is $3.13. Atea Pharmaceuticals, Inc. has a 52-week low of $2.45 and a 52-week high of $4.14.

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