Hsbc Holdings PLC Buys New Shares in Atea Pharmaceuticals, Inc. $AVIR

Key Points

• Hsbc Holdings PLC acquired 221,009 shares of Atea Pharmaceuticals in the second quarter, worth approximately $1.02 million and representing about 0.28% of the company. Institutional investors collectively own 86.67% of AVIR.
• Atea shares opened at $5.49, within a 52-week range of $2.78 to $6.45. The company reported a quarterly loss of $0.41 per share, beating analysts’ expected loss of $0.56.
• Analyst sentiment remains mixed, with ratings ranging from Strong Buy to Sell; the consensus rating is Hold and the average price target is $7.00.

Hsbc Holdings PLC bought a new position in Atea Pharmaceuticals, Inc. (NASDAQ:AVIR - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 221,009 shares of the company's stock, valued at approximately $1,023,000. Hsbc Holdings PLC owned approximately 0.28% of Atea Pharmaceuticals at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in AVIR. Legal & General Group Plc bought a new position in Atea Pharmaceuticals during the 2nd quarter valued at approximately $33,000. Prudential Financial Inc. purchased a new stake in shares of Atea Pharmaceuticals in the 2nd quarter worth about $36,000. RFG Advisory LLC purchased a new stake in Atea Pharmaceuticals in the fourth quarter worth about $53,000. BNP Paribas Financial Markets increased its position in Atea Pharmaceuticals by 57.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 19,913 shares of the company's stock valued at $58,000 after buying an additional 7,286 shares in the last quarter. Finally, Jump Financial LLC boosted its stake in Atea Pharmaceuticals by 36.5% in the 4th quarter. Jump Financial LLC now owns 19,113 shares of the company's stock worth $68,000 after purchasing an additional 5,106 shares in the last quarter. 86.67% of the stock is owned by hedge funds and other institutional investors.

Atea Pharmaceuticals Stock Performance

Shares of NASDAQ AVIR opened at $5.49 on Wednesday. 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 $440.35 million, a price-to-earnings ratio of -2.64 and a beta of 0.28. The business's 50 day moving average price is $4.95 and its 200-day moving average price is $5.03.

Atea Pharmaceuticals (NASDAQ:AVIR - Get Free Report) last issued its earnings results on Wednesday, August 12th. The company reported ($0.41) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.56) by $0.15. Sell-side analysts predict that Atea Pharmaceuticals, Inc. will post -1.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on AVIR shares. Weiss Ratings restated a "sell (d-)" rating on shares of Atea Pharmaceuticals in a research note on Friday, July 17th. Morgan Stanley upped their price objective on Atea Pharmaceuticals from $6.00 to $7.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $7.00.

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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