Peapod Lane Capital LLC Boosts Stock Position in Atea Pharmaceuticals, Inc. (NASDAQ:AVIR)

Peapod Lane Capital LLC increased its holdings in shares of Atea Pharmaceuticals, Inc. (NASDAQ:AVIR - Free Report) by 37.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 452,060 shares of the company's stock after acquiring an additional 123,479 shares during the period. Atea Pharmaceuticals makes up approximately 1.5% of Peapod Lane Capital LLC's portfolio, making the stock its 26th biggest holding. Peapod Lane Capital LLC owned 0.53% of Atea Pharmaceuticals worth $1,352,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in Atea Pharmaceuticals by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 659,527 shares of the company's stock worth $2,209,000 after acquiring an additional 9,370 shares during the last quarter. HighTower Advisors LLC acquired a new position in shares of Atea Pharmaceuticals during the 4th quarter worth approximately $168,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Atea Pharmaceuticals by 72.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 76,352 shares of the company's stock valued at $256,000 after buying an additional 32,195 shares in the last quarter. Intech Investment Management LLC grew its holdings in Atea Pharmaceuticals by 236.0% during the 4th quarter. Intech Investment Management LLC now owns 35,989 shares of the company's stock valued at $121,000 after buying an additional 25,278 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Atea Pharmaceuticals by 329.7% during the fourth quarter. JPMorgan Chase & Co. now owns 409,259 shares of the company's stock worth $1,371,000 after buying an additional 314,015 shares in the last quarter. Hedge funds and other institutional investors own 86.67% of the company's stock.

Atea Pharmaceuticals Trading Down 2.9%

Shares of AVIR traded down $0.11 during midday trading on Friday, reaching $3.67. 311,695 shares of the company were exchanged, compared to its average volume of 325,576. Atea Pharmaceuticals, Inc. has a 1-year low of $2.46 and a 1-year high of $4.15. The company has a market cap of $314.08 million, a price-to-earnings ratio of -2.22 and a beta of 0.25. The stock has a 50-day moving average price of $3.16 and a 200-day moving average price of $3.10.

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Morgan Stanley cut their price target on Atea Pharmaceuticals from $6.20 to $6.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. Wall Street Zen raised Atea Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd.

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.