Two Sigma Advisers LP Reduces Holdings in Atea Pharmaceuticals, Inc. (NASDAQ:AVIR)

Two Sigma Advisers LP decreased its position in Atea Pharmaceuticals, Inc. (NASDAQ:AVIR - Free Report) by 15.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 493,600 shares of the company's stock after selling 88,800 shares during the quarter. Two Sigma Advisers LP owned 0.58% of Atea Pharmaceuticals worth $1,654,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in shares of Atea Pharmaceuticals by 106.1% during the third quarter. JPMorgan Chase & Co. now owns 95,244 shares of the company's stock worth $319,000 after buying an additional 49,028 shares during the period. Peapod Lane Capital LLC acquired a new position in Atea Pharmaceuticals during the 4th quarter worth about $1,101,000. Charles Schwab Investment Management Inc. boosted its holdings in Atea Pharmaceuticals by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 659,527 shares of the company's stock valued at $2,209,000 after acquiring an additional 9,370 shares during the period. BML Capital Management LLC grew its position in Atea Pharmaceuticals by 14.4% in the 4th quarter. BML Capital Management LLC now owns 7,608,312 shares of the company's stock valued at $25,488,000 after acquiring an additional 958,312 shares in the last quarter. Finally, CM Management LLC grew its position in Atea Pharmaceuticals by 11.1% in the 4th quarter. CM Management LLC now owns 300,000 shares of the company's stock valued at $1,005,000 after acquiring an additional 30,000 shares in the last quarter. Hedge funds and other institutional investors own 86.67% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AVIR. Wall Street Zen raised shares of Atea Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Morgan Stanley reduced their target price on shares of Atea Pharmaceuticals from $6.20 to $6.00 and set an "equal weight" rating on the stock in a report on Friday, April 11th. Finally, William Blair reissued an "outperform" rating on shares of Atea Pharmaceuticals in a research report on Friday, March 7th.

Atea Pharmaceuticals Stock Up 1.0%

NASDAQ AVIR traded up $0.03 during trading hours on Friday, hitting $2.98. 570,319 shares of the company were exchanged, compared to its average volume of 311,575. The company has a 50 day moving average of $2.86 and a two-hundred day moving average of $3.06. Atea Pharmaceuticals, Inc. has a 52-week low of $2.46 and a 52-week high of $4.15. The firm has a market cap of $255.03 million, a price-to-earnings ratio of -1.44 and a beta of 0.17.

Atea Pharmaceuticals (NASDAQ:AVIR - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.40) EPS for the quarter, topping analysts' consensus estimates of ($0.56) by $0.16. On average, equities research analysts predict that Atea Pharmaceuticals, Inc. will post -2.01 EPS for the current year.

Atea Pharmaceuticals Company 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.