Wellington Management Group LLP Has $911,000 Position in Atea Pharmaceuticals, Inc. $AVIR

Key Points

• Wellington Management Group LLP increased its stake in Atea Pharmaceuticals by 39.4%, now owning approximately 0.36% of the stock, valued at $911,000.
• Atea Pharmaceuticals recently posted earnings of ($0.44) per share, beating the consensus estimate of ($0.46) by $0.02.
• Despite recent investor interest, analysts have downgraded Atea Pharmaceuticals from a "hold" to a "sell" rating, with an average price target of $6.00.

Wellington Management Group LLP lifted its stake in shares of Atea Pharmaceuticals, Inc. (NASDAQ:AVIR - Free Report) by 39.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 304,530 shares of the company's stock after acquiring an additional 86,021 shares during the quarter. Wellington Management Group LLP owned 0.36% of Atea Pharmaceuticals worth $911,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Graham Capital Management L.P. bought a new stake in shares of Atea Pharmaceuticals during the 4th quarter worth $42,000. Millennium Management LLC bought a new stake in shares of Atea Pharmaceuticals during the 4th quarter worth $75,000. ProShare Advisors LLC boosted its stake in shares of Atea Pharmaceuticals by 31.5% during the 4th quarter. ProShare Advisors LLC now owns 25,733 shares of the company's stock worth $86,000 after acquiring an additional 6,163 shares in the last quarter. Shay Capital LLC boosted its stake in shares of Atea Pharmaceuticals by 72.5% during the 4th quarter. Shay Capital LLC now owns 30,633 shares of the company's stock worth $103,000 after acquiring an additional 12,871 shares in the last quarter. Finally, Bridgeway Capital Management LLC bought a new stake in shares of Atea Pharmaceuticals during the 4th quarter worth $112,000. 86.67% of the stock is owned by institutional investors.

Atea Pharmaceuticals Stock Performance

Shares of NASDAQ:AVIR traded up $0.04 during midday trading on Tuesday, hitting $3.40. 149,158 shares of the stock were exchanged, compared to its average volume of 322,992. The company has a market capitalization of $269.82 million, a PE ratio of -2.11 and a beta of 0.24. Atea Pharmaceuticals, Inc. has a 52-week low of $2.45 and a 52-week high of $4.14. The business's fifty day simple moving average is $3.56 and its two-hundred day simple moving average is $3.19.

Atea Pharmaceuticals (NASDAQ:AVIR - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.46) by $0.02. As a group, equities analysts anticipate that Atea Pharmaceuticals, Inc. will post -2.01 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered Atea Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $6.00.

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.