Jacobs Levy Equity Management Inc. Reduces Position in Atea Pharmaceuticals, Inc. (NASDAQ:AVIR)

Jacobs Levy Equity Management Inc. reduced its position in Atea Pharmaceuticals, Inc. (NASDAQ:AVIR - Free Report) by 23.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 390,899 shares of the company's stock after selling 118,572 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.46% of Atea Pharmaceuticals worth $1,310,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Graham Capital Management L.P. acquired a new position in shares of Atea Pharmaceuticals in the 4th quarter valued at $42,000. D. E. Shaw & Co. Inc. lifted its stake in shares of Atea Pharmaceuticals by 32.3% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 256,083 shares of the company's stock valued at $858,000 after purchasing an additional 62,505 shares during the period. Bridgeway Capital Management LLC acquired a new position in shares of Atea Pharmaceuticals in the 4th quarter valued at $112,000. Bank of America Corp DE raised its position in Atea Pharmaceuticals by 23.3% during the fourth quarter. Bank of America Corp DE now owns 73,441 shares of the company's stock worth $246,000 after acquiring an additional 13,902 shares during the period. Finally, BNP Paribas Financial Markets acquired a new position in Atea Pharmaceuticals during the fourth quarter worth $323,000. 86.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wall Street Zen upgraded shares of Atea Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Thursday. Morgan Stanley reduced their price objective on shares of Atea Pharmaceuticals from $6.20 to $6.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. Finally, William Blair restated an "outperform" rating on shares of Atea Pharmaceuticals in a research report on Friday, March 7th.

Atea Pharmaceuticals Stock Up 3.0%

Shares of Atea Pharmaceuticals stock traded up $0.09 during trading hours on Thursday, reaching $2.90. 81,141 shares of the company's stock were exchanged, compared to its average volume of 307,060. Atea Pharmaceuticals, Inc. has a 1 year low of $2.46 and a 1 year high of $4.15. The company has a market capitalization of $247.75 million, a P/E ratio of -1.40 and a beta of 0.17. The business has a fifty day moving average of $2.89 and a two-hundred day moving average of $3.08.

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

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.