JPMorgan Chase & Co. Acquires 314,015 Shares of Atea Pharmaceuticals, Inc. (NASDAQ:AVIR)

JPMorgan Chase & Co. boosted its holdings in shares of Atea Pharmaceuticals, Inc. (NASDAQ:AVIR - Free Report) by 329.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 409,259 shares of the company's stock after purchasing an additional 314,015 shares during the period. JPMorgan Chase & Co. owned about 0.48% of Atea Pharmaceuticals worth $1,371,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in AVIR. Virtu Financial LLC bought a new position in shares of Atea Pharmaceuticals during the 3rd quarter worth approximately $99,000. Intech Investment Management LLC boosted its stake in shares of Atea Pharmaceuticals by 236.0% in the 4th quarter. Intech Investment Management LLC now owns 35,989 shares of the company's stock valued at $121,000 after purchasing an additional 25,278 shares in the last quarter. HighTower Advisors LLC bought a new stake in shares of Atea Pharmaceuticals in the 4th quarter worth about $168,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Atea Pharmaceuticals by 72.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 76,352 shares of the company's stock worth $256,000 after purchasing an additional 32,195 shares in the last quarter. Finally, Barclays PLC lifted its holdings in Atea Pharmaceuticals by 74.5% during the 3rd quarter. Barclays PLC now owns 177,077 shares of the company's stock valued at $593,000 after purchasing an additional 75,624 shares during the last quarter. 86.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AVIR has been the subject of several recent analyst reports. Morgan Stanley dropped 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 report on Friday, April 11th. William Blair reiterated an "outperform" rating on shares of Atea Pharmaceuticals in a research report on Friday, March 7th.

Atea Pharmaceuticals Trading Up 2.9 %

Shares of AVIR traded up $0.09 during mid-day trading on Thursday, hitting $3.04. 131,567 shares of the company traded hands, compared to its average volume of 296,251. The business has a 50-day moving average of $2.96 and a 200 day moving average of $3.16. Atea Pharmaceuticals, Inc. has a one year low of $2.60 and a one year high of $4.15. The stock has a market capitalization of $259.57 million, a price-to-earnings ratio of -1.47 and a beta of 0.17.

Atea Pharmaceuticals (NASDAQ:AVIR - Get Free Report) last posted its quarterly earnings results on Thursday, March 6th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.05). As a group, analysts anticipate that Atea Pharmaceuticals, Inc. will post -2.01 earnings per share for the current year.

About Atea Pharmaceuticals

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.