Newtyn Management LLC Purchases 200,000 Shares of Atea Pharmaceuticals, Inc. (NASDAQ:AVIR)

Newtyn Management LLC boosted its position in shares of Atea Pharmaceuticals, Inc. (NASDAQ:AVIR - Free Report) by 52.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 580,000 shares of the company's stock after purchasing an additional 200,000 shares during the quarter. Atea Pharmaceuticals makes up 0.3% of Newtyn Management LLC's portfolio, making the stock its 29th biggest holding. Newtyn Management LLC owned 0.69% of Atea Pharmaceuticals worth $1,943,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. BML Capital Management LLC increased its stake in Atea Pharmaceuticals by 14.4% in the fourth quarter. BML Capital Management LLC now owns 7,608,312 shares of the company's stock valued at $25,488,000 after purchasing an additional 958,312 shares during the last quarter. Peapod Lane Capital LLC purchased a new position in Atea Pharmaceuticals in the fourth quarter valued at about $1,101,000. JPMorgan Chase & Co. boosted its holdings in Atea Pharmaceuticals by 329.7% in the fourth quarter. JPMorgan Chase & Co. now owns 409,259 shares of the company's stock valued at $1,371,000 after purchasing an additional 314,015 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Atea Pharmaceuticals by 23.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 977,470 shares of the company's stock valued at $3,274,000 after purchasing an additional 183,844 shares during the last quarter. Finally, ADAR1 Capital Management LLC purchased a new position in Atea Pharmaceuticals in the fourth quarter valued at about $368,000. 86.67% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Morgan Stanley reduced their target price on Atea Pharmaceuticals from $6.20 to $6.00 and set an "equal weight" rating on the stock in a report on Friday, April 11th. William Blair reaffirmed an "outperform" rating on shares of Atea Pharmaceuticals in a report on Friday, March 7th.

Atea Pharmaceuticals Price Performance

Shares of NASDAQ AVIR traded up $0.09 during mid-day trading on Monday, hitting $2.83. The company had a trading volume of 101,161 shares, compared to its average volume of 306,093. The stock has a market cap of $242.19 million, a price-to-earnings ratio of -1.37 and a beta of 0.17. The firm's 50 day simple moving average is $2.91 and its two-hundred day simple moving average is $3.09. Atea Pharmaceuticals, Inc. has a 12 month low of $2.46 and a 12 month high of $4.15.

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