Atea Pharmaceuticals (NASDAQ:AVIR) Shares Up 0.2% - Time to Buy?

Key Points

• Atea Pharmaceuticals shares rose 0.2% to $4.17 in mid-day trading, below the stock’s 50-day and 200-day moving averages of $5.11 and $4.90, respectively.
• Analyst sentiment is mixed, with one Strong Buy, one Hold and one Sell rating; the overall consensus is Hold, with a $7.00 price target.
• The company beat quarterly EPS expectations, reporting a loss of $0.41 per share versus the expected $0.56 loss, while institutional investors hold a substantial 86.67% stake in the company.

Atea Pharmaceuticals, Inc. (NASDAQ:AVIR - Get Free Report) shares rose 0.2% during mid-day trading on Tuesday. The company traded as high as $4.29 and last traded at $4.17. 245,240 shares changed hands during trading, The stock had previously closed at $4.16.

Wall Street Analysts Forecast Growth

AVIR has been the subject of several recent analyst reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Atea Pharmaceuticals in a research note on Thursday, October 15th. Morgan Stanley raised their price target on shares of Atea Pharmaceuticals from $6.00 to $7.00 and gave the company an "equal weight" rating in a research report on Thursday, August 13th. Finally, Wall Street Zen upgraded shares of Atea Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Saturday, September 12th. One analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $7.00.

Atea Pharmaceuticals Stock Performance

The stock has a market cap of $334.45 million, a PE ratio of -2.00 and a beta of 0.39. The business has a 50 day moving average price of $5.11 and a two-hundred day moving average price of $4.90.

Atea Pharmaceuticals (NASDAQ:AVIR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.41) EPS for the quarter, beating analysts' consensus estimates of ($0.56) by $0.15. As a group, research analysts anticipate that Atea Pharmaceuticals, Inc. will post -1.99 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Legal & General Group Plc purchased a new stake in shares of Atea Pharmaceuticals during the 2nd quarter valued at $33,000. Quantinno Capital Management LP bought a new stake in shares of Atea Pharmaceuticals during the 1st quarter worth $86,000. Spark Investment Management LLC bought a new stake in shares of Atea Pharmaceuticals during the 2nd quarter worth $75,000. Headlands Technologies LLC purchased a new position in shares of Atea Pharmaceuticals in the 2nd quarter worth about $77,000. Finally, Engineers Gate Manager LP purchased a new position in shares of Atea Pharmaceuticals in the 2nd quarter worth about $78,000. Institutional investors own 86.67% of the company's stock.

About Atea Pharmaceuticals

Atea Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing oral antiviral therapies for serious infectious diseases. The company's research platform is based on nucleotide and nucleoside prodrug technologies designed to target viral replication.

Atea's lead product candidate is bemnifosbuvir, formerly known as AT-527, an orally administered antiviral that has been evaluated for the treatment of COVID-19. The company has also investigated bemnifosbuvir and related antiviral approaches for other viral infections, including hepatitis C.

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