Weiss Ratings Reiterates "Sell (D-)" Rating for Atea Pharmaceuticals (NASDAQ:AVIR)

Key Points

• Weiss Ratings has reiterated a "Sell (D-)" rating for Atea Pharmaceuticals (NASDAQ:AVIR), reflecting ongoing concerns from analysts.
• Atea Pharmaceuticals' stock price recently rose to $3.10 with a trading volume significantly above its average, although it has seen a 1-year low of $2.45 and a high of $4.02.
• The company reported earnings of ($0.44) per share, which was slightly better than the consensus estimate of ($0.46), but analysts predict a full-year EPS of -2.01.

Atea Pharmaceuticals (NASDAQ:AVIR - Get Free Report)'s stock had its "sell (d-)" rating restated by analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen cut Atea Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Atea Pharmaceuticals currently has a consensus rating of "Hold" and an average target price of $6.00.

Atea Pharmaceuticals Stock Performance

Shares of Atea Pharmaceuticals stock traded up $0.13 on Wednesday, hitting $3.10. The company's stock had a trading volume of 1,153,559 shares, compared to its average volume of 377,466. Atea Pharmaceuticals has a 1 year low of $2.45 and a 1 year high of $4.02. The company has a market capitalization of $246.02 million, a price-to-earnings ratio of -1.93 and a beta of 0.22. The firm has a fifty day moving average price of $3.27 and a 200-day moving average price of $3.18.

Atea Pharmaceuticals (NASDAQ:AVIR - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.44) earnings per share for the quarter, topping the consensus estimate of ($0.46) by $0.02. As a group, analysts forecast that Atea Pharmaceuticals will post -2.01 EPS for the current year.

Institutional Trading of Atea Pharmaceuticals

A number of large investors have recently modified their holdings of AVIR. Prudential Financial Inc. acquired a new position in shares of Atea Pharmaceuticals during the second quarter worth $36,000. Johnson Investment Counsel Inc. acquired a new position in shares of Atea Pharmaceuticals during the second quarter worth $55,000. Millennium Management LLC acquired a new position in Atea Pharmaceuticals in the fourth quarter valued at $75,000. Marshall Wace LLP acquired a new position in Atea Pharmaceuticals in the second quarter valued at $90,000. Finally, Aldebaran Capital LLC acquired a new position in Atea Pharmaceuticals in the first quarter valued at $112,000. Hedge funds and other institutional investors own 86.67% of the company's stock.

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.

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