ADAR1 Capital Management LLC Purchases New Shares in Atea Pharmaceuticals, Inc. (NASDAQ:AVIR)

ADAR1 Capital Management LLC bought a new stake in shares of Atea Pharmaceuticals, Inc. (NASDAQ:AVIR - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 110,000 shares of the company's stock, valued at approximately $368,000. ADAR1 Capital Management LLC owned approximately 0.13% of Atea Pharmaceuticals at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. BML Capital Management LLC boosted its holdings in shares of Atea Pharmaceuticals by 14.4% during the 4th quarter. BML Capital Management LLC now owns 7,608,312 shares of the company's stock worth $25,488,000 after buying an additional 958,312 shares in the last quarter. FMR LLC lifted its position in shares of Atea Pharmaceuticals by 2.8% during the 3rd quarter. FMR LLC now owns 6,618,297 shares of the company's stock valued at $22,171,000 after acquiring an additional 182,174 shares during the period. State Street Corp boosted its stake in Atea Pharmaceuticals by 0.7% during the third quarter. State Street Corp now owns 1,733,486 shares of the company's stock worth $5,807,000 after acquiring an additional 11,566 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Atea Pharmaceuticals by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 659,527 shares of the company's stock worth $2,209,000 after purchasing an additional 9,370 shares during the period. Finally, Federated Hermes Inc. increased its stake in Atea Pharmaceuticals by 1.9% in the fourth quarter. Federated Hermes Inc. now owns 582,939 shares of the company's stock valued at $1,953,000 after purchasing an additional 10,856 shares in the last quarter. Institutional investors and hedge funds own 86.67% of the company's stock.

Atea Pharmaceuticals Stock Up 0.7 %

AVIR stock traded up $0.02 during midday trading on Friday, reaching $2.71. 326,630 shares of the company's stock traded hands, compared to its average volume of 280,607. The firm's fifty day moving average price is $3.01 and its 200-day moving average price is $3.20. Atea Pharmaceuticals, Inc. has a 52 week low of $2.60 and a 52 week high of $4.15. The company has a market cap of $231.77 million, a price-to-earnings ratio of -1.31 and a beta of 0.17.

Atea Pharmaceuticals (NASDAQ:AVIR - Get Free Report) last issued its quarterly earnings data on Thursday, March 6th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.05). Analysts forecast that Atea Pharmaceuticals, Inc. will post -2.01 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AVIR. Morgan Stanley cut their price objective on shares of Atea Pharmaceuticals from $6.20 to $6.00 and set an "equal weight" rating on the stock in a research report on Friday. William Blair reissued an "outperform" rating on shares of Atea Pharmaceuticals in a research note on Friday, March 7th.

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.