Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) Short Interest Update

Atea Pharmaceuticals, Inc. (NASDAQ:AVIR - Get Free Report) saw a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 3,180,000 shares, an increase of 21.8% from the November 30th total of 2,610,000 shares. Currently, 4.3% of the shares of the company are sold short. Based on an average trading volume of 266,600 shares, the days-to-cover ratio is presently 11.9 days.

Insider Activity

In related news, Director Franklin M. Berger sold 359,606 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $2.85, for a total value of $1,024,877.10. Following the completion of the transaction, the director now directly owns 451,897 shares of the company's stock, valued at $1,287,906.45. This represents a 44.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 17.80% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BML Capital Management LLC lifted its position in Atea Pharmaceuticals by 4.3% in the third quarter. BML Capital Management LLC now owns 6,650,000 shares of the company's stock worth $22,278,000 after purchasing an additional 274,379 shares during the period. FMR LLC raised its stake in shares of Atea Pharmaceuticals by 2.8% in the 3rd quarter. FMR LLC now owns 6,618,297 shares of the company's stock worth $22,171,000 after buying an additional 182,174 shares in the last quarter. State Street Corp raised its stake in shares of Atea Pharmaceuticals by 0.7% in the 3rd quarter. State Street Corp now owns 1,733,486 shares of the company's stock worth $5,807,000 after buying an additional 11,566 shares in the last quarter. Almitas Capital LLC acquired a new stake in shares of Atea Pharmaceuticals in the second quarter valued at $4,271,000. Finally, Renaissance Technologies LLC boosted its stake in Atea Pharmaceuticals by 1.6% during the second quarter. Renaissance Technologies LLC now owns 1,141,500 shares of the company's stock valued at $3,778,000 after buying an additional 18,100 shares in the last quarter. 86.67% of the stock is currently owned by institutional investors.

Atea Pharmaceuticals Stock Up 1.2 %

AVIR stock traded up $0.04 during trading on Friday, reaching $3.33. 640,959 shares of the company's stock were exchanged, compared to its average volume of 312,536. Atea Pharmaceuticals has a 1-year low of $2.75 and a 1-year high of $4.60. The firm has a market cap of $281.26 million, a PE ratio of -1.61 and a beta of 0.20. The company's fifty day moving average price is $3.28 and its 200-day moving average price is $3.48.

Atea Pharmaceuticals (NASDAQ:AVIR - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.13. During the same quarter last year, the company posted ($0.40) earnings per share. As a group, sell-side analysts expect that Atea Pharmaceuticals will post -2.01 earnings per share for the current fiscal 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.