Morgan Stanley Lowers Atea Pharmaceuticals (NASDAQ:AVIR) Price Target to $6.00

Atea Pharmaceuticals (NASDAQ:AVIR - Get Free Report) had its target price reduced by equities research analysts at Morgan Stanley from $6.20 to $6.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Morgan Stanley's price target suggests a potential upside of 104.78% from the stock's previous close.

Separately, William Blair reaffirmed an "outperform" rating on shares of Atea Pharmaceuticals in a research note on Friday, March 7th.

Atea Pharmaceuticals Price Performance

Shares of AVIR stock traded up $0.11 during trading hours on Friday, reaching $2.93. 159,183 shares of the company were exchanged, compared to its average volume of 281,706. The company has a market cap of $250.59 million, a price-to-earnings ratio of -1.42 and a beta of 0.17. The stock's fifty day moving average is $3.00 and its two-hundred day moving average is $3.19. Atea Pharmaceuticals has a fifty-two week low of $2.60 and a fifty-two week high of $4.15.

Atea Pharmaceuticals (NASDAQ:AVIR - Get Free Report) last released its earnings results on Thursday, March 6th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.05). On average, research analysts anticipate that Atea Pharmaceuticals will post -2.01 earnings per share for the current year.

Institutional Trading of Atea Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in AVIR. Charles Schwab Investment Management Inc. grew its stake in shares of Atea Pharmaceuticals by 8.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 650,157 shares of the company's stock worth $2,178,000 after purchasing an additional 50,794 shares during the period. State Street Corp grew its position in shares of Atea Pharmaceuticals by 0.7% during 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 during the period. Barclays PLC increased its stake in shares of Atea Pharmaceuticals by 74.5% in the 3rd quarter. Barclays PLC now owns 177,077 shares of the company's stock valued at $593,000 after acquiring an additional 75,624 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Atea Pharmaceuticals in the 3rd quarter valued at approximately $99,000. Finally, JPMorgan Chase & Co. boosted its stake in Atea Pharmaceuticals by 106.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 95,244 shares of the company's stock worth $319,000 after acquiring an additional 49,028 shares during the last quarter. 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.