Atea Pharmaceuticals (NASDAQ:AVIR) Releases Quarterly Earnings Results, Misses Expectations By $0.07 EPS

Atea Pharmaceuticals (NASDAQ:AVIR) posted its earnings results on Wednesday. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.07), FiscalAI reports.

Atea Pharmaceuticals Trading Down 12.6%

Shares of AVIR stock opened at $3.06 on Friday. The stock has a 50 day simple moving average of $3.12 and a 200-day simple moving average of $3.24. The company has a market cap of $242.84 million, a price-to-earnings ratio of -1.73 and a beta of 0.23. Atea Pharmaceuticals has a 12-month low of $2.45 and a 12-month high of $4.02.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Wall Street Zen cut shares of Atea Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Atea Pharmaceuticals in a report on Wednesday, October 8th. One research 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, the company currently has an average rating of “Hold” and an average target price of $6.00.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its position in shares of Atea Pharmaceuticals by 57.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 19,913 shares of the company’s stock worth $58,000 after purchasing an additional 7,286 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Atea Pharmaceuticals by 9.2% in the third quarter. Dimensional Fund Advisors LP now owns 1,540,716 shares of the company’s stock valued at $4,468,000 after purchasing an additional 129,453 shares during the period. Rangeley Capital LLC acquired a new stake in shares of Atea Pharmaceuticals in the second quarter valued at about $191,000. Oxford Asset Management LLP boosted its holdings in Atea Pharmaceuticals by 83.7% during the second quarter. Oxford Asset Management LLP now owns 40,787 shares of the company’s stock worth $147,000 after buying an additional 18,585 shares in the last quarter. Finally, Brevan Howard Capital Management LP acquired a new position in Atea Pharmaceuticals during the second quarter worth about $132,000. 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.