Atea Pharmaceuticals, Inc. $AVIR is BML Capital Management LLC’s 2nd Largest Position

BML Capital Management LLC reduced its position in Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) by 5.8% in the 1st quarter, Holdings Channel reports. The firm owned 7,058,657 shares of the company’s stock after selling 431,343 shares during the quarter. Atea Pharmaceuticals accounts for about 24.4% of BML Capital Management LLC’s portfolio, making the stock its 2nd largest position. BML Capital Management LLC owned 0.09% of Atea Pharmaceuticals worth $37,976,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in Atea Pharmaceuticals by 118.6% in the 4th quarter. JPMorgan Chase & Co. now owns 1,348,294 shares of the company’s stock valued at $4,813,000 after purchasing an additional 731,443 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Atea Pharmaceuticals by 179.2% during the third quarter. Millennium Management LLC now owns 487,223 shares of the company’s stock worth $1,413,000 after buying an additional 312,733 shares in the last quarter. Bank of America Corp DE raised its position in shares of Atea Pharmaceuticals by 185.8% in the third quarter. Bank of America Corp DE now owns 313,644 shares of the company’s stock valued at $910,000 after buying an additional 203,905 shares during the last quarter. Opaleye Management Inc. acquired a new stake in shares of Atea Pharmaceuticals in the fourth quarter valued at about $642,000. Finally, Goldman Sachs Group Inc. raised its position in shares of Atea Pharmaceuticals by 38.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 472,522 shares of the company’s stock valued at $1,687,000 after buying an additional 132,382 shares during the last quarter. Hedge funds and other institutional investors own 86.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Atea Pharmaceuticals in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Atea Pharmaceuticals currently has an average rating of “Moderate Buy”.

Atea Pharmaceuticals Trading Down 2.9%

Shares of AVIR stock opened at $4.72 on Friday. Atea Pharmaceuticals, Inc. has a twelve month low of $2.78 and a twelve month high of $6.45. The company’s 50-day moving average price is $4.56 and its 200-day moving average price is $4.73. The stock has a market cap of $377.74 million, a price-to-earnings ratio of -2.24 and a beta of 0.31.

Atea Pharmaceuticals (NASDAQ:AVIR) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.57) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.60) by $0.03. As a group, equities research analysts predict that Atea Pharmaceuticals, Inc. will post -1.93 EPS for the current year.

Atea Pharmaceuticals Company Profile

Atea Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of oral antiviral therapeutics targeting RNA viruses. The company’s lead program, AT-527, is a direct-acting nucleotide prodrug licensed from Roche and is being evaluated as a potential treatment for coronavirus disease 2019 (COVID-19). In addition to its COVID-19 efforts, Atea’s pipeline includes other small-molecule candidates for hepatitis C virus and emerging RNA pathogens, leveraging its proprietary nucleotide chemistry platform to address significant unmet medical needs in infectious diseases.

Founded in 2014 and headquartered in Cambridge, Massachusetts, Atea operates research laboratories in the Greater Boston area and conducts clinical studies across North America, Europe and parts of Asia.