Atea Pharmaceuticals, Inc. $AVIR Stock Position Reduced by BML Capital Management LLC

BML Capital Management LLC lessened its stake in shares of Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) by 2.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,753,658 shares of the company’s stock after selling 198,672 shares during the period. Atea Pharmaceuticals accounts for approximately 18.8% of BML Capital Management LLC’s holdings, making the stock its 2nd biggest position. BML Capital Management LLC owned 8.42% of Atea Pharmaceuticals worth $35,187,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Legal & General Group Plc purchased a new position in shares of Atea Pharmaceuticals during the second quarter valued at about $33,000. Quantinno Capital Management LP bought a new stake in shares of Atea Pharmaceuticals in the first quarter worth about $86,000. Spark Investment Management LLC purchased a new stake in shares of Atea Pharmaceuticals in the second quarter worth about $75,000. Headlands Technologies LLC purchased a new stake in shares of Atea Pharmaceuticals in the second quarter worth about $77,000. Finally, Engineers Gate Manager LP purchased a new stake in shares of Atea Pharmaceuticals in the second quarter worth about $78,000. Institutional investors own 86.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on AVIR shares. Wall Street Zen raised Atea Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, September 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Atea Pharmaceuticals in a research note on Thursday, October 15th. Finally, Morgan Stanley upped their price objective on Atea Pharmaceuticals from $6.00 to $7.00 and gave the stock an “equal weight” rating in a report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Atea Pharmaceuticals has a consensus rating of “Hold” and an average price target of $7.00.

Atea Pharmaceuticals Stock Performance

NASDAQ AVIR opened at $4.30 on Friday. The business’s 50 day moving average price is $4.79 and its 200-day moving average price is $4.94. Atea Pharmaceuticals, Inc. has a fifty-two week low of $2.89 and a fifty-two week high of $6.45. The company has a market cap of $345.29 million, a P/E ratio of -2.21 and a beta of 0.76.

Atea Pharmaceuticals (NASDAQ:AVIR) last issued its quarterly earnings results on Monday, November 9th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.11. As a group, equities analysts predict that Atea Pharmaceuticals, Inc. will post -1.91 EPS for the current year.

Atea Pharmaceuticals Profile

Atea Pharmaceuticals is a clinical-stage biopharmaceutical company focused on discovering and developing oral antiviral medicines for serious viral diseases. Its research centers on compounds intended to interfere with viral replication. The company’s investigational portfolio has included bemnifosbuvir, an oral antiviral candidate studied for COVID-19, as well as programs targeting other viral infections, including dengue. These medicines are investigational and are not established marketed treatments.