Atea Pharmaceuticals, Inc. $AVIR Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP grew its position in Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) by 262.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 206,785 shares of the company’s stock after acquiring an additional 149,776 shares during the quarter. Wellington Management Group LLP owned about 0.26% of Atea Pharmaceuticals worth $962,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Bank of America Corp DE purchased a new stake in shares of Atea Pharmaceuticals during the second quarter worth approximately $380,000. Hsbc Holdings PLC acquired a new position in Atea Pharmaceuticals in the 2nd quarter valued at $1,023,000. Legal & General Group Plc purchased a new position in Atea Pharmaceuticals in the 2nd quarter valued at $33,000. The Manufacturers Life Insurance Company purchased a new position in Atea Pharmaceuticals in the 2nd quarter valued at $82,000. Finally, Algert Global LLC acquired a new stake in Atea Pharmaceuticals during the 2nd quarter worth $179,000. 86.67% of the stock is owned by institutional investors and hedge funds.

Atea Pharmaceuticals Stock Performance

Shares of Atea Pharmaceuticals stock opened at $5.31 on Friday. Atea Pharmaceuticals, Inc. has a one year low of $2.78 and a one year high of $6.45. The company has a market cap of $425.89 million, a price-to-earnings ratio of -2.55 and a beta of 0.28. The business’s 50 day moving average price is $5.10 and its 200 day moving average price is $5.09.

Atea Pharmaceuticals (NASDAQ:AVIR) last issued its earnings results on Wednesday, August 12th. The company reported ($0.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.15. On average, analysts predict that Atea Pharmaceuticals, Inc. will post -1.99 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley upped their target price on shares of Atea Pharmaceuticals from $6.00 to $7.00 and gave the stock an “equal weight” rating in a report on Thursday, August 13th. Wall Street Zen raised shares of Atea Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Atea Pharmaceuticals in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Atea Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $7.00.

Atea Pharmaceuticals 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.