Atea Pharmaceuticals, Inc. $AVIR Shares Sold by BML Capital Management LLC

BML Capital Management LLC reduced its position in Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) by 2.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,753,658 shares of the company’s stock after selling 198,672 shares during the quarter. Atea Pharmaceuticals accounts for approximately 18.8% of BML Capital Management LLC’s holdings, making the stock its 2nd biggest holding. BML Capital Management LLC owned approximately 0.08% of Atea Pharmaceuticals worth $35,187,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Atea Pharmaceuticals during the second quarter valued at approximately $40,548,000. Irenic Capital Management LP bought a new position in shares of Atea Pharmaceuticals during the first quarter valued at approximately $1,623,000. Hsbc Holdings PLC grew its stake in shares of Atea Pharmaceuticals by 7.3% during the first quarter. Hsbc Holdings PLC now owns 258,989 shares of the company’s stock valued at $1,380,000 after buying an additional 17,715 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Atea Pharmaceuticals in the first quarter worth approximately $1,133,000. Finally, Wellington Management Group LLP raised its holdings in shares of Atea Pharmaceuticals by 262.7% in the second quarter. Wellington Management Group LLP now owns 206,785 shares of the company’s stock worth $962,000 after buying an additional 149,776 shares during the period. Institutional investors own 86.67% of the company’s stock.

Atea Pharmaceuticals Stock Performance

Shares of AVIR opened at $4.30 on Friday. The company has a 50 day moving average price of $4.79 and a 200-day moving average price of $4.94. Atea Pharmaceuticals, Inc. has a fifty-two week low of $2.89 and a fifty-two week high of $6.45. The stock has a market capitalization of $345.29 million, a PE ratio of -2.21 and a beta of 0.76.

Atea Pharmaceuticals (NASDAQ:AVIR) last issued its quarterly earnings data on Monday, November 9th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.51) by $0.11. Equities research analysts forecast that Atea Pharmaceuticals, Inc. will post -1.91 EPS for the current year.

Analysts Set New Price Targets

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

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.