Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) Short Interest Update

Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) was the target of a large drop in short interest in the month of October. As of October 15th, there was short interest totalling 2,630,000 shares, a drop of 5.4% from the September 30th total of 2,780,000 shares. Approximately 3.6% of the company’s stock are short sold. Based on an average daily volume of 204,600 shares, the short-interest ratio is currently 12.9 days.

Insider Buying and Selling at Atea Pharmaceuticals

In other Atea Pharmaceuticals news, CEO Jean-Pierre Sommadossi sold 33,941 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $4.05, for a total value of $137,461.05. Following the completion of the transaction, the chief executive officer now directly owns 5,890,053 shares in the company, valued at approximately $23,854,714.65. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 17.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. increased its position in Atea Pharmaceuticals by 64.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 16,237 shares of the company’s stock worth $54,000 after buying an additional 6,343 shares during the period. Tidal Investments LLC acquired a new position in shares of Atea Pharmaceuticals during the 1st quarter worth $87,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Atea Pharmaceuticals in the first quarter valued at about $123,000. SG Americas Securities LLC raised its position in shares of Atea Pharmaceuticals by 117.9% during the 3rd quarter. SG Americas Securities LLC now owns 30,612 shares of the company’s stock worth $103,000 after purchasing an additional 16,561 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Atea Pharmaceuticals by 14.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 34,886 shares of the company’s stock valued at $115,000 after buying an additional 4,339 shares in the last quarter. Institutional investors and hedge funds own 86.67% of the company’s stock.

Atea Pharmaceuticals Stock Performance

Shares of Atea Pharmaceuticals stock opened at $3.29 on Friday. The company has a market cap of $277.74 million, a P/E ratio of -1.57 and a beta of 0.17. The firm has a 50-day simple moving average of $3.58 and a two-hundred day simple moving average of $3.62. Atea Pharmaceuticals has a fifty-two week low of $2.77 and a fifty-two week high of $4.60.

Atea Pharmaceuticals (NASDAQ:AVIR) last issued its earnings results on Wednesday, August 7th. The company reported ($0.48) earnings per share for the quarter, topping the consensus estimate of ($0.76) by $0.28. During the same period last year, the firm earned ($0.34) EPS. Equities research analysts forecast that Atea Pharmaceuticals will post -2.21 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AVIR. Morgan Stanley raised Atea Pharmaceuticals from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $2.00 to $6.88 in a report on Tuesday, August 13th. William Blair raised shares of Atea Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th.

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.