Atea Pharmaceuticals (NASDAQ:AVIR) Releases Earnings Results, Beats Expectations By $0.15 EPS

by · The Cerbat Gem

Atea Pharmaceuticals (NASDAQ:AVIR – Get Free Report) announced its quarterly earnings results on Wednesday. The company reported ($0.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.15, FiscalAI reports.

Atea Pharmaceuticals Price Performance

NASDAQ:AVIR traded up $0.01 during mid-day trading on Wednesday, hitting $5.06. 292,168 shares of the company’s stock were exchanged, compared to its average volume of 422,951. Atea Pharmaceuticals has a one year low of $2.78 and a one year high of $6.45. The business has a fifty day moving average price of $4.65 and a 200 day moving average price of $4.90. The company has a market cap of $404.94 million, a PE ratio of -2.40 and a beta of 0.30.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed 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 and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Get Our Latest Analysis on Atea Pharmaceuticals

Hedge Funds Weigh In On Atea Pharmaceuticals

Several large investors have recently made changes to their positions in the business. Prudential Financial Inc. purchased a new stake in shares of Atea Pharmaceuticals in the 2nd quarter worth approximately $36,000. BNP Paribas Financial Markets raised its stake in Atea Pharmaceuticals by 57.7% during the third quarter. BNP Paribas Financial Markets now owns 19,913 shares of the company’s stock valued at $58,000 after buying an additional 7,286 shares during the last quarter. Jump Financial LLC raised its stake in Atea Pharmaceuticals by 36.5% during the fourth quarter. Jump Financial LLC now owns 19,113 shares of the company’s stock valued at $68,000 after buying an additional 5,106 shares during the last quarter. Squarepoint Ops LLC bought a new stake in Atea Pharmaceuticals in the fourth quarter worth $69,000. Finally, Marshall Wace LLP bought a new stake in Atea Pharmaceuticals in the second quarter worth $90,000. 86.67% of the stock is currently owned by hedge funds and other institutional investors.

Atea Pharmaceuticals Company Profile

(Get Free Report)

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.

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