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

Atea Pharmaceuticals, Inc. (NASDAQ:AVIR – Get Rating) was the recipient of a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 2,090,000 shares, a decline of 27.2% from the March 15th total of 2,870,000 shares. Currently, 2.9% of the shares of the company are sold short. Based on an average daily volume of 1,050,000 shares, the short-interest ratio is presently 2.0 days.

NASDAQ:AVIR opened at $6.59 on Friday. The company has a fifty day moving average of $6.54 and a two-hundred day moving average of $11.07. The stock has a market capitalization of $548.49 million, a PE ratio of 4.85 and a beta of -1.45. Atea Pharmaceuticals has a fifty-two week low of $5.38 and a fifty-two week high of $55.03.

Atea Pharmaceuticals (NASDAQ:AVIR – Get Rating) last released its earnings results on Monday, February 28th. The company reported $1.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $1.02. Atea Pharmaceuticals had a net margin of 34.49% and a return on equity of 19.58%. Equities research analysts predict that Atea Pharmaceuticals will post -2.57 earnings per share for the current year.

AVIR has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Atea Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, March 1st. SVB Leerink reduced their price objective on shares of Atea Pharmaceuticals from $10.00 to $9.00 and set a “market perform” rating for the company in a research report on Tuesday, March 1st. Morgan Stanley cut shares of Atea Pharmaceuticals from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $14.00 to $7.00 in a research report on Thursday, January 6th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Atea Pharmaceuticals from $10.00 to $8.00 and set a “neutral” rating for the company in a research report on Wednesday, March 2nd.

Institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its holdings in shares of Atea Pharmaceuticals by 8,302.9% during the third quarter. Russell Investments Group Ltd. now owns 142,514 shares of the company’s stock worth $4,934,000 after buying an additional 140,818 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Atea Pharmaceuticals in the third quarter valued at about $213,000. CM Management LLC grew its holdings in shares of Atea Pharmaceuticals by 11.1% in the third quarter. CM Management LLC now owns 100,000 shares of the company’s stock valued at $3,506,000 after purchasing an additional 10,000 shares during the period. Man Group plc grew its holdings in shares of Atea Pharmaceuticals by 558.6% in the third quarter. Man Group plc now owns 87,610 shares of the company’s stock valued at $3,072,000 after purchasing an additional 74,307 shares during the period. Finally, Millennium Management LLC purchased a new stake in shares of Atea Pharmaceuticals in the third quarter valued at about $4,055,000. 78.02% of the stock is owned by institutional investors and hedge funds.

About Atea Pharmaceuticals (Get Rating)

Atea Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focused on discovering, developing, and commercializing antiviral therapeutics for patients suffering from viral infections. Its lead product candidate is AT-527, an antiviral drug candidate that is in Phase II clinical trial for the treatment of patients with COVID-19.

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