Northern Trust Corp Boosts Holdings in Atea Pharmaceuticals, Inc. (NASDAQ:AVIR)

Northern Trust Corp lifted its stake in Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) by 2.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 704,909 shares of the company’s stock after buying an additional 17,471 shares during the period. Northern Trust Corp owned approximately 0.83% of Atea Pharmaceuticals worth $2,361,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of AVIR. BML Capital Management LLC grew its position in Atea Pharmaceuticals by 14.4% during the 4th quarter. BML Capital Management LLC now owns 7,608,312 shares of the company’s stock worth $25,488,000 after purchasing an additional 958,312 shares during the last quarter. Peapod Lane Capital LLC purchased a new position in Atea Pharmaceuticals during the 4th quarter worth $1,101,000. JPMorgan Chase & Co. grew its position in Atea Pharmaceuticals by 329.7% during the 4th quarter. JPMorgan Chase & Co. now owns 409,259 shares of the company’s stock worth $1,371,000 after purchasing an additional 314,015 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Atea Pharmaceuticals by 23.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 977,470 shares of the company’s stock worth $3,274,000 after purchasing an additional 183,844 shares during the last quarter. Finally, ADAR1 Capital Management LLC purchased a new position in Atea Pharmaceuticals during the 4th quarter worth $368,000. 86.67% of the stock is owned by hedge funds and other institutional investors.

Atea Pharmaceuticals Stock Up 1.8%

Shares of Atea Pharmaceuticals stock opened at $2.90 on Monday. Atea Pharmaceuticals, Inc. has a 52-week low of $2.46 and a 52-week high of $4.15. The company’s 50-day simple moving average is $2.88 and its 200-day simple moving average is $3.07. The firm has a market cap of $248.18 million, a price-to-earnings ratio of -1.40 and a beta of 0.17.

Atea Pharmaceuticals (NASDAQ:AVIR) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.16. Equities research analysts anticipate that Atea Pharmaceuticals, Inc. will post -2.01 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on AVIR. Wall Street Zen raised shares of Atea Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday. William Blair reissued an “outperform” rating on shares of Atea Pharmaceuticals in a research report on Friday, March 7th. Finally, Morgan Stanley lowered their price objective on shares of Atea Pharmaceuticals from $6.20 to $6.00 and set an “equal weight” rating on the stock in a research report on Friday, April 11th.

About Atea Pharmaceuticals

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.