Charles Schwab Investment Management Inc. Reduces Position in Atea Pharmaceuticals, Inc. $AVIR

Charles Schwab Investment Management Inc. lessened its holdings in shares of Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) by 7.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 607,882 shares of the company’s stock after selling 51,645 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.71% of Atea Pharmaceuticals worth $1,818,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. CM Management LLC boosted its holdings in Atea Pharmaceuticals by 66.7% in the 1st quarter. CM Management LLC now owns 500,000 shares of the company’s stock worth $1,495,000 after buying an additional 200,000 shares during the period. Peapod Lane Capital LLC raised its holdings in Atea Pharmaceuticals by 37.6% during the 1st quarter. Peapod Lane Capital LLC now owns 452,060 shares of the company’s stock valued at $1,352,000 after acquiring an additional 123,479 shares during the period. Squarepoint Ops LLC lifted its position in shares of Atea Pharmaceuticals by 223.3% during the fourth quarter. Squarepoint Ops LLC now owns 50,750 shares of the company’s stock worth $170,000 after acquiring an additional 35,053 shares in the last quarter. Tang Capital Management LLC boosted its holdings in shares of Atea Pharmaceuticals by 3.9% in the fourth quarter. Tang Capital Management LLC now owns 4,788,912 shares of the company’s stock worth $16,043,000 after acquiring an additional 181,852 shares during the period. Finally, Shay Capital LLC boosted its holdings in shares of Atea Pharmaceuticals by 72.5% in the fourth quarter. Shay Capital LLC now owns 30,633 shares of the company’s stock worth $103,000 after acquiring an additional 12,871 shares during the period. Institutional investors own 86.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered Atea Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $6.00.

Atea Pharmaceuticals Price Performance

Shares of NASDAQ:AVIR opened at $3.36 on Monday. The firm has a fifty day moving average price of $3.56 and a two-hundred day moving average price of $3.18. Atea Pharmaceuticals, Inc. has a one year low of $2.45 and a one year high of $4.14. The company has a market cap of $266.65 million, a price-to-earnings ratio of -2.09 and a beta of 0.25.

Atea Pharmaceuticals (NASDAQ:AVIR) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.44) earnings per share for the quarter, topping the consensus estimate of ($0.46) by $0.02. Equities research analysts expect that Atea Pharmaceuticals, Inc. will post -2.01 EPS for the current fiscal year.

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.