Acadian Asset Management LLC Lowers Holdings in Atea Pharmaceuticals, Inc. $AVIR

Acadian Asset Management LLC lessened its stake in shares of Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) by 1.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 917,846 shares of the company’s stock after selling 15,079 shares during the quarter. Acadian Asset Management LLC owned about 1.07% of Atea Pharmaceuticals worth $2,743,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. Peapod Lane Capital LLC raised its stake 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 buying an additional 123,479 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Atea Pharmaceuticals by 23.3% in the fourth quarter. Bank of America Corp DE now owns 73,441 shares of the company’s stock worth $246,000 after acquiring an additional 13,902 shares during the period. BNP Paribas Financial Markets purchased a new position in Atea Pharmaceuticals in the fourth quarter worth about $323,000. D. E. Shaw & Co. Inc. boosted its position in Atea Pharmaceuticals by 32.3% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 256,083 shares of the company’s stock worth $858,000 after purchasing an additional 62,505 shares during the last quarter. Finally, Squarepoint Ops LLC grew its stake in shares of Atea Pharmaceuticals by 223.3% during the 4th quarter. Squarepoint Ops LLC now owns 50,750 shares of the company’s stock valued at $170,000 after purchasing an additional 35,053 shares during the period. 86.67% of the stock is owned by hedge funds and other institutional investors.

Atea Pharmaceuticals Trading Down 3.2%

Shares of AVIR stock opened at $3.04 on Tuesday. The stock has a market capitalization of $241.25 million, a price-to-earnings ratio of -1.89 and a beta of 0.25. Atea Pharmaceuticals, Inc. has a 12-month low of $2.45 and a 12-month high of $4.14. The stock’s 50-day moving average price is $3.50 and its 200-day moving average price is $3.20.

Atea Pharmaceuticals (NASDAQ:AVIR) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.44) EPS for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.02. As a group, research analysts predict that Atea Pharmaceuticals, Inc. will post -2.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of Atea Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $6.00.

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.