Rhumbline Advisers Cuts Stock Position in Atea Pharmaceuticals, Inc. $AVIR

Rhumbline Advisers lowered its stake in Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) by 10.3% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 116,443 shares of the company’s stock after selling 13,353 shares during the period. Rhumbline Advisers owned 0.14% of Atea Pharmaceuticals worth $348,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Millennium Management LLC purchased a new stake in shares of Atea Pharmaceuticals in the 4th quarter worth approximately $75,000. ProShare Advisors LLC boosted its stake in Atea Pharmaceuticals by 31.5% during the 4th quarter. ProShare Advisors LLC now owns 25,733 shares of the company’s stock valued at $86,000 after purchasing an additional 6,163 shares during the last quarter. Aldebaran Capital LLC purchased a new stake in Atea Pharmaceuticals during the 1st quarter valued at $112,000. MetLife Investment Management LLC boosted its stake in Atea Pharmaceuticals by 22.6% during the 1st quarter. MetLife Investment Management LLC now owns 45,456 shares of the company’s stock valued at $136,000 after purchasing an additional 8,365 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its stake in 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 last quarter. Hedge funds and other institutional investors own 86.67% of the company’s stock.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $6.00.

Atea Pharmaceuticals Price Performance

AVIR stock opened at $2.90 on Thursday. The company has a market cap of $230.14 million, a P/E ratio of -1.80 and a beta of 0.24. Atea Pharmaceuticals, Inc. has a 1 year low of $2.45 and a 1 year high of $4.02. The stock’s fifty day moving average price is $3.40 and its 200-day moving average price is $3.19.

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

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.