Voya Investment Management LLC Reduces Stock Position in Atea Pharmaceuticals, Inc. $AVIR

Voya Investment Management LLC cut its stake in Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) by 14.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,097 shares of the company’s stock after selling 4,245 shares during the period. Voya Investment Management LLC’s holdings in Atea Pharmaceuticals were worth $75,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in AVIR. Bank of America Corp DE grew its position 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 valued at $246,000 after purchasing an additional 13,902 shares in the last quarter. Millennium Management LLC purchased a new position in Atea Pharmaceuticals in the fourth quarter worth approximately $75,000. ProShare Advisors LLC grew its position in Atea Pharmaceuticals by 31.5% in the fourth quarter. ProShare Advisors LLC now owns 25,733 shares of the company’s stock worth $86,000 after acquiring an additional 6,163 shares during the period. Squarepoint Ops LLC grew its position in Atea Pharmaceuticals by 223.3% in 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 during the period. Finally, Peapod Lane Capital LLC grew its position in Atea Pharmaceuticals by 37.6% in the first quarter. Peapod Lane Capital LLC now owns 452,060 shares of the company’s stock worth $1,352,000 after acquiring an additional 123,479 shares during the period. 86.67% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Atea Pharmaceuticals Stock Down 0.7%

NASDAQ:AVIR opened at $2.88 on Thursday. The stock has a market capitalization of $228.56 million, a price-to-earnings ratio of -1.79 and a beta of 0.22. Atea Pharmaceuticals, Inc. has a 52 week low of $2.45 and a 52 week high of $4.02. The stock’s fifty day moving average is $3.35 and its two-hundred day moving average is $3.19.

Atea Pharmaceuticals (NASDAQ:AVIR) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.46) by $0.02. On average, sell-side 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.