BML Capital Management LLC Cuts Holdings in Atea Pharmaceuticals, Inc. $AVIR

BML Capital Management LLC lessened its holdings in shares of Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) by 1.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,473,963 shares of the company’s stock after selling 135,849 shares during the quarter. Atea Pharmaceuticals accounts for approximately 16.7% of BML Capital Management LLC’s portfolio, making the stock its 2nd largest position. BML Capital Management LLC owned about 9.42% of Atea Pharmaceuticals worth $21,674,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Prudential Financial Inc. acquired a new position in shares of Atea Pharmaceuticals during the second quarter valued at about $36,000. SG Americas Securities LLC bought a new position in Atea Pharmaceuticals in the 3rd quarter valued at about $59,000. Marshall Wace LLP acquired a new position in Atea Pharmaceuticals during the 2nd quarter valued at about $90,000. Los Angeles Capital Management LLC acquired a new position in Atea Pharmaceuticals during the 2nd quarter valued at about $123,000. Finally, Brevan Howard Capital Management LP bought a new stake in Atea Pharmaceuticals during the 2nd quarter worth approximately $132,000. Institutional investors and hedge funds own 86.67% of the company’s stock.

Wall Street Analyst Weigh In

AVIR has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Atea Pharmaceuticals in a report on Wednesday, January 21st. Evercore raised Atea Pharmaceuticals to a “strong-buy” rating in a research report on Friday, November 28th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $6.00.

Atea Pharmaceuticals Stock Down 1.9%

AVIR stock opened at $4.65 on Monday. The firm has a market cap of $363.30 million, a PE ratio of -2.63 and a beta of 0.24. The business has a 50 day moving average of $3.78 and a 200-day moving average of $3.40. Atea Pharmaceuticals, Inc. has a 12-month low of $2.45 and a 12-month high of $4.80.

Atea Pharmaceuticals Profile

Atea Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of oral antiviral therapeutics targeting RNA viruses. The company’s lead program, AT-527, is a direct-acting nucleotide prodrug licensed from Roche and is being evaluated as a potential treatment for coronavirus disease 2019 (COVID-19). In addition to its COVID-19 efforts, Atea’s pipeline includes other small-molecule candidates for hepatitis C virus and emerging RNA pathogens, leveraging its proprietary nucleotide chemistry platform to address significant unmet medical needs in infectious diseases.

Founded in 2014 and headquartered in Cambridge, Massachusetts, Atea operates research laboratories in the Greater Boston area and conducts clinical studies across North America, Europe and parts of Asia.