Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) Short Interest Update

Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) saw a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 3,180,000 shares, a growth of 21.8% from the November 30th total of 2,610,000 shares. Currently, 4.3% of the company’s shares are sold short. Based on an average daily trading volume, of 266,600 shares, the days-to-cover ratio is presently 11.9 days.

Insiders Place Their Bets

In other Atea Pharmaceuticals news, Director Franklin M. Berger sold 359,606 shares of Atea Pharmaceuticals stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $2.85, for a total transaction of $1,024,877.10. Following the completion of the sale, the director now directly owns 451,897 shares of the company’s stock, valued at $1,287,906.45. The trade was a 44.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 17.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Atea Pharmaceuticals

Several large investors have recently bought and sold shares of AVIR. Intech Investment Management LLC acquired a new stake in shares of Atea Pharmaceuticals during the 3rd quarter valued at $36,000. Dynamic Technology Lab Private Ltd acquired a new stake in Atea Pharmaceuticals during the third quarter valued at $37,000. China Universal Asset Management Co. Ltd. grew its stake in Atea Pharmaceuticals by 64.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 16,237 shares of the company’s stock valued at $54,000 after purchasing an additional 6,343 shares in the last quarter. Zacks Investment Management bought a new stake in shares of Atea Pharmaceuticals during the 3rd quarter worth $80,000. Finally, Virtu Financial LLC acquired a new stake in Atea Pharmaceuticals in the 3rd quarter worth $99,000. Institutional investors and hedge funds own 86.67% of the company’s stock.

Atea Pharmaceuticals Trading Up 1.2 %

Shares of NASDAQ:AVIR traded up $0.04 on Friday, reaching $3.33. 640,959 shares of the company were exchanged, compared to its average volume of 312,536. The company has a 50-day moving average of $3.28 and a 200-day moving average of $3.48. The firm has a market cap of $281.26 million, a price-to-earnings ratio of -1.61 and a beta of 0.20. Atea Pharmaceuticals has a 1-year low of $2.75 and a 1-year high of $4.60.

Atea Pharmaceuticals (NASDAQ:AVIR) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.13. During the same quarter last year, the firm earned ($0.40) EPS. As a group, analysts forecast that Atea Pharmaceuticals will post -2.01 earnings per share for the current 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.