Atea Pharmaceuticals (NASDAQ:AVIR) Price Target Cut to $6.00 by Analysts at Morgan Stanley

Atea Pharmaceuticals (NASDAQ:AVIR) had its price objective reduced by Morgan Stanley from $6.20 to $6.00 in a research report sent to investors on Friday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Separately, William Blair reiterated an “outperform” rating on shares of Atea Pharmaceuticals in a research note on Friday, March 7th.

Atea Pharmaceuticals Stock Up 0.7 %

Shares of AVIR opened at $2.71 on Friday. Atea Pharmaceuticals has a twelve month low of $2.60 and a twelve month high of $4.15. The stock has a market capitalization of $231.77 million, a P/E ratio of -1.31 and a beta of 0.17. The company has a 50 day moving average of $3.01 and a 200-day moving average of $3.20.

Atea Pharmaceuticals (NASDAQ:AVIR) last released its earnings results on Thursday, March 6th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.05). On average, sell-side analysts anticipate that Atea Pharmaceuticals will post -2.01 earnings per share for the current fiscal year.

Institutional Trading of Atea Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its holdings in Atea Pharmaceuticals by 8.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 650,157 shares of the company’s stock valued at $2,178,000 after acquiring an additional 50,794 shares during the period. State Street Corp grew its position in shares of Atea Pharmaceuticals by 0.7% in the third quarter. State Street Corp now owns 1,733,486 shares of the company’s stock valued at $5,807,000 after purchasing an additional 11,566 shares during the last quarter. Barclays PLC increased its stake in shares of Atea Pharmaceuticals by 74.5% during the third quarter. Barclays PLC now owns 177,077 shares of the company’s stock worth $593,000 after purchasing an additional 75,624 shares during the period. Virtu Financial LLC acquired a new stake in Atea Pharmaceuticals during the 3rd quarter worth approximately $99,000. Finally, JPMorgan Chase & Co. boosted its stake in Atea Pharmaceuticals by 106.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 95,244 shares of the company’s stock valued at $319,000 after purchasing an additional 49,028 shares during the period. 86.67% of the stock is owned by institutional investors and hedge funds.

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.