Fmr LLC Grows Position in Atea Pharmaceuticals, Inc. (NASDAQ:AVIR)

Fmr LLC lifted its stake in Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) by 15.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,410,530 shares of the company’s stock after buying an additional 1,651,735 shares during the quarter. Fmr LLC owned approximately 15.00% of Atea Pharmaceuticals worth $266,579,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Congress Asset Management Co. MA lifted its holdings in shares of Atea Pharmaceuticals by 282.1% in the second quarter. Congress Asset Management Co. MA now owns 154,266 shares of the company’s stock worth $3,314,000 after buying an additional 113,891 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Atea Pharmaceuticals by 37.1% in the first quarter. Rhumbline Advisers now owns 17,163 shares of the company’s stock worth $1,060,000 after buying an additional 4,647 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Atea Pharmaceuticals in the first quarter worth $347,000. Virtus ETF Advisers LLC purchased a new position in shares of Atea Pharmaceuticals in the second quarter worth $202,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Atea Pharmaceuticals in the second quarter worth $13,221,000. 70.41% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts recently issued reports on the stock. SVB Leerink assumed coverage on shares of Atea Pharmaceuticals in a research note on Thursday, September 9th. They set an “outperform” rating and a $60.00 price target on the stock. Zacks Investment Research raised shares of Atea Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 3rd. Finally, Morgan Stanley downgraded shares of Atea Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $55.00 price target on the stock. in a research note on Tuesday, October 5th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $61.00.

Shares of AVIR opened at $41.70 on Thursday. Atea Pharmaceuticals, Inc. has a twelve month low of $18.72 and a twelve month high of $94.17. The company’s fifty day simple moving average is $31.84 and its 200-day simple moving average is $30.38.

Atea Pharmaceuticals (NASDAQ:AVIR) last announced its earnings results on Wednesday, August 11th. The company reported $0.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.01. The firm had revenue of $60.39 million during the quarter, compared to analysts’ expectations of $115.99 million. On average, equities research analysts predict that Atea Pharmaceuticals, Inc. will post 0.75 earnings per share for the current year.

About Atea Pharmaceuticals

Atea Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focused on discovering, developing, and commercializing antiviral therapeutics for patients suffering from viral infections. Its lead product candidate is AT-527, a novel antiviral agent that is in Phase II clinical trial for the treatment of patients with COVID-19.

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Institutional Ownership by Quarter for Atea Pharmaceuticals (NASDAQ:AVIR)

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