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

Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) was the recipient of a significant drop in short interest in December. As of December 31st, there was short interest totalling 2,770,000 shares, a drop of 12.9% from the December 15th total of 3,180,000 shares. Based on an average daily volume of 309,000 shares, the short-interest ratio is presently 9.0 days. Approximately 3.7% of the shares of the stock are short sold.

Atea Pharmaceuticals Stock Performance

Shares of NASDAQ:AVIR traded up $0.04 on Friday, reaching $3.37. The company’s stock had a trading volume of 337,674 shares, compared to its average volume of 485,999. The company has a 50-day simple moving average of $3.25 and a 200 day simple moving average of $3.46. Atea Pharmaceuticals has a 52-week low of $2.75 and a 52-week high of $4.60. The company has a market cap of $284.63 million, a P/E ratio of -1.63 and a beta of 0.20.

Atea Pharmaceuticals (NASDAQ:AVIR) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.13. During the same period in the previous year, the business posted ($0.40) earnings per share. On average, equities research analysts forecast that Atea Pharmaceuticals will post -2.01 EPS for the current fiscal year.

Insider Activity

In related news, Director Franklin M. Berger sold 359,606 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $2.85, for a total value of $1,024,877.10. Following the sale, the director now owns 451,897 shares in the company, valued at approximately $1,287,906.45. The trade was a 44.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 17.80% of the company’s stock.

Hedge Funds Weigh In On Atea Pharmaceuticals

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

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.