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

Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) was the recipient of a significant increase in short interest in December. As of December 15th, there was short interest totalling 3,180,000 shares, an increase of 21.8% from the November 30th total of 2,610,000 shares. Based on an average daily volume of 266,600 shares, the short-interest ratio is currently 11.9 days. Approximately 4.3% of the company’s stock are short sold.

Atea Pharmaceuticals Price Performance

Shares of AVIR stock traded up $0.06 during mid-day trading on Tuesday, hitting $3.39. 158,643 shares of the stock traded hands, compared to its average volume of 312,285. Atea Pharmaceuticals has a 52-week low of $2.75 and a 52-week high of $4.60. The stock has a market cap of $286.33 million, a P/E ratio of -1.64 and a beta of 0.20. The stock’s fifty day moving average is $3.28 and its two-hundred day moving average is $3.48.

Atea Pharmaceuticals (NASDAQ:AVIR) last posted its earnings results on Thursday, November 7th. The company reported ($0.37) EPS for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.13. During the same quarter in the previous year, the firm posted ($0.40) EPS. As a group, equities analysts forecast that Atea Pharmaceuticals will post -2.01 EPS for the current fiscal year.

Insider Activity

In other news, Director Franklin M. Berger sold 359,606 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $2.85, for a total value of $1,024,877.10. Following the completion of the transaction, the director now directly owns 451,897 shares of the company’s stock, valued at approximately $1,287,906.45. The trade was a 44.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 17.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AVIR. Intech Investment Management LLC acquired a new stake in Atea Pharmaceuticals in the third quarter worth about $36,000. Dynamic Technology Lab Private Ltd acquired a new stake in Atea Pharmaceuticals in the 3rd quarter worth approximately $37,000. China Universal Asset Management Co. Ltd. grew its position in 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 last quarter. Zacks Investment Management acquired a new position in Atea Pharmaceuticals during the 3rd quarter valued at approximately $80,000. Finally, Virtu Financial LLC purchased a new stake in shares of Atea Pharmaceuticals during the third quarter valued at $99,000. 86.67% of the stock is currently owned by hedge funds and other institutional investors.

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.