Wellington Management Group LLP Boosts Holdings in Atea Pharmaceuticals, Inc. $AVIR

Wellington Management Group LLP lifted its position in shares of Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) by 262.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 206,785 shares of the company’s stock after buying an additional 149,776 shares during the period. Wellington Management Group LLP’s holdings in Atea Pharmaceuticals were worth $962,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Arrowstreet Capital Limited Partnership purchased a new position in Atea Pharmaceuticals in the first quarter worth approximately $1,133,000. BlackRock Inc. acquired a new stake in Atea Pharmaceuticals during the second quarter worth $40,548,000. Hsbc Holdings PLC purchased a new stake in Atea Pharmaceuticals in the second quarter valued at $1,023,000. Irenic Capital Management LP purchased a new stake in Atea Pharmaceuticals in the first quarter valued at $1,623,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Atea Pharmaceuticals in the 2nd quarter valued at $881,000. Institutional investors and hedge funds own 86.67% of the company’s stock.

Atea Pharmaceuticals Stock Performance

Atea Pharmaceuticals stock opened at $5.31 on Friday. Atea Pharmaceuticals, Inc. has a fifty-two week low of $2.78 and a fifty-two week high of $6.45. The firm has a 50 day moving average price of $5.10 and a 200 day moving average price of $5.09. The company has a market capitalization of $425.89 million, a PE ratio of -2.55 and a beta of 0.28.

Atea Pharmaceuticals (NASDAQ:AVIR) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.15. As a group, equities research analysts forecast that Atea Pharmaceuticals, Inc. will post -1.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AVIR has been the subject of a number of research analyst reports. Wall Street Zen upgraded Atea Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday. Weiss Ratings restated a “sell (d-)” rating on shares of Atea Pharmaceuticals in a report on Friday, July 17th. Finally, Morgan Stanley upped their target price on shares of Atea Pharmaceuticals from $6.00 to $7.00 and gave the company an “equal weight” rating in a research report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $7.00.

About Atea Pharmaceuticals

Atea Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of oral antiviral therapeutics targeting RNA viruses. The company’s lead program, AT-527, is a direct-acting nucleotide prodrug licensed from Roche and is being evaluated as a potential treatment for coronavirus disease 2019 (COVID-19). In addition to its COVID-19 efforts, Atea’s pipeline includes other small-molecule candidates for hepatitis C virus and emerging RNA pathogens, leveraging its proprietary nucleotide chemistry platform to address significant unmet medical needs in infectious diseases.

Founded in 2014 and headquartered in Cambridge, Massachusetts, Atea operates research laboratories in the Greater Boston area and conducts clinical studies across North America, Europe and parts of Asia.