Atea Pharmaceuticals, Inc. to Post Q3 2024 Earnings of ($0.43) Per Share, William Blair Forecasts (NASDAQ:AVIR)

Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) – Research analysts at William Blair boosted their Q3 2024 EPS estimates for Atea Pharmaceuticals in a research report issued on Monday, September 16th. William Blair analyst A. Hsieh now expects that the company will earn ($0.43) per share for the quarter, up from their previous estimate of ($0.45). William Blair has a “Strong-Buy” rating on the stock. The consensus estimate for Atea Pharmaceuticals’ current full-year earnings is ($2.55) per share. William Blair also issued estimates for Atea Pharmaceuticals’ Q4 2024 earnings at ($0.45) EPS, FY2024 earnings at ($2.11) EPS, Q1 2025 earnings at ($0.48) EPS, Q2 2025 earnings at ($0.48) EPS, Q3 2025 earnings at ($0.49) EPS, Q4 2025 earnings at ($0.48) EPS and FY2025 earnings at ($1.92) EPS.

Separately, Morgan Stanley upgraded shares of Atea Pharmaceuticals from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $2.00 to $6.88 in a research report on Tuesday, August 13th.

Atea Pharmaceuticals Trading Down 4.3 %

Shares of AVIR stock opened at $3.82 on Wednesday. Atea Pharmaceuticals has a 1 year low of $2.77 and a 1 year high of $4.60. The firm’s 50 day moving average is $3.70 and its 200-day moving average is $3.73. The firm has a market capitalization of $321.73 million, a price-to-earnings ratio of -1.95 and a beta of 0.18.

Atea Pharmaceuticals (NASDAQ:AVIR) last announced its earnings results on Wednesday, August 7th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.28. During the same quarter last year, the business earned ($0.34) EPS.

Insider Activity at Atea Pharmaceuticals

In related news, CEO Jean-Pierre Sommadossi sold 33,941 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $4.05, for a total value of $137,461.05. Following the transaction, the chief executive officer now directly owns 5,890,053 shares in the company, valued at $23,854,714.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 17.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Atea Pharmaceuticals

Large investors have recently bought and sold shares of the business. Sunpointe LLC acquired a new position in Atea Pharmaceuticals in the fourth quarter valued at approximately $36,000. RPO LLC acquired a new position in Atea Pharmaceuticals in the fourth quarter valued at approximately $39,000. China Universal Asset Management Co. Ltd. lifted its holdings in Atea Pharmaceuticals by 67.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 16,179 shares of the company’s stock valued at $65,000 after buying an additional 6,526 shares during the period. Tidal Investments LLC acquired a new position in Atea Pharmaceuticals in the first quarter valued at approximately $87,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in Atea Pharmaceuticals by 14.2% in the second quarter. The Manufacturers Life Insurance Company now owns 34,886 shares of the company’s stock valued at $115,000 after buying an additional 4,339 shares during the period. 86.67% of the stock is currently owned by institutional investors and hedge funds.

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.