Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) Forecasted to Earn Q3 2024 Earnings of ($0.43) Per Share

Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) – Analysts at William Blair upped their Q3 2024 earnings per share (EPS) estimates for shares of Atea Pharmaceuticals in a research report issued to clients and investors on Monday, September 16th. William Blair analyst A. Hsieh now expects that the company will post earnings per share of ($0.43) for the quarter, up from their previous forecast of ($0.45). William Blair currently 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.

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

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

Atea Pharmaceuticals Stock Performance

Shares of NASDAQ:AVIR opened at $4.02 on Wednesday. The firm has a market cap of $338.58 million, a PE ratio of -2.05 and a beta of 0.18. Atea Pharmaceuticals has a 52 week low of $2.77 and a 52 week high of $4.60. The firm’s fifty day moving average is $3.68 and its 200-day moving average is $3.72.

Insider Buying and Selling at Atea Pharmaceuticals

In other news, Director Bruce Polsky sold 17,544 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $3.49, for a total value of $61,228.56. Following the transaction, the director now owns 65,606 shares in the company, valued at approximately $228,964.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 17.80% of the company’s stock.

Hedge Funds Weigh In On Atea Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the company. BML Capital Management LLC boosted its position in Atea Pharmaceuticals by 1.4% during the first quarter. BML Capital Management LLC now owns 5,536,710 shares of the company’s stock valued at $22,368,000 after acquiring an additional 74,631 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Atea Pharmaceuticals by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 4,722,522 shares of the company’s stock valued at $19,079,000 after purchasing an additional 122,812 shares in the last quarter. Almitas Capital LLC acquired a new stake in Atea Pharmaceuticals during the second quarter worth approximately $4,271,000. Renaissance Technologies LLC increased its holdings in Atea Pharmaceuticals by 1.6% in the second quarter. Renaissance Technologies LLC now owns 1,141,500 shares of the company’s stock worth $3,778,000 after purchasing an additional 18,100 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in Atea Pharmaceuticals by 22.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 672,984 shares of the company’s stock valued at $2,719,000 after buying an additional 122,447 shares during the period. Institutional investors own 86.67% of the company’s stock.

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.