Shares of Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) dropped 5% during trading on Friday . The stock traded as low as $23.70 and last traded at $23.82. Approximately 14,609 shares changed hands during mid-day trading, a decline of 98% from the average daily volume of 592,756 shares. The stock had previously closed at $25.08.
AVIR has been the subject of several research reports. Zacks Investment Research downgraded shares of Atea Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday. Morgan Stanley reduced their price target on shares of Atea Pharmaceuticals from $82.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, June 3rd. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Atea Pharmaceuticals has a consensus rating of “Buy” and an average target price of $56.25.
The stock has a market capitalization of $2.00 billion and a P/E ratio of -46.53. The stock’s 50 day simple moving average is $31.66.
About Atea Pharmaceuticals (NASDAQ:AVIR)
Atea Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focused on discovering, developing, and commercializing antiviral therapeutics for patients suffering from viral infections. Its lead product candidate is AT-527, a novel antiviral agent that is in Phase II clinical trial for the treatment of patients with COVID-19.
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