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

Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) – Investment analysts at William Blair boosted their Q3 2024 earnings per share (EPS) estimates for Atea Pharmaceuticals in a note issued to investors on Monday, September 16th. William Blair analyst A. Hsieh now forecasts that the company will earn ($0.43) per share 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 issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.48) earnings per share for the quarter, beating the consensus estimate of ($0.76) by $0.28. During the same period in the prior year, the firm 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 company from $2.00 to $6.88 in a research report on Tuesday, August 13th.

Atea Pharmaceuticals Stock Performance

Shares of AVIR stock opened at $4.02 on Wednesday. Atea Pharmaceuticals has a 52-week low of $2.77 and a 52-week high of $4.60. The company has a 50-day simple moving average of $3.68 and a two-hundred day simple moving average of $3.72. The company has a market capitalization of $338.58 million, a price-to-earnings ratio of -2.05 and a beta of 0.18.

Institutional Investors Weigh In On Atea Pharmaceuticals

Several large investors have recently added to or reduced their stakes in AVIR. Sunpointe LLC bought a new stake in shares of Atea Pharmaceuticals in the fourth quarter valued at approximately $36,000. RPO LLC bought a new stake in Atea Pharmaceuticals during the 4th quarter valued at $39,000. China Universal Asset Management Co. Ltd. lifted its position in shares of Atea Pharmaceuticals by 67.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 16,179 shares of the company’s stock worth $65,000 after acquiring an additional 6,526 shares in the last quarter. Tidal Investments LLC bought a new position in shares of Atea Pharmaceuticals in the first quarter worth $87,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Atea Pharmaceuticals in the first quarter valued at $123,000. Hedge funds and other institutional investors own 86.67% of the company’s stock.

Insider Transactions at Atea Pharmaceuticals

In related news, Director Bruce Polsky sold 17,544 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was 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 $228,964.94. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 17.80% of the stock is currently owned by company insiders.

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.