Atea Pharmaceuticals (NASDAQ:AVIR – Get Rating) had its price target lowered by equities research analysts at JPMorgan Chase & Co. from $12.00 to $8.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 112.20% from the company’s current price.
Other equities analysts also recently issued research reports about the stock. SVB Leerink cut their price target on shares of Atea Pharmaceuticals from $8.00 to $6.00 and set a “market perform” rating for the company in a report on Friday, January 27th. Morgan Stanley cut their price target on shares of Atea Pharmaceuticals from $7.00 to $4.00 and set an “underweight” rating for the company in a report on Tuesday, January 24th.
Atea Pharmaceuticals Stock Performance
Shares of Atea Pharmaceuticals stock opened at $3.77 on Thursday. The company has a market cap of $314.19 million, a P/E ratio of -2.69 and a beta of 0.25. Atea Pharmaceuticals has a one year low of $3.15 and a one year high of $9.79. The firm has a fifty day moving average of $4.19 and a two-hundred day moving average of $5.03.
Hedge Funds Weigh In On Atea Pharmaceuticals
Large investors have recently made changes to their positions in the stock. Advisor Group Holdings Inc. increased its holdings in Atea Pharmaceuticals by 78.8% during the 1st quarter. Advisor Group Holdings Inc. now owns 4,070 shares of the company’s stock valued at $28,000 after acquiring an additional 1,794 shares in the last quarter. Denali Advisors LLC purchased a new position in Atea Pharmaceuticals during the 3rd quarter valued at about $25,000. Royal Bank of Canada increased its holdings in Atea Pharmaceuticals by 123.6% during the 3rd quarter. Royal Bank of Canada now owns 4,536 shares of the company’s stock valued at $26,000 after acquiring an additional 2,507 shares in the last quarter. Gladius Capital Management LP increased its holdings in Atea Pharmaceuticals by 63.2% during the 4th quarter. Gladius Capital Management LP now owns 7,913 shares of the company’s stock valued at $39,000 after acquiring an additional 3,064 shares in the last quarter. Finally, Ronald Blue Trust Inc. purchased a new position in Atea Pharmaceuticals during the 2nd quarter valued at about $63,000. Hedge funds and other institutional investors own 68.92% of the company’s stock.
About Atea Pharmaceuticals
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, an antiviral drug candidate that is in Phase II clinical trial for the treatment of patients with COVID-19.
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