SVB Leerink cuts Atea Pharmaceuticals (NASDAQ:AVIR) price target to $10.00


Atea Pharmaceuticals (NASDAQ:AVIR) had its price target reduced by stock analysts SVB Leerink from $11.00 to $10.00 in a report on Wednesday, Stock Target Advisor reports. The company currently has a “market performance” rating on the stock. SVB Leerink’s target price would suggest a potential upside of 55.76% from the company’s current price.

Several other brokerages also weighed in on AVIR. Zacks Investment Research downgraded Atea Pharmaceuticals from a “hold” rating to a “sell” rating in a report released Tuesday. JPMorgan Chase & Co. downgraded Atea Pharmaceuticals from an “overweight” rating to a “neutral” rating and cut its price target for the company from $61.00 to $16.00 in a Tuesday, October 19 report. Finally, Morgan Stanley downgraded Atea Pharmaceuticals from an “equal weight” rating to an “underweight” rating and reduced its target price for the company from $14.00 to $7.00 in a Thursday, Jan. 6, report. .

Shares of Atea Pharmaceuticals opened Wednesday at $6.42. The company has a fifty-day simple moving average of $7.69 and a 200-day simple moving average of $18.01. Atea Pharmaceuticals has a fifty-two week low of $6.02 and a fifty-two week high of $88.77.

Separately, director Polly A. Murphy purchased 12,000 shares of Atea Pharmaceuticals in a trade dated Monday, December 20. The shares were acquired at an average cost of $8.57 per share, with a total value of $102,840.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. Company insiders own 18.40% of the company’s shares.

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A number of large investors have recently bought and sold shares of AVIR. Vanguard Group Inc. increased its position in Atea Pharmaceuticals by 309.8% during the second quarter. Vanguard Group Inc. now owns 4,536,163 shares of the company valued at $97,437,000 after purchasing an additional 3,429,258 shares during the period. Viking Global Investors LP acquired a new position in Atea Pharmaceuticals during the third quarter worth $58,027,000. Schroder Investment Management Group increased its position in Atea Pharmaceuticals by 9,984.5% during the fourth quarter. Schroder Investment Management Group now owns 1,541,106 shares of the company valued at $13,777,000 after purchasing an additional 1,525,824 shares during the period. State Street Corp increased its position in Atea Pharmaceuticals by 110.9% during the fourth quarter. State Street Corp now owns 2,325,453 shares of the company valued at $20,790,000 after purchasing an additional 1,222,601 shares during the period. Finally, Morgan Stanley increased its position in Atea Pharmaceuticals by 1,253.5% during the second quarter. Morgan Stanley now owns 789,348 shares of the company valued at $16,954,000 after purchasing an additional 731,027 shares during the period. 78.56% of the shares are currently held by hedge funds and other institutional investors.

Atea Pharmaceuticals Company Profile

Atea Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company, is focused on the discovery, development and commercialization of antiviral therapies for patients suffering from viral infections. Its lead product candidate is AT-527, a novel antiviral agent that is in Phase II clinical trials for the treatment of patients with COVID-19.

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