Atea Pharmaceuticals Inc. [AVIR] moved down -2.68: Why It’s Important

Atea Pharmaceuticals Inc. [NASDAQ: AVIR] closed the trading session at $22.85 on 06/17/21. The day’s price range saw the stock hit a low of $21.78, while the highest price level was $26.68. The company report on June 16, 2021 that Atea Pharmaceuticals Announces Achievement of AT-527 Development Milestone Under License Agreement with Roche.

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Milestone in the amount of $50 million realized.

Atea Pharmaceuticals, Inc. (Nasdaq: AVIR) (“Atea”), a clinical-stage biopharmaceutical company engaged in the discovery and development of oral therapeutics for severe viral infections, announced that it has achieved a milestone associated with the development of AT-527 and expects to receive a related payment under its license agreement with Roche of $50 million (SIX: RO, ROG; OTCQX: RHHBY). Under the license agreement, Roche and Atea are jointly developing AT-527 for the treatment of COVID-19. Atea retains rights to commercialize AT-527 in the United States and Roche has the exclusive right to commercialize AT-527 outside of the United States. AT-527 is an orally administered, direct-acting antiviral developmental agent derived from Atea’s purine nucleotide prodrug platform and is in Phase 3 development for the treatment of COVID-19.

The stocks have a year to date performance of -45.31 percent and weekly performance of -8.89 percent. The stock has been moved at -25.59 percent over the last six months. The stock has performed -2.48 percent around the most recent 30 days and changed -69.68 percent over the most recent 3-months.

If compared to the average trading volume of 875.00K shares, AVIR reached to a volume of 3398377 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Atea Pharmaceuticals Inc. [AVIR]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AVIR shares is $35.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AVIR stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Evercore ISI have made an estimate for Atea Pharmaceuticals Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on November 25, 2020. While these analysts kept the previous recommendation, William Blair raised their target price to Outperform. The new note on the price target was released on November 24, 2020, representing the official price target for Atea Pharmaceuticals Inc. stock. Previously, the target price had yet another raise to $49, while Morgan Stanley analysts kept a Overweight rating on AVIR stock.

The Average True Range (ATR) for Atea Pharmaceuticals Inc. is set at 1.94, with the Price to Sales ratio for AVIR stock in the period of the last 12 months amounting to 17.41. The Price to Book ratio for the last quarter was 3.22, with the Price to Cash per share for the same quarter was set at 9.55.

AVIR stock trade performance evaluation

Atea Pharmaceuticals Inc. [AVIR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.89. With this latest performance, AVIR shares dropped by -2.48% in over the last four-week period, additionally sinking by -25.59% over the last 6 months .

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AVIR stock in for the last two-week period is set at 42.33, with the RSI for the last a single of trading hit 46.97, and the three-weeks RSI is set at 38.51 for Atea Pharmaceuticals Inc. [AVIR]. The present Moving Average for the last 50 days of trading for this stock 28.94, while it was recorded at 23.50 for the last single week of trading.

Atea Pharmaceuticals Inc. [AVIR]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Atea Pharmaceuticals Inc. [AVIR] shares currently have an operating margin of -22.68. Atea Pharmaceuticals Inc.’s Net Margin is presently recorded at -22.51.

Return on Total Capital for AVIR is now -3.89, given the latest momentum, and Return on Invested Capital for the company is -3.86. Return on Equity for this stock declined to -3.86, with Return on Assets sitting at -2.47.

Reflecting on the efficiency of the workforce at the company, Atea Pharmaceuticals Inc. [AVIR] managed to generate an average of -$280,692 per employee. Receivables Turnover for the company is 16.73 with a Total Asset Turnover recorded at a value of 0.11.Atea Pharmaceuticals Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.30 and a Current Ratio set at 3.30.

Atea Pharmaceuticals Inc. [AVIR]: Insider Ownership positions

There are presently around $1,191 million, or 63.20% of AVIR stock, in the hands of institutional investors. The top three institutional holders of AVIR stocks are: FMR LLC with ownership of 10,758,795, which is approximately 66.863% of the company’s market cap and around 18.48% of the total institutional ownership; CORMORANT ASSET MANAGEMENT, LP, holding 6,411,355 shares of the stock with an approximate value of $146.5 million in AVIR stocks shares; and BAIN CAPITAL LIFE SCIENCES INVESTORS, LLC, currently with $128.32 million in AVIR stock with ownership of nearly 0% of the company’s market capitalization.

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Positions in Atea Pharmaceuticals Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 42 institutional holders increased their position in Atea Pharmaceuticals Inc. [NASDAQ:AVIR] by around 4,882,164 shares. Additionally, 29 investors decreased positions by around 2,659,996 shares, while 14 investors held positions by with 44,560,779 shares. The mentioned changes placed institutional holdings at 52,102,939 shares, according to the latest SEC report filing. AVIR stock had 18 new institutional investments in for a total of 364,451 shares, while 5 institutional investors sold positions of 319,418 shares during the same period.

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