Atea Pharmaceuticals (NASDAQ:AVIR) Trading Down 1.9% - Should You Sell?

Atea Pharmaceuticals, Inc. (NASDAQ:AVIR - Get Free Report)'s stock price was down 1.9% during trading on Tuesday . The company traded as low as $3.11 and last traded at $3.14. Approximately 325,694 shares changed hands during mid-day trading, a decline of 19% from the average daily volume of 400,771 shares. The stock had previously closed at $3.20.Get Atea Pharmaceuticals alerts:Wall Street Analysts Forecast GrowthSeveral equities analysts recently commented on AVIR shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Atea Pharmaceuticals in a research note on Wednesday, October 8th. Evercore ISI upgraded Atea Pharmaceuticals to a "strong-buy" rating in a report on Friday, November 28th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $6.00.View Our Latest Report on Atea PharmaceuticalsAtea Pharmaceuticals Stock Down 1.9%The company has a 50 day simple moving average of $3.13 and a 200 day simple moving average of $3.28. The company has a market capitalization of $245.33 million, a price-to-earnings ratio of -1.77 and a beta of 0.16. Atea Pharmaceuticals (NASDAQ:AVIR - Get Free Report) last issued its earnings results on Wednesday, November 12th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.46) by ($0.07). On average, research analysts forecast that Atea Pharmaceuticals, Inc. will post -2.01 EPS for the current fiscal year. Hedge Funds Weigh In On Atea PharmaceuticalsSeveral hedge funds and other institutional investors have recently made changes to their positions in AVIR. Prudential Financial Inc. purchased a new position in Atea Pharmaceuticals in the second quarter valued at about $36,000. Johnson Investment Counsel Inc. acquired a new stake in shares of Atea Pharmaceuticals in the second quarter valued at about $55,000. BNP Paribas Financial Markets raised its holdings in shares of Atea Pharmaceuticals by 57.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 19,913 shares of the company's stock valued at $58,000 after buying an additional 7,286 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Atea Pharmaceuticals during the 3rd quarter valued at about $59,000. Finally, Certified Advisory Corp acquired a new position in Atea Pharmaceuticals during the 3rd quarter worth approximately $71,000. Institutional investors and hedge funds own 86.67% of the company's stock. Atea Pharmaceuticals Company Profile (Get Free Report)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.Recommended StoriesFive stocks we like better than Atea PharmaceuticalsInsider Trades May Not Tell You What You ThinkConsumers Got Coal, But Santa Dropped Off Big Gains for These 2 RetailersWhat is a Low P/E Ratio and What Does it Tell Investors?10X Gains? These 3 Robotics Stocks Could Explode by 2035Best Energy Stocks - Energy Stocks to Buy NowAnheuser-Busch Buys BeatBox to Win Over Younger DrinkersThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Atea Pharmaceuticals Right Now?Before you consider Atea Pharmaceuticals, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Atea Pharmaceuticals wasn't on the list.While Atea Pharmaceuticals currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here