Atea Pharmaceuticals Inc. (NASDAQ: AVIR) stock fell -4.21% on Tuesday to $4.55 against a previous-day closing price of $4.75. With 0.62 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.46 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $4.6600 whereas the lowest price it dropped to was $4.5450. The 52-week range on AVIR shows that it touched its highest point at $9.79 and its lowest point at $4.18 during that stretch. It currently has a 1-year price target of $9.00.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of AVIR was down-trending over the past week, with a drop of -7.52%, but this was down by -0.66% over a month. Three-month performance dropped to -14.47% while six-month performance fell -44.44%. The stock lost -29.35% in the past year, while it has lost -5.41% so far this year. A look at the trailing 12-month EPS for AVIR yields 0.36 with Next year EPS estimates of -2.67. For the next quarter, that number is -0.45. This implies an EPS growth rate of -204.40% for this year and -86.70% for next year.
Float and Shares Shorts:
At present, 83.26 million AVIR shares are outstanding with a float of 75.70 million shares on hand for trading. On Oct 13, 2022, short shares totaled 2.3 million, which was 2.76% higher than short shares on Sep 14, 2022. In addition to Dr. Jean-Pierre Sommadossi Ph.D. as the firm’s Founder, Chairman, CEO & Pres, Ms. Andrea J. Corcoran J.D. serves as its CFO, Exec. VP of Legal & Sec.
Through their ownership of 70.28% of AVIR’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 33.53% of AVIR, in contrast to 32.23% held by mutual funds. Shares owned by individuals account for 23.65%. As the largest shareholder in AVIR with 15.00% of the stake, Fidelity Management & Research Co holds 12,488,746 shares worth 12,488,746. A second-largest stockholder of AVIR, The Vanguard Group, Inc., holds 7,465,817 shares, controlling over 8.96% of the firm’s shares. Ecor1 Capital LLC is the third largest shareholder in AVIR, holding 6,184,861 shares or 7.43% stake. With a 3.64% stake in AVIR, the Fidelity Growth Company Fund is the largest stakeholder. A total of 3,032,257 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.71% of AVIR stock, is the second-largest Mutual Fund holder. It holds 2,253,893 shares valued at 10.84 million. Federated Hermes MDT Small Cap Co holds 2.23% of the stake in AVIR, owning 1,857,190 shares worth 8.93 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for AVIR since 4 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 2 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With AVIR analysts setting a high price target of $12.00 and a low target of $4.00, the average target price over the next 12 months is $8.00. Based on these targets, AVIR could surge 163.74% to reach the target high and fall by -12.09% to reach the target low. Reaching the average price target will result in a growth of 75.82% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. AVIR will report FY 2022 earnings on 02/27/2024. Analysts have provided yearly estimates in a range of -$0.94 being high and -$1.49 being low. For AVIR, this leads to a yearly average estimate of -$1.31. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Atea Pharmaceuticals Inc. surprised analysts by $0.31 when it reported -$0.10 EPS against a consensus estimate of -$0.41. The surprise factor in the prior quarter was $0.11. Based on analyst estimates, the high estimate for the next quarter is -$0.38 and the low estimate is -$0.51. The average estimate for the next quarter is thus -$0.44.
Summary of Insider Activity:
Insiders traded AVIR stock several times over the past three months with 0 Buys and 2 Sells. In these transactions, 0 shares were bought while 41,666 shares were sold. The number of buy transactions has remained unchanged to 0 while that of sell transactions has risen to 2 over the past year. The total number of shares bought during that period was 0 while 41,666 shares were sold.