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JP Morgan downgrades Atea Pharmaceuticals Inc (AVIR) rating to an Underweight

Atea Pharmaceuticals Inc’s recent filing unveils that its Director Polsky Bruce unloaded Company’s shares for reported $61144.0 on Jun 20 ’24. In the deal valued at $3.49 per share,17,544 shares were sold. As a result of this transaction, Polsky Bruce now holds 65,606 shares worth roughly $0.21 million.

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Then, Sommadossi Jean-Pierre sold 1,006 shares, generating $4,024 in total proceeds. Upon selling the shares at $4.00, the President, CEO, and Chairman now owns 5,923,994 shares.

Before that, Sommadossi Jean-Pierre sold 56,910 shares. Atea Pharmaceuticals Inc shares valued at $218,819 were divested by the President, CEO, and Chairman at a price of $3.85 per share. As a result of the transaction, Sommadossi Jean-Pierre now holds 116,557 shares, worth roughly $0.38 million.

JP Morgan downgraded its Atea Pharmaceuticals Inc [AVIR] rating to an Underweight from a a Neutral in a research note published recently. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who decreased its forecast for the stock in early January from “an Equal-weight” to “an Underweight”. SVB Leerink also remained covering AVIR and has decreased its forecast on November 18, 2021 with a “Mkt perform” recommendation from previously “an Outperform” rating. JP Morgan revised its rating on October 20, 2021. It rated AVIR as “a Neutral” which previously was an “an Overweight”.

Price Performance Review of AVIR

On Tuesday, Atea Pharmaceuticals Inc [NASDAQ:AVIR] saw its stock fall -4.15% to $3.23. Over the last five days, the stock has lost -5.83%. Atea Pharmaceuticals Inc shares have risen nearly 5.90% since the year began. Nevertheless, the stocks have fallen -13.64% over the past one year. While a 52-week high of $4.60 was reached on 02/29/24, a 52-week low of $2.77 was recorded on 01/05/24. SMA at 50 days reached $3.69, while 200 days put it at $3.53. A total of 0.23 million shares were traded, compared to the trading of 0.69 million shares in the previous session.

Levels Of Support And Resistance For AVIR Stock

The 24-hour chart illustrates a support level at 3.18, which if violated will result in even more drops to 3.12. On the upside, there is a resistance level at 3.33. A further resistance level may holdings at 3.42. The Relative Strength Index (RSI) on the 14-day chart is 34.32, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.16, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 96.73%. Stochastics%K at 11.27% indicates the stock is a buying.

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