Atea Pharmaceuticals (AVIR) Stock Slumps 30% in a Week: Should You Buy?

Atea Pharmaceuticals Inc (NASDAQ:AVIR) stock continue to slump on Wednesday, extending its monthly downtrend. At the time of writing, AVIR stock is down over 19.80% and trading at a session low of $26.94.

What is more interesting is that the stock has been in a downtrend without any news. The stock has fallen over 30% in the past week and 65% since March 20th.

AVIR lock-up period is set to end today. The company had issued 12.50 million shares in its IPO on October 30th. The total size of the offering was $300 million based on an initial share price of $24.00.

After the end of Atea Pharmaceuticals’ lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

AVIR stock is now 12% from its 52-week low of $24.15. There is no doubt that the stock has been in a serious downtrend, but RSI near 16 signals an oversold in short term.

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So keep an eye on AVIR stock if we can see any quick bounce.

 

Uson Abdilazhanov

Editor and Computer ExpertA hardcore tech enthusiast and computer expert Uson Abdilazhanov who holds a degree in communications started writing in his personal blogs since 2012. That time he was interested in the technical part of the computer. But now the software aspect plays an important role in his career. Currently, he runs a PC building and repairing shop which helps a lot of designers and gamers who always like to try new things.


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