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