Atea Pharmaceuticals (AVIR) Loses -8.01% in 4 Weeks, Here's Why a Trend Reversal May be Around the Corner

Core Viewpoint - Atea Pharmaceuticals, Inc. (AVIR) is experiencing significant selling pressure but is positioned for a potential trend reversal due to being in oversold territory and positive earnings outlook from analysts [1]. Group 1: Stock Performance - AVIR's stock has declined by 8% over the past four weeks, indicating a downward trend [1]. - The Relative Strength Index (RSI) for AVIR is currently at 29.61, suggesting that the stock is oversold and may be due for a rebound [4]. Group 2: Analyst Sentiment - There is strong consensus among Wall Street analysts that AVIR will report better earnings than previously predicted, with a 13% increase in the consensus EPS estimate over the last 30 days [4]. - AVIR holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, indicating a potential turnaround [5].