Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) CEO Sells $137,461.05 in Stock

Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) CEO Jean-Pierre Sommadossi sold 33,941 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $4.05, for a total value of $137,461.05. Following the completion of the sale, the chief executive officer now owns 5,890,053 shares of the company’s stock, valued at $23,854,714.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Jean-Pierre Sommadossi also recently made the following trade(s):

• On Thursday, September 19th, Jean-Pierre Sommadossi sold 1,841 shares of Atea Pharmaceuticals stock. The stock was sold at an average price of $4.00, for a total value of $7,364.00.

Atea Pharmaceuticals Price Performance

Shares of NASDAQ AVIR opened at $3.67 on Friday. Atea Pharmaceuticals, Inc. has a 1 year low of $2.77 and a 1 year high of $4.60. The company has a market capitalization of $309.10 million, a P/E ratio of -1.87 and a beta of 0.18. The company has a 50 day simple moving average of $3.71 and a 200-day simple moving average of $3.72.

Atea Pharmaceuticals (NASDAQ:AVIR) last posted its earnings results on Wednesday, August 7th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.28. During the same period last year, the firm posted ($0.34) EPS. As a group, research analysts expect that Atea Pharmaceuticals, Inc. will post -2.55 EPS for the current year.

Institutional Trading of Atea Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the business. Almitas Capital LLC purchased a new position in Atea Pharmaceuticals during the second quarter worth about $4,271,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Atea Pharmaceuticals by 14.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 34,886 shares of the company’s stock worth $115,000 after acquiring an additional 4,339 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Atea Pharmaceuticals during the 2nd quarter worth approximately $603,000. Renaissance Technologies LLC increased its holdings in Atea Pharmaceuticals by 1.6% in the 2nd quarter. Renaissance Technologies LLC now owns 1,141,500 shares of the company’s stock valued at $3,778,000 after purchasing an additional 18,100 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Atea Pharmaceuticals by 55.2% in the second quarter. Dimensional Fund Advisors LP now owns 594,360 shares of the company’s stock valued at $1,968,000 after purchasing an additional 211,428 shares during the period. 86.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on AVIR shares. William Blair raised Atea Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th. Morgan Stanley upgraded shares of Atea Pharmaceuticals from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $2.00 to $6.88 in a research report on Tuesday, August 13th.

Atea Pharmaceuticals Company Profile

Atea Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, discovers, develops, and commercializes antiviral therapeutics for patients with viral infections. Its lead product candidate is AT-527, an oral antiviral candidate that is in Phase 3 SUNRISE-3 clinical trial for the treatment of patients with COVID-19.