Insider Selling: Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) Director Sells 359,606 Shares of Stock

Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) Director Franklin M. Berger sold 359,606 shares of Atea Pharmaceuticals stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $2.85, for a total transaction of $1,024,877.10. Following the sale, the director now directly owns 451,897 shares of the company’s stock, valued at $1,287,906.45. This represents a 44.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Atea Pharmaceuticals Stock Down 0.3 %

Shares of NASDAQ AVIR opened at $2.95 on Friday. Atea Pharmaceuticals, Inc. has a twelve month low of $2.75 and a twelve month high of $4.60. The stock has a market cap of $249.17 million, a price-to-earnings ratio of -1.43 and a beta of 0.20. The company’s fifty day moving average is $3.35 and its 200-day moving average is $3.52.

Atea Pharmaceuticals (NASDAQ:AVIR) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.13. During the same period in the prior year, the firm posted ($0.40) EPS. On average, research analysts anticipate that Atea Pharmaceuticals, Inc. will post -2.01 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, William Blair raised Atea Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BML Capital Management LLC boosted its stake in Atea Pharmaceuticals by 4.3% in the 3rd quarter. BML Capital Management LLC now owns 6,650,000 shares of the company’s stock worth $22,278,000 after purchasing an additional 274,379 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Atea Pharmaceuticals by 55.2% in the 2nd 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. Marshall Wace LLP bought a new stake in shares of Atea Pharmaceuticals in the second quarter valued at about $603,000. Almitas Capital LLC acquired a new position in shares of Atea Pharmaceuticals during the second quarter worth about $4,271,000. Finally, FMR LLC boosted its position in shares of Atea Pharmaceuticals by 2.8% during the third quarter. FMR LLC now owns 6,618,297 shares of the company’s stock worth $22,171,000 after buying an additional 182,174 shares during the period. Institutional investors and hedge funds own 86.67% of the company’s stock.

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.