Insider Selling: Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) CEO Sells 33,941 Shares of Stock

Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) CEO Jean-Pierre Sommadossi sold 33,941 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $4.05, for a total transaction of $137,461.05. Following the completion of the sale, the chief executive officer now owns 5,890,053 shares in the company, valued at $23,854,714.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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 transaction of $7,364.00.

Atea Pharmaceuticals Trading Down 3.9 %

Shares of NASDAQ:AVIR opened at $3.67 on Friday. The company has a market capitalization of $309.10 million, a price-to-earnings ratio of -1.87 and a beta of 0.18. Atea Pharmaceuticals, Inc. has a 12 month low of $2.77 and a 12 month high of $4.60. The firm’s 50-day moving average is $3.71 and its 200 day moving average is $3.72.

Atea Pharmaceuticals (NASDAQ:AVIR) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.48) EPS for the quarter, beating the consensus estimate of ($0.76) by $0.28. During the same quarter in the prior year, the company earned ($0.34) EPS. As a group, equities analysts forecast that Atea Pharmaceuticals, Inc. will post -2.55 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Atea Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in AVIR. Almitas Capital LLC bought a new position in Atea Pharmaceuticals during the 2nd quarter valued at about $4,271,000. Dimensional Fund Advisors LP grew its stake in Atea Pharmaceuticals by 55.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 594,360 shares of the company’s stock worth $1,968,000 after acquiring an additional 211,428 shares in the last quarter. Marshall Wace LLP bought a new position in Atea Pharmaceuticals in the 2nd quarter worth about $603,000. Vanguard Group Inc. grew its stake in Atea Pharmaceuticals by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 4,722,522 shares of the company’s stock worth $19,079,000 after acquiring an additional 122,812 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in Atea Pharmaceuticals by 22.2% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 672,984 shares of the company’s stock worth $2,719,000 after acquiring an additional 122,447 shares in the last quarter. 86.67% of the stock is currently owned by institutional investors.

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.