Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) Director Sells $1,024,877.10 in Stock

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

Atea Pharmaceuticals Stock Performance

NASDAQ:AVIR opened at $2.93 on Friday. The stock has a market cap of $247.48 million, a price-to-earnings ratio of -1.42 and a beta of 0.20. Atea Pharmaceuticals, Inc. has a one year low of $2.75 and a one year high of $4.60. The business’s 50-day simple moving average is $3.34 and its 200 day simple moving average is $3.52.

Atea Pharmaceuticals (NASDAQ:AVIR) last announced its earnings results on Thursday, November 7th. The company reported ($0.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.13. During the same period last year, the business earned ($0.40) earnings per share. On average, equities research analysts predict that Atea Pharmaceuticals, Inc. will post -2.01 EPS for the current year.

Institutional Trading of Atea Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. Intech Investment Management LLC acquired a new position in Atea Pharmaceuticals during the 3rd quarter worth $36,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Atea Pharmaceuticals during the third quarter worth about $37,000. China Universal Asset Management Co. Ltd. grew its stake in Atea Pharmaceuticals by 64.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 16,237 shares of the company’s stock worth $54,000 after purchasing an additional 6,343 shares in the last quarter. Zacks Investment Management bought a new stake in Atea Pharmaceuticals in the third quarter valued at about $80,000. Finally, Virtu Financial LLC acquired a new stake in Atea Pharmaceuticals during the third quarter valued at approximately $99,000. 86.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, William Blair upgraded shares of Atea Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th.

About Atea Pharmaceuticals

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.