Jean-Pierre Sommadossi Sells 33,941 Shares of Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) Stock

Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) CEO Jean-Pierre Sommadossi sold 33,941 shares of the firm’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 transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $4.00, for a total value of $7,364.00.

Atea Pharmaceuticals Trading Down 4.3 %

NASDAQ AVIR traded down $0.17 during mid-day trading on Thursday, hitting $3.82. The company’s stock had a trading volume of 262,343 shares, compared to its average volume of 325,062. The firm has a market capitalization of $321.73 million, a price-to-earnings ratio of -1.95 and a beta of 0.18. Atea Pharmaceuticals, Inc. has a twelve month low of $2.77 and a twelve month high of $4.60. The company’s 50 day simple moving average is $3.70 and its 200 day simple moving average is $3.73.

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

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in AVIR. Sunpointe LLC purchased a new position in shares of Atea Pharmaceuticals in the 4th quarter worth about $36,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Atea Pharmaceuticals during the first quarter valued at about $123,000. RPO LLC bought a new position in shares of Atea Pharmaceuticals in the 4th quarter worth approximately $39,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Atea Pharmaceuticals by 21.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 67,137 shares of the company’s stock valued at $272,000 after buying an additional 11,968 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Atea Pharmaceuticals by 2.7% in the first quarter. Vanguard Group Inc. now owns 4,722,522 shares of the company’s stock worth $19,079,000 after purchasing an additional 122,812 shares during the period. Institutional investors own 86.67% of the company’s stock.

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.