Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its stake in shares of Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) by 3.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 137,598 shares of the company’s stock after selling 4,304 shares during the quarter. Rhumbline Advisers’ holdings in Atea Pharmaceuticals were worth $455,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of 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 during the period. Jacobs Levy Equity Management Inc. boosted its holdings 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 valued at $2,719,000 after purchasing an additional 122,447 shares in the last quarter. Bank of New York Mellon Corp increased its position in Atea Pharmaceuticals by 11.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 266,184 shares of the company’s stock worth $881,000 after purchasing an additional 26,627 shares during the period. Price T Rowe Associates Inc. MD raised its stake 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 worth $272,000 after buying an additional 11,968 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of Atea Pharmaceuticals by 238.8% in the 1st quarter. Public Employees Retirement System of Ohio now owns 61,033 shares of the company’s stock valued at $247,000 after buying an additional 43,021 shares during the period. 86.67% of the stock is currently owned by hedge funds and other institutional investors.

Atea Pharmaceuticals Price Performance

Shares of NASDAQ:AVIR opened at $3.44 on Friday. The firm has a market capitalization of $290.40 million, a price-to-earnings ratio of -1.76 and a beta of 0.18. The business’s 50 day simple moving average is $3.69 and its 200-day simple moving average is $3.71. Atea Pharmaceuticals, Inc. has a 12 month low of $2.77 and a 12 month high of $4.60.

Atea Pharmaceuticals (NASDAQ:AVIR) last posted 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 previous year, the company earned ($0.34) EPS. On average, equities analysts anticipate that Atea Pharmaceuticals, Inc. will post -2.21 earnings per share for the current year.

Insider Activity at Atea Pharmaceuticals

In other Atea Pharmaceuticals news, CEO Jean-Pierre Sommadossi sold 33,941 shares of Atea Pharmaceuticals stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $4.05, for a total transaction of $137,461.05. Following the completion of the transaction, the chief executive officer now owns 5,890,053 shares in the company, valued at $23,854,714.65. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 17.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AVIR. William Blair upgraded Atea Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. Morgan Stanley upgraded shares of Atea Pharmaceuticals from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $2.00 to $6.88 in a report on Tuesday, August 13th.

Atea Pharmaceuticals 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.