Renaissance Technologies LLC Buys 18,100 Shares of Atea Pharmaceuticals, Inc. (NASDAQ:AVIR)

Renaissance Technologies LLC grew its stake in shares of Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) by 1.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,141,500 shares of the company’s stock after buying an additional 18,100 shares during the quarter. Renaissance Technologies LLC’s holdings in Atea Pharmaceuticals were worth $3,778,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. raised its stake in Atea Pharmaceuticals by 67.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 16,179 shares of the company’s stock worth $65,000 after buying an additional 6,526 shares during the period. Sunpointe LLC acquired a new position in shares of Atea Pharmaceuticals during the fourth quarter worth approximately $36,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Atea Pharmaceuticals by 21.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 67,137 shares of the company’s stock worth $272,000 after purchasing an additional 11,968 shares in the last quarter. American Century Companies Inc. grew its position in Atea Pharmaceuticals by 14.6% in the 2nd quarter. American Century Companies Inc. now owns 125,169 shares of the company’s stock valued at $414,000 after purchasing an additional 15,911 shares during the period. Finally, Tidal Investments LLC acquired a new stake in Atea Pharmaceuticals in the 1st quarter valued at $87,000. Institutional investors own 86.67% of the company’s stock.

Insider Activity at Atea Pharmaceuticals

In other Atea Pharmaceuticals news, CEO Jean-Pierre Sommadossi sold 33,941 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 5,890,053 shares of the company’s stock, valued at approximately $23,854,714.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 17.80% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Morgan Stanley raised shares of Atea Pharmaceuticals from an “underweight” rating to an “equal weight” rating and raised their price objective for the company 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 report on Friday, August 30th.

Atea Pharmaceuticals Price Performance

Shares of NASDAQ:AVIR opened at $3.44 on Friday. The business’s 50 day moving average is $3.69 and its 200 day moving average is $3.70. Atea Pharmaceuticals, Inc. has a 12-month low of $2.77 and a 12-month high of $4.60. The stock has a market cap of $289.73 million, a price-to-earnings ratio of -1.76 and a beta of 0.18.

Atea Pharmaceuticals (NASDAQ:AVIR) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.28. During the same quarter in the previous year, the company earned ($0.34) EPS. As a group, equities research analysts expect that Atea Pharmaceuticals, Inc. will post -2.21 earnings per share for the current year.

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.