Hsbc Holdings PLC Cuts Stake in Atea Pharmaceuticals, Inc. (NASDAQ:AVIR)

Hsbc Holdings PLC cut its position in Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) by 7.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 158,109 shares of the company’s stock after selling 13,259 shares during the period. Hsbc Holdings PLC’s holdings in Atea Pharmaceuticals were worth $518,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AVIR. China Universal Asset Management Co. Ltd. increased its position in shares of Atea Pharmaceuticals by 67.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 16,179 shares of the company’s stock valued at $65,000 after acquiring an additional 6,526 shares in the last quarter. Sunpointe LLC purchased a new stake in Atea Pharmaceuticals during the 4th quarter valued at $36,000. Price T Rowe Associates Inc. MD increased 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. raised its stake in shares of Atea Pharmaceuticals by 14.6% in the second quarter. American Century Companies Inc. now owns 125,169 shares of the company’s stock worth $414,000 after purchasing an additional 15,911 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Atea Pharmaceuticals by 1.6% during the second quarter. Renaissance Technologies LLC now owns 1,141,500 shares of the company’s stock valued at $3,778,000 after purchasing an additional 18,100 shares in the last quarter. Institutional investors own 86.67% of the company’s stock.

Insider Buying and Selling

In other Atea Pharmaceuticals news, CEO Jean-Pierre Sommadossi sold 33,941 shares of Atea Pharmaceuticals stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $4.05, for a total transaction of $137,461.05. Following the transaction, the chief executive officer now owns 5,890,053 shares of the company’s stock, valued at $23,854,714.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 17.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on AVIR. Morgan Stanley raised 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 research report on Tuesday, August 13th. William Blair raised shares of Atea Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th.

Atea Pharmaceuticals Trading Down 2.6 %

Shares of NASDAQ AVIR opened at $3.35 on Tuesday. Atea Pharmaceuticals, Inc. has a 12-month low of $2.77 and a 12-month high of $4.60. The firm has a 50 day moving average of $3.68 and a 200 day moving average of $3.70. The firm has a market capitalization of $282.15 million, a price-to-earnings ratio of -1.71 and a beta of 0.18.

Atea Pharmaceuticals (NASDAQ:AVIR) last released its earnings results on Wednesday, August 7th. The company reported ($0.48) earnings per share for the quarter, beating the consensus estimate of ($0.76) by $0.28. During the same period in the previous year, the company earned ($0.34) EPS. Sell-side analysts predict that Atea Pharmaceuticals, Inc. will post -2.21 EPS 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.