Dimensional Fund Advisors LP Buys 211,428 Shares of Atea Pharmaceuticals, Inc. (NASDAQ:AVIR)

Dimensional Fund Advisors LP boosted its stake in shares of Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) by 55.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 594,360 shares of the company’s stock after buying an additional 211,428 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.71% of Atea Pharmaceuticals worth $1,968,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. American Century Companies Inc. increased its position in Atea Pharmaceuticals by 14.6% during 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. 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 valued at $881,000 after purchasing an additional 26,627 shares during the period. Tidal Investments LLC purchased a new position in Atea Pharmaceuticals during the 1st quarter valued at about $87,000. Jacobs Levy Equity Management Inc. grew its position in shares of Atea Pharmaceuticals by 22.2% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 672,984 shares of the company’s stock worth $2,719,000 after buying an additional 122,447 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its stake in shares of Atea Pharmaceuticals by 238.8% during the 1st quarter. Public Employees Retirement System of Ohio now owns 61,033 shares of the company’s stock worth $247,000 after acquiring an additional 43,021 shares in the last quarter. Institutional investors own 86.67% of the company’s stock.

Atea Pharmaceuticals Price Performance

AVIR stock opened at $3.48 on Friday. The firm’s fifty day simple moving average is $3.61 and its 200-day simple moving average is $3.66. The company has a market capitalization of $293.78 million, a P/E ratio of -1.66 and a beta of 0.17. Atea Pharmaceuticals, Inc. has a 12 month low of $2.77 and a 12 month high of $4.60.

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

Analyst Ratings Changes

AVIR has been the subject of several recent analyst reports. Morgan Stanley upgraded shares of Atea Pharmaceuticals from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $2.00 to $6.88 in a research note on Tuesday, August 13th. William Blair upgraded shares of Atea Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th.

Insider Activity

In related news, CEO Jean-Pierre Sommadossi sold 33,941 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 5,890,053 shares of the company’s stock, valued at approximately $23,854,714.65. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 17.80% of the company’s stock.

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.