SG Americas Securities LLC Increases Stock Position in Atea Pharmaceuticals, Inc. (NASDAQ:AVIR)

SG Americas Securities LLC increased its position in shares of Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) by 117.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,612 shares of the company’s stock after buying an additional 16,561 shares during the period. SG Americas Securities LLC’s holdings in Atea Pharmaceuticals were worth $103,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Tidal Investments LLC purchased a new stake in shares of Atea Pharmaceuticals during the first quarter worth about $87,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Atea Pharmaceuticals during the 1st quarter worth approximately $123,000. The Manufacturers Life Insurance Company raised its position in shares of Atea Pharmaceuticals by 14.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 34,886 shares of the company’s stock valued at $115,000 after purchasing an additional 4,339 shares in the last quarter. Public Employees Retirement System of Ohio raised its position 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 purchasing an additional 43,021 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted 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 valued at $272,000 after buying an additional 11,968 shares during the last quarter. Institutional investors and hedge funds own 86.67% of the company’s stock.

Insider Activity

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AVIR. Morgan Stanley upgraded shares of Atea Pharmaceuticals from an “underweight” rating to an “equal weight” rating and lifted their price target 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 report on Friday, August 30th.

Atea Pharmaceuticals Trading Down 0.9 %

Shares of AVIR opened at $3.35 on Monday. Atea Pharmaceuticals, Inc. has a 52 week low of $2.77 and a 52 week high of $4.60. The firm has a market cap of $282.15 million, a price-to-earnings ratio of -1.71 and a beta of 0.17. The stock has a 50 day moving average of $3.63 and a 200-day moving average of $3.64.

Atea Pharmaceuticals (NASDAQ:AVIR) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.28. During the same period in the prior year, the firm earned ($0.34) EPS. On average, sell-side analysts predict that Atea Pharmaceuticals, Inc. will post -2.21 earnings per share for the current fiscal year.

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.