Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) Stock Position Lifted by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. boosted its stake in Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) by 64.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,237 shares of the company’s stock after buying an additional 6,343 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Atea Pharmaceuticals were worth $54,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Tidal Investments LLC purchased a new stake in shares of Atea Pharmaceuticals during the first quarter worth $87,000. SG Americas Securities LLC raised its stake in shares of Atea Pharmaceuticals by 117.9% during the 3rd quarter. SG Americas Securities LLC now owns 30,612 shares of the company’s stock worth $103,000 after purchasing an additional 16,561 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Atea Pharmaceuticals by 14.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 34,886 shares of the company’s stock valued at $115,000 after buying an additional 4,339 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Atea Pharmaceuticals in the 1st quarter valued at approximately $123,000. Finally, Public Employees Retirement System of Ohio increased its holdings in Atea Pharmaceuticals by 238.8% in the first quarter. Public Employees Retirement System of Ohio now owns 61,033 shares of the company’s stock worth $247,000 after buying an additional 43,021 shares during the last quarter. Institutional investors and hedge funds own 86.67% of the company’s stock.

Insider Transactions at Atea Pharmaceuticals

In related 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 sale, the chief executive officer now owns 5,890,053 shares of the company’s stock, valued at $23,854,714.65. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 17.80% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on AVIR. Morgan Stanley upgraded shares of Atea Pharmaceuticals from an “underweight” rating to an “equal weight” rating and lifted their target price 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 Trading Down 1.2 %

AVIR opened at $3.24 on Friday. The business has a 50 day moving average of $3.59 and a 200-day moving average of $3.63. The stock has a market capitalization of $273.53 million, a price-to-earnings ratio of -1.54 and a beta of 0.17. Atea Pharmaceuticals, Inc. has a 1-year low of $2.77 and a 1-year high of $4.60.

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

Atea Pharmaceuticals Company 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.