Connor Clark & Lunn Investment Management Ltd. Invests $148,000 in Atea Pharmaceuticals, Inc. (NASDAQ:AVIR)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 44,157 shares of the company’s stock, valued at approximately $148,000.

A number of other large investors have also added to or reduced their stakes in the business. BML Capital Management LLC increased its position in Atea Pharmaceuticals by 4.3% in the 3rd quarter. BML Capital Management LLC now owns 6,650,000 shares of the company’s stock valued at $22,278,000 after acquiring an additional 274,379 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in shares of Atea Pharmaceuticals by 64.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 16,237 shares of the company’s stock worth $54,000 after purchasing an additional 6,343 shares during the last quarter. SG Americas Securities LLC increased its holdings in Atea Pharmaceuticals by 117.9% in the third quarter. SG Americas Securities LLC now owns 30,612 shares of the company’s stock valued at $103,000 after purchasing an additional 16,561 shares during the period. Almitas Capital LLC bought a new position in Atea Pharmaceuticals during the 2nd quarter worth $4,271,000. Finally, The Manufacturers Life Insurance Company raised its position in Atea Pharmaceuticals by 14.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 34,886 shares of the company’s stock worth $115,000 after purchasing an additional 4,339 shares during the last quarter. Institutional investors own 86.67% of the company’s stock.

Insider Activity at Atea Pharmaceuticals

In related news, CEO Jean-Pierre Sommadossi sold 33,941 shares of the business’s 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 transaction, the chief executive officer now owns 5,890,053 shares in the company, valued at $23,854,714.65. The trade was a 0.57 % decrease in their position. The transaction 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 corporate insiders.

Atea Pharmaceuticals Stock Down 1.2 %

AVIR opened at $3.42 on Monday. Atea Pharmaceuticals, Inc. has a twelve month low of $2.88 and a twelve month high of $4.60. The company has a fifty day moving average of $3.41 and a 200-day moving average of $3.56. The stock has a market cap of $288.86 million, a PE ratio of -1.65 and a beta of 0.17.

Atea Pharmaceuticals (NASDAQ:AVIR) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.37) EPS for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.13. During the same quarter in the prior year, the firm posted ($0.40) EPS. Sell-side analysts anticipate that Atea Pharmaceuticals, Inc. will post -2.01 EPS for the current fiscal year.

Analyst Ratings Changes

AVIR has been the topic of a number of analyst reports. Morgan Stanley upgraded Atea Pharmaceuticals from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $2.00 to $6.88 in a research report on Tuesday, August 13th. William Blair upgraded Atea Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th.

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.