Verition Fund Management LLC Sells 9,067 Shares of Atea Pharmaceuticals, Inc. (NASDAQ:AVIR)

Verition Fund Management LLC lessened its position in shares of Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) by 13.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,909 shares of the company’s stock after selling 9,067 shares during the quarter. Verition Fund Management LLC owned approximately 0.07% of Atea Pharmaceuticals worth $191,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. BML Capital Management LLC lifted its position in Atea Pharmaceuticals by 4.3% in the third quarter. BML Capital Management LLC now owns 6,650,000 shares of the company’s stock worth $22,278,000 after purchasing an additional 274,379 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Atea Pharmaceuticals by 55.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 594,360 shares of the company’s stock valued at $1,968,000 after buying an additional 211,428 shares in the last quarter. FMR LLC lifted its holdings in shares of Atea Pharmaceuticals by 2.8% during the 3rd quarter. FMR LLC now owns 6,618,297 shares of the company’s stock worth $22,171,000 after acquiring an additional 182,174 shares during the period. Marshall Wace LLP acquired a new stake in shares of Atea Pharmaceuticals during the 2nd quarter valued at about $603,000. Finally, Almitas Capital LLC bought a new stake in Atea Pharmaceuticals in the second quarter valued at about $4,271,000. Institutional investors and hedge funds own 86.67% of the company’s stock.

Analysts Set New Price Targets

Separately, William Blair upgraded shares of Atea Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th.

Atea Pharmaceuticals Price Performance

Shares of NASDAQ:AVIR opened at $3.10 on Tuesday. The business’s fifty day moving average price is $3.34 and its two-hundred day moving average price is $3.51. Atea Pharmaceuticals, Inc. has a fifty-two week low of $2.75 and a fifty-two week high of $4.60. The stock has a market capitalization of $261.84 million, a price-to-earnings ratio of -1.50 and a beta of 0.20.

Atea Pharmaceuticals (NASDAQ:AVIR) last posted its earnings results on Thursday, November 7th. The company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.13. During the same quarter in the prior year, the business posted ($0.40) earnings per share. Research analysts expect that Atea Pharmaceuticals, Inc. will post -2.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Franklin M. Berger sold 359,606 shares of Atea Pharmaceuticals stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $2.85, for a total transaction of $1,024,877.10. Following the transaction, the director now directly owns 451,897 shares of the company’s stock, valued at $1,287,906.45. This trade represents a 44.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company 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.