Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) CEO Jean-Pierre Sommadossi Sells 33,941 Shares of Stock

Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) 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 transaction of $137,461.05. Following the completion of the sale, the chief executive officer now directly owns 5,890,053 shares in the company, valued at $23,854,714.65. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Jean-Pierre Sommadossi also recently made the following trade(s):

• On Thursday, September 19th, Jean-Pierre Sommadossi sold 1,841 shares of Atea Pharmaceuticals stock. The shares were sold at an average price of $4.00, for a total transaction of $7,364.00.

Atea Pharmaceuticals Price Performance

Shares of NASDAQ:AVIR opened at $3.82 on Friday. The company has a market cap of $321.73 million, a price-to-earnings ratio of -1.95 and a beta of 0.18. The firm has a 50 day simple moving average of $3.70 and a 200 day simple moving average of $3.73. Atea Pharmaceuticals, Inc. has a one year low of $2.77 and a one year high of $4.60.

Atea Pharmaceuticals (NASDAQ:AVIR) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.48) earnings per share for the quarter, topping the consensus estimate of ($0.76) by $0.28. During the same quarter last year, the firm earned ($0.34) EPS. As a group, analysts expect that Atea Pharmaceuticals, Inc. will post -2.55 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. William Blair upgraded shares of Atea Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th. Morgan Stanley upgraded shares of Atea Pharmaceuticals from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $2.00 to $6.88 in a research report on Tuesday, August 13th.

Institutional Investors Weigh In On Atea Pharmaceuticals

A number of large investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company grew its holdings in shares of Atea Pharmaceuticals by 14.2% during the second 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. China Universal Asset Management Co. Ltd. raised its position in Atea Pharmaceuticals by 67.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 16,179 shares of the company’s stock worth $65,000 after acquiring an additional 6,526 shares during the period. Sunpointe LLC purchased a new position in shares of Atea Pharmaceuticals in the fourth quarter worth about $36,000. Price T Rowe Associates Inc. MD increased its stake in shares of Atea Pharmaceuticals by 21.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 67,137 shares of the company’s stock worth $272,000 after purchasing an additional 11,968 shares in the last quarter. Finally, RPO LLC purchased a new position in Atea Pharmaceuticals during the fourth quarter valued at approximately $39,000. 86.67% of the stock is currently owned by institutional investors and hedge funds.

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.