Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its holdings in Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) by 11.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 266,184 shares of the company’s stock after acquiring an additional 26,627 shares during the period. Bank of New York Mellon Corp owned 0.32% of Atea Pharmaceuticals worth $881,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Atea Pharmaceuticals by 2.7% in the first quarter. Vanguard Group Inc. now owns 4,722,522 shares of the company’s stock valued at $19,079,000 after purchasing an additional 122,812 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in Atea Pharmaceuticals by 22.2% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 672,984 shares of the company’s stock valued at $2,719,000 after buying an additional 122,447 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in Atea Pharmaceuticals by 238.8% during 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Atea Pharmaceuticals during the first quarter worth $123,000. Finally, Tidal Investments LLC acquired a new position in shares of Atea Pharmaceuticals in the first quarter worth $87,000. 86.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Atea Pharmaceuticals Stock Performance

AVIR stock opened at $3.67 on Friday. The company has a 50 day moving average price of $3.71 and a two-hundred day moving average price of $3.72. The stock has a market capitalization of $309.10 million, a P/E ratio of -1.87 and a beta of 0.18. Atea Pharmaceuticals, Inc. has a one year low of $2.77 and a one year high of $4.60.

Atea Pharmaceuticals (NASDAQ:AVIR) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.48) EPS for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.28. During the same period in the previous year, the company posted ($0.34) earnings per share. Research analysts forecast that Atea Pharmaceuticals, Inc. will post -2.55 earnings per share for the current fiscal year.

Insider Buying and Selling at Atea Pharmaceuticals

In other 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 transaction, the chief executive officer now directly owns 5,890,053 shares in the company, valued at approximately $23,854,714.65. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 17.80% of the stock is owned by company insiders.

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.