Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 44,157 Atea Pharmaceuticals, Inc. (NASDAQ:AVIR)

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 44,157 shares of the company’s stock, valued at approximately $148,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.05% of Atea Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. increased its position in Atea Pharmaceuticals by 64.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 16,237 shares of the company’s stock worth $54,000 after acquiring an additional 6,343 shares during the period. Tidal Investments LLC bought a new position in shares of Atea Pharmaceuticals during the first quarter worth approximately $87,000. SG Americas Securities LLC boosted its stake in shares of 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 buying an additional 16,561 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Atea Pharmaceuticals by 14.2% in 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 period. Finally, Public Employees Retirement System of Ohio grew 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. Institutional investors and hedge funds own 86.67% of the company’s stock.

Analyst Upgrades and Downgrades

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

Atea Pharmaceuticals Trading Down 1.2 %

NASDAQ AVIR opened at $3.42 on Monday. Atea Pharmaceuticals, Inc. has a 1 year low of $2.88 and a 1 year high of $4.60. The firm has a market capitalization of $288.86 million, a price-to-earnings ratio of -1.65 and a beta of 0.17. The firm’s 50 day simple moving average is $3.41 and its 200 day simple moving average is $3.56.

Atea Pharmaceuticals (NASDAQ:AVIR) last issued its earnings results on Thursday, November 7th. The company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.13. During the same period last year, the company posted ($0.40) earnings per share. On average, equities research analysts forecast that Atea Pharmaceuticals, Inc. will post -2.01 earnings per share for the current year.

Insider Buying and Selling at Atea Pharmaceuticals

In related news, CEO Jean-Pierre Sommadossi sold 33,941 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $4.05, for a total value of $137,461.05. Following the completion of the transaction, the chief executive officer now owns 5,890,053 shares of the company’s stock, valued at $23,854,714.65. This represents a 0.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 17.80% of the company’s stock.

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.