Fmr LLC Buys 182,174 Shares of Atea Pharmaceuticals, Inc. (NASDAQ:AVIR)

Fmr LLC raised its stake in Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) by 2.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,618,297 shares of the company’s stock after buying an additional 182,174 shares during the period. Fmr LLC owned about 7.84% of Atea Pharmaceuticals worth $22,171,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Intech Investment Management LLC bought a new stake in shares of Atea Pharmaceuticals in the 3rd quarter worth approximately $36,000. Dynamic Technology Lab Private Ltd bought a new stake in Atea Pharmaceuticals in the third quarter worth $37,000. China Universal Asset Management Co. Ltd. boosted 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 valued at $54,000 after buying an additional 6,343 shares during the period. Tidal Investments LLC bought a new position in shares of Atea Pharmaceuticals during the first quarter valued at about $87,000. Finally, SG Americas Securities LLC increased its holdings 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 worth $103,000 after buying an additional 16,561 shares during the period. Institutional investors own 86.67% of the company’s stock.

Atea Pharmaceuticals Trading Up 2.7 %

NASDAQ AVIR opened at $3.02 on Tuesday. The stock’s fifty day moving average price is $3.38 and its 200-day moving average price is $3.54. Atea Pharmaceuticals, Inc. has a 12 month low of $2.86 and a 12 month high of $4.60. The stock has a market cap of $255.08 million, a P/E ratio of -1.46 and a beta of 0.20.

Atea Pharmaceuticals (NASDAQ:AVIR) last announced 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 quarter in the previous year, the business earned ($0.40) EPS. As a group, analysts forecast that Atea Pharmaceuticals, Inc. will post -2.01 earnings per share for the current fiscal year.

Insider Activity at Atea Pharmaceuticals

In other Atea Pharmaceuticals news, CEO Jean-Pierre Sommadossi sold 33,941 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $4.05, for a total transaction of $137,461.05. Following the sale, the chief executive officer now directly owns 5,890,053 shares in the company, valued at $23,854,714.65. This represents a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 17.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.