Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) Shares Sold by Rhumbline Advisers

Rhumbline Advisers decreased its position in shares of Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) by 3.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 137,598 shares of the company’s stock after selling 4,304 shares during the period. Rhumbline Advisers owned about 0.16% of Atea Pharmaceuticals worth $455,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AVIR. Sunpointe LLC acquired a new stake in shares of Atea Pharmaceuticals during the fourth quarter worth about $36,000. China Universal Asset Management Co. Ltd. lifted its holdings in Atea Pharmaceuticals by 67.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 16,179 shares of the company’s stock worth $65,000 after buying an additional 6,526 shares in the last quarter. Tidal Investments LLC purchased a new position in Atea Pharmaceuticals in the 1st quarter valued at approximately $87,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Atea Pharmaceuticals in the first quarter worth $123,000. Finally, Public Employees Retirement System of Ohio increased its position in shares of 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 acquiring an additional 43,021 shares during the period. 86.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AVIR has been the subject of several analyst reports. Morgan Stanley raised Atea Pharmaceuticals from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock 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 research note on Friday, August 30th.

Atea Pharmaceuticals Trading Up 0.3 %

Atea Pharmaceuticals stock opened at $3.44 on Friday. The company has a fifty day simple moving average of $3.69 and a 200-day simple moving average of $3.71. The stock has a market cap of $290.40 million, a P/E ratio of -1.76 and a beta of 0.18. Atea Pharmaceuticals, Inc. has a 12-month low of $2.77 and a 12-month high of $4.60.

Atea Pharmaceuticals (NASDAQ:AVIR) last released 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. As a group, sell-side analysts forecast that Atea Pharmaceuticals, Inc. will post -2.21 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 company’s stock in a transaction 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 in the company, valued at approximately $23,854,714.65. The sale was disclosed in a document filed with the SEC, which is available at this link. 17.80% of the stock is currently owned by insiders.

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.