CM Management LLC Grows Stake in Atea Pharmaceuticals, Inc. (NASDAQ:AVIR)

CM Management LLC boosted its stake in Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) by 11.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 300,000 shares of the company’s stock after buying an additional 30,000 shares during the quarter. CM Management LLC’s holdings in Atea Pharmaceuticals were worth $1,005,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AVIR. BML Capital Management LLC lifted its position in shares of Atea Pharmaceuticals by 4.3% in the third quarter. BML Capital Management LLC now owns 6,650,000 shares of the company’s stock valued at $22,278,000 after acquiring an additional 274,379 shares in the last quarter. Barclays PLC raised its stake in Atea Pharmaceuticals by 74.5% in the 3rd quarter. Barclays PLC now owns 177,077 shares of the company’s stock valued at $593,000 after purchasing an additional 75,624 shares during the last quarter. FMR LLC lifted its holdings in Atea Pharmaceuticals by 2.8% in the 3rd quarter. FMR LLC now owns 6,618,297 shares of the company’s stock valued at $22,171,000 after purchasing an additional 182,174 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Atea Pharmaceuticals by 8.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 650,157 shares of the company’s stock worth $2,178,000 after purchasing an additional 50,794 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Atea Pharmaceuticals by 106.1% during the third quarter. JPMorgan Chase & Co. now owns 95,244 shares of the company’s stock worth $319,000 after buying an additional 49,028 shares in the last quarter. 86.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Franklin M. Berger sold 359,606 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $2.85, for a total value of $1,024,877.10. Following the completion of the transaction, the director now directly owns 451,897 shares in the company, valued at approximately $1,287,906.45. This represents a 44.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 17.80% of the stock is owned by company insiders.

Atea Pharmaceuticals Price Performance

Shares of Atea Pharmaceuticals stock opened at $2.99 on Friday. Atea Pharmaceuticals, Inc. has a 1-year low of $2.75 and a 1-year high of $4.18. The stock has a market cap of $252.54 million, a P/E ratio of -1.44 and a beta of 0.18. The stock’s 50 day simple moving average is $3.15 and its 200-day simple moving average is $3.34.

Atea Pharmaceuticals (NASDAQ:AVIR) last issued its earnings results on Thursday, March 6th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.05). As a group, research analysts expect that Atea Pharmaceuticals, Inc. will post -2.01 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, William Blair reissued an “outperform” rating on shares of Atea Pharmaceuticals in a research note on Friday.

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.