Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) Director Sells $1,024,877.10 in Stock

Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) Director Franklin M. Berger sold 359,606 shares of the business’s 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 owns 451,897 shares in the company, valued at $1,287,906.45. The trade was a 44.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Atea Pharmaceuticals Stock Performance

AVIR opened at $2.93 on Friday. Atea Pharmaceuticals, Inc. has a fifty-two week low of $2.75 and a fifty-two week high of $4.60. The firm has a 50-day moving average of $3.34 and a 200 day moving average of $3.52. The firm has a market cap of $247.48 million, a P/E ratio of -1.42 and a beta of 0.20.

Atea Pharmaceuticals (NASDAQ:AVIR) last released 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 prior year, the company earned ($0.40) EPS. Equities research analysts predict that Atea Pharmaceuticals, Inc. will post -2.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, William Blair upgraded Atea Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th.

Hedge Funds Weigh In On Atea Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the company. Almitas Capital LLC purchased a new stake in Atea Pharmaceuticals in the 2nd quarter worth about $4,271,000. BML Capital Management LLC boosted its position in Atea Pharmaceuticals by 4.3% during the third quarter. BML Capital Management LLC now owns 6,650,000 shares of the company’s stock worth $22,278,000 after purchasing an additional 274,379 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Atea Pharmaceuticals by 55.2% in the second quarter. Dimensional Fund Advisors LP now owns 594,360 shares of the company’s stock worth $1,968,000 after purchasing an additional 211,428 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Atea Pharmaceuticals in the second quarter valued at approximately $603,000. Finally, FMR LLC lifted its stake in shares of Atea Pharmaceuticals by 2.8% during the 3rd quarter. FMR LLC now owns 6,618,297 shares of the company’s stock valued at $22,171,000 after buying an additional 182,174 shares in the last quarter. 86.67% of the stock is owned by institutional investors.

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.