China Universal Asset Management Co. Ltd. Acquires 6,343 Shares of Atea Pharmaceuticals, Inc. (NASDAQ:AVIR)

China Universal Asset Management Co. Ltd. grew its holdings in Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) by 64.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,237 shares of the company’s stock after purchasing an additional 6,343 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Atea Pharmaceuticals were worth $54,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tidal Investments LLC acquired a new position in Atea Pharmaceuticals during the 1st quarter worth about $87,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Atea Pharmaceuticals in the first quarter worth about $123,000. SG Americas Securities LLC lifted its position in shares of Atea Pharmaceuticals by 117.9% during the third quarter. SG Americas Securities LLC now owns 30,612 shares of the company’s stock worth $103,000 after purchasing an additional 16,561 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Atea Pharmaceuticals by 14.2% during the second quarter. The Manufacturers Life Insurance Company now owns 34,886 shares of the company’s stock valued at $115,000 after purchasing an additional 4,339 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of Atea Pharmaceuticals by 238.8% in the first quarter. Public Employees Retirement System of Ohio now owns 61,033 shares of the company’s stock valued at $247,000 after purchasing an additional 43,021 shares in the last quarter. 86.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Atea Pharmaceuticals news, CEO Jean-Pierre Sommadossi sold 33,941 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $4.05, for a total value of $137,461.05. Following the transaction, the chief executive officer now owns 5,890,053 shares of the company’s stock, valued at approximately $23,854,714.65. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 17.80% of the stock is owned by insiders.

Analyst Ratings Changes

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

Atea Pharmaceuticals Price Performance

Shares of NASDAQ:AVIR opened at $3.24 on Friday. The stock has a market cap of $273.53 million, a price-to-earnings ratio of -1.54 and a beta of 0.17. The company has a 50 day moving average of $3.59 and a 200-day moving average of $3.63. Atea Pharmaceuticals, Inc. has a one year low of $2.77 and a one year high of $4.60.

Atea Pharmaceuticals (NASDAQ:AVIR) last released its earnings results on Wednesday, August 7th. The company reported ($0.48) EPS for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.28. During the same quarter last year, the business posted ($0.34) EPS. Equities research analysts anticipate that Atea Pharmaceuticals, Inc. will post -2.21 earnings per share for the current year.

Atea Pharmaceuticals Profile

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.