Dynamic Technology Lab Private Ltd Invests $37,000 in Atea Pharmaceuticals, Inc. (NASDAQ:AVIR)

Dynamic Technology Lab Private Ltd bought a new position in Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,178 shares of the company’s stock, valued at approximately $37,000.

Other hedge funds have also recently modified their holdings of the company. Intech Investment Management LLC purchased a new position in Atea Pharmaceuticals during the third quarter worth approximately $36,000. 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 worth $54,000 after purchasing an additional 6,343 shares in the last quarter. Tidal Investments LLC purchased a new position in Atea Pharmaceuticals during the first quarter worth approximately $87,000. SG Americas Securities LLC boosted its position in 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. Finally, The Manufacturers Life Insurance Company boosted its position in Atea Pharmaceuticals by 14.2% during the second quarter. The Manufacturers Life Insurance Company now owns 34,886 shares of the company’s stock worth $115,000 after purchasing an additional 4,339 shares in the last quarter. Hedge funds and other institutional investors own 86.67% of the company’s stock.

Atea Pharmaceuticals Price Performance

Shares of Atea Pharmaceuticals stock opened at $3.48 on Wednesday. The business has a 50 day simple moving average of $3.41 and a two-hundred day simple moving average of $3.56. Atea Pharmaceuticals, Inc. has a 12 month low of $2.88 and a 12 month high of $4.60.

Atea Pharmaceuticals (NASDAQ:AVIR) last announced its earnings results on Thursday, November 7th. The company reported ($0.37) EPS for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.13. During the same period last year, the firm posted ($0.40) EPS. On average, research analysts predict that Atea Pharmaceuticals, Inc. will post -2.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

AVIR has been the topic of a number of recent analyst reports. Morgan Stanley upgraded Atea Pharmaceuticals from an “underweight” rating to an “equal weight” rating and increased their price target for the stock 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 research report on Friday, August 30th.

Insider Activity at Atea Pharmaceuticals

In related news, CEO Jean-Pierre Sommadossi sold 33,941 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $4.05, for a total value of $137,461.05. Following the completion of the sale, the chief executive officer now owns 5,890,053 shares of the company’s stock, valued at approximately $23,854,714.65. This trade represents a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 17.80% of the company’s stock.

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.