Virtu Financial LLC Takes $99,000 Position in Atea Pharmaceuticals, Inc. (NASDAQ:AVIR)

Virtu Financial LLC purchased a new stake in Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 29,491 shares of the company’s stock, valued at approximately $99,000.

A number of other institutional investors have also recently added to or reduced their stakes in AVIR. Intech Investment Management LLC acquired a new stake in shares of Atea Pharmaceuticals in the 3rd quarter worth $36,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Atea Pharmaceuticals in the third quarter valued at about $37,000. China Universal Asset Management Co. Ltd. grew its holdings in shares of Atea Pharmaceuticals by 64.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 16,237 shares of the company’s stock valued at $54,000 after purchasing an additional 6,343 shares during the period. Zacks Investment Management purchased a new position in Atea Pharmaceuticals during the third quarter worth about $80,000. Finally, SG Americas Securities LLC boosted its holdings in Atea Pharmaceuticals by 117.9% in the 3rd quarter. SG Americas Securities LLC now owns 30,612 shares of the company’s stock valued at $103,000 after purchasing an additional 16,561 shares during the last quarter. Hedge funds and other institutional investors own 86.67% of the company’s stock.

Insider Activity

In other news, Director Franklin M. Berger sold 359,606 shares of Atea Pharmaceuticals stock in a transaction 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 sale, the director now directly owns 451,897 shares of the company’s stock, valued at approximately $1,287,906.45. The trade was a 44.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 17.80% of the company’s stock.

Atea Pharmaceuticals Stock Down 0.9 %

NASDAQ:AVIR opened at $3.13 on Friday. The company has a market capitalization of $264.37 million, a P/E ratio of -1.51 and a beta of 0.20. Atea Pharmaceuticals, Inc. has a 52 week low of $2.75 and a 52 week high of $4.60. The stock’s fifty day moving average is $3.32 and its two-hundred day moving average is $3.50.

Atea Pharmaceuticals (NASDAQ:AVIR) last posted 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 quarter last year, the firm posted ($0.40) earnings per share. Sell-side analysts anticipate that Atea Pharmaceuticals, Inc. will post -2.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Atea Pharmaceuticals Company 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.