Jacobs Levy Equity Management Inc. Trims Stock Holdings in Atea Pharmaceuticals, Inc. (NASDAQ:AVIR)

Jacobs Levy Equity Management Inc. cut its holdings in shares of Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) by 9.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 509,471 shares of the company’s stock after selling 55,427 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.60% of Atea Pharmaceuticals worth $1,707,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in AVIR. BML Capital Management LLC lifted its position in shares of 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 last quarter. FMR LLC raised its stake in Atea Pharmaceuticals by 2.8% during the third 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. Vanguard Group Inc. lifted its holdings in Atea Pharmaceuticals by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 4,722,522 shares of the company’s stock worth $19,079,000 after buying an additional 122,812 shares during the last quarter. Almitas Capital LLC acquired a new position in shares of Atea Pharmaceuticals in the 2nd quarter worth approximately $4,271,000. Finally, Renaissance Technologies LLC increased its holdings in shares of Atea Pharmaceuticals by 1.6% in the 2nd quarter. Renaissance Technologies LLC now owns 1,141,500 shares of the company’s stock valued at $3,778,000 after acquiring an additional 18,100 shares during the last quarter. 86.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Atea Pharmaceuticals

In related news, CEO Jean-Pierre Sommadossi sold 33,941 shares of Atea Pharmaceuticals stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $4.05, for a total transaction of $137,461.05. Following the sale, the chief executive officer now directly owns 5,890,053 shares in the company, valued at $23,854,714.65. The trade was a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 17.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

Atea Pharmaceuticals Trading Up 0.3 %

Shares of NASDAQ AVIR opened at $2.94 on Monday. Atea Pharmaceuticals, Inc. has a 12-month low of $2.86 and a 12-month high of $4.60. The company has a market cap of $248.31 million, a price-to-earnings ratio of -1.42 and a beta of 0.20. The stock’s 50 day simple moving average is $3.38 and its 200 day simple moving average is $3.54.

Atea Pharmaceuticals (NASDAQ:AVIR) last posted its earnings results on Thursday, November 7th. The company reported ($0.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.13. During the same period in the prior year, the firm earned ($0.40) earnings per share. As a group, equities analysts forecast that Atea Pharmaceuticals, Inc. will post -2.01 earnings per share for the current fiscal 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.