Jean-Pierre Sommadossi Sells 33,941 Shares of Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) Stock

Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) CEO Jean-Pierre Sommadossi sold 33,941 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $4.05, for a total transaction of $137,461.05. Following the completion of the sale, the chief executive officer now owns 5,890,053 shares in the company, valued at approximately $23,854,714.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Jean-Pierre Sommadossi also recently made the following trade(s):

• On Thursday, September 19th, Jean-Pierre Sommadossi sold 1,841 shares of Atea Pharmaceuticals stock. The stock was sold at an average price of $4.00, for a total transaction of $7,364.00.

Atea Pharmaceuticals Price Performance

Shares of Atea Pharmaceuticals stock opened at $3.67 on Friday. The company’s fifty day simple moving average is $3.71 and its 200-day simple moving average is $3.72. The stock has a market capitalization of $309.10 million, a PE ratio of -1.87 and a beta of 0.18. Atea Pharmaceuticals, Inc. has a 1-year low of $2.77 and a 1-year high of $4.60.

Atea Pharmaceuticals (NASDAQ:AVIR) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.48) EPS for the quarter, beating the consensus estimate of ($0.76) by $0.28. During the same quarter in the prior year, the company earned ($0.34) EPS. As a group, research analysts anticipate that Atea Pharmaceuticals, Inc. will post -2.55 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AVIR. William Blair upgraded shares of Atea Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Morgan Stanley upgraded shares of Atea Pharmaceuticals from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $2.00 to $6.88 in a research note on Tuesday, August 13th.

Institutional Trading of Atea Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the company. Sunpointe LLC bought a new stake in shares of Atea Pharmaceuticals during the 4th quarter valued at $36,000. RPO LLC bought a new stake in Atea Pharmaceuticals in the 4th quarter valued at $39,000. China Universal Asset Management Co. Ltd. increased its holdings in Atea Pharmaceuticals by 67.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 16,179 shares of the company’s stock valued at $65,000 after acquiring an additional 6,526 shares during the last quarter. Tidal Investments LLC bought a new stake in Atea Pharmaceuticals in the 1st quarter valued at $87,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Atea Pharmaceuticals in the 1st quarter valued at $123,000. 86.67% of the stock is currently 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.