Verition Fund Management LLC Has $191,000 Stock Holdings in Atea Pharmaceuticals, Inc. (NASDAQ:AVIR)

Verition Fund Management LLC reduced its position in Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) by 13.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 56,909 shares of the company’s stock after selling 9,067 shares during the period. Verition Fund Management LLC’s holdings in Atea Pharmaceuticals were worth $191,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of AVIR. The Manufacturers Life Insurance Company boosted its holdings in shares of Atea Pharmaceuticals by 14.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 34,886 shares of the company’s stock worth $115,000 after buying an additional 4,339 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in shares of 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 acquiring an additional 6,343 shares during the period. Intech Investment Management LLC acquired a new position in shares of Atea Pharmaceuticals in the third quarter valued at approximately $36,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Atea Pharmaceuticals in the third quarter valued at approximately $37,000. Finally, American Century Companies Inc. increased its stake in shares of Atea Pharmaceuticals by 14.6% during the second quarter. American Century Companies Inc. now owns 125,169 shares of the company’s stock worth $414,000 after purchasing an additional 15,911 shares during the period. Institutional investors own 86.67% of the company’s stock.

Wall Street Analyst Weigh In

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

Atea Pharmaceuticals Trading Up 5.8 %

AVIR opened at $3.10 on Tuesday. The company has a market cap of $261.84 million, a P/E ratio of -1.50 and a beta of 0.20. The company’s 50 day moving average is $3.34 and its 200-day moving average is $3.51. Atea Pharmaceuticals, Inc. has a 1-year low of $2.75 and a 1-year high of $4.60.

Atea Pharmaceuticals (NASDAQ:AVIR) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.13. During the same period last year, the company posted ($0.40) earnings per share. On average, equities analysts forecast that Atea Pharmaceuticals, Inc. will post -2.01 EPS for the current year.

Insider Activity at Atea Pharmaceuticals

In other Atea Pharmaceuticals news, Director Franklin M. Berger sold 359,606 shares of the firm’s stock in a transaction that occurred 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 owns 451,897 shares of the company’s stock, valued at approximately $1,287,906.45. This trade represents a 44.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 17.80% of the stock is owned by corporate insiders.

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.