Hsbc Holdings PLC Sells 13,259 Shares of Atea Pharmaceuticals, Inc. (NASDAQ:AVIR)

Hsbc Holdings PLC reduced its position in shares of Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) by 7.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 158,109 shares of the company’s stock after selling 13,259 shares during the quarter. Hsbc Holdings PLC owned approximately 0.19% of Atea Pharmaceuticals worth $518,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. raised its stake in shares of Atea Pharmaceuticals by 67.6% during the first 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. Sunpointe LLC bought a new position in Atea Pharmaceuticals during the 4th quarter valued at approximately $36,000. Price T Rowe Associates Inc. MD lifted its holdings in Atea Pharmaceuticals by 21.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 67,137 shares of the company’s stock worth $272,000 after buying an additional 11,968 shares during the period. American Century Companies Inc. grew its position in shares of Atea Pharmaceuticals by 14.6% in the 2nd quarter. American Century Companies Inc. now owns 125,169 shares of the company’s stock worth $414,000 after buying an additional 15,911 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Atea Pharmaceuticals by 1.6% during the second quarter. Renaissance Technologies LLC now owns 1,141,500 shares of the company’s stock valued at $3,778,000 after buying an additional 18,100 shares during the period. Hedge funds and other institutional investors own 86.67% of the company’s stock.

Atea Pharmaceuticals Stock Performance

Shares of NASDAQ:AVIR opened at $3.35 on Tuesday. The firm has a market capitalization of $282.15 million, a P/E ratio of -1.71 and a beta of 0.18. The stock has a 50 day moving average price of $3.68 and a 200-day moving average price of $3.70. Atea Pharmaceuticals, Inc. has a 52-week low of $2.77 and a 52-week high of $4.60.

Atea Pharmaceuticals (NASDAQ:AVIR) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.28. During the same period in the prior year, the company posted ($0.34) earnings per share. On average, equities analysts forecast that Atea Pharmaceuticals, Inc. will post -2.21 EPS for the current fiscal year.

Insider Activity at Atea Pharmaceuticals

In related news, CEO Jean-Pierre Sommadossi sold 33,941 shares of the business’s 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 owns 5,890,053 shares of the company’s stock, valued at $23,854,714.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 17.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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