Sei Investments Co. Invests $841,000 in Atea Pharmaceuticals, Inc. $AVIR

Sei Investments Co. bought a new stake in Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) in the first quarter, HoldingsChannel reports. The firm bought 156,384 shares of the company’s stock, valued at approximately $841,000.

Several other hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in Atea Pharmaceuticals by 9.2% in the third quarter. Dimensional Fund Advisors LP now owns 1,540,716 shares of the company’s stock worth $4,468,000 after purchasing an additional 129,453 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Atea Pharmaceuticals by 118.6% during the 4th quarter. JPMorgan Chase & Co. now owns 1,348,294 shares of the company’s stock valued at $4,813,000 after buying an additional 731,443 shares in the last quarter. Millennium Management LLC grew its position in shares of Atea Pharmaceuticals by 43.3% in the 4th quarter. Millennium Management LLC now owns 698,156 shares of the company’s stock worth $2,492,000 after buying an additional 210,933 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Atea Pharmaceuticals by 38.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 472,522 shares of the company’s stock worth $1,687,000 after buying an additional 132,382 shares during the period. Finally, Two Sigma Investments LP grew its position in shares of Atea Pharmaceuticals by 28.6% in the 3rd quarter. Two Sigma Investments LP now owns 471,293 shares of the company’s stock worth $1,367,000 after buying an additional 104,681 shares during the period. 86.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Morgan Stanley lifted their price target on shares of Atea Pharmaceuticals from $6.00 to $7.00 and gave the company an “equal weight” rating in a research report on Thursday. Weiss Ratings restated a “sell (d-)” rating on shares of Atea Pharmaceuticals in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Atea Pharmaceuticals has a consensus rating of “Hold” and an average target price of $7.00.

Atea Pharmaceuticals Trading Up 0.2%

Atea Pharmaceuticals stock opened at $5.07 on Friday. Atea Pharmaceuticals, Inc. has a 12 month low of $2.78 and a 12 month high of $6.45. The company has a market capitalization of $405.75 million, a price-to-earnings ratio of -2.44 and a beta of 0.30. The business’s fifty day simple moving average is $4.68 and its two-hundred day simple moving average is $4.92.

Atea Pharmaceuticals (NASDAQ:AVIR) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.41) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.15. On average, equities research analysts predict that Atea Pharmaceuticals, Inc. will post -1.93 EPS for the current year.

Atea Pharmaceuticals Profile

Atea Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of oral antiviral therapeutics targeting RNA viruses. The company’s lead program, AT-527, is a direct-acting nucleotide prodrug licensed from Roche and is being evaluated as a potential treatment for coronavirus disease 2019 (COVID-19). In addition to its COVID-19 efforts, Atea’s pipeline includes other small-molecule candidates for hepatitis C virus and emerging RNA pathogens, leveraging its proprietary nucleotide chemistry platform to address significant unmet medical needs in infectious diseases.

Founded in 2014 and headquartered in Cambridge, Massachusetts, Atea operates research laboratories in the Greater Boston area and conducts clinical studies across North America, Europe and parts of Asia.