Allovir, Inc. (NASDAQ:ALVR) Chief Executive Officer Diana Brainard has sold a total of 10,240 shares of the company's common stock, according to the latest SEC filings. The transactions, which occurred on May 3, 2024, resulted in proceeds of over $8,000 for Brainard.
The shares were sold at a weighted average price of $0.796, with individual transactions ranging from $0.7801 to $0.8098 per share. The sale was part of an automatic process to cover tax withholding obligations related to the vesting of restricted stock units, as stated in the footnotes of the SEC filing. Such sales are often required and are not at the discretion of the reporting person.
Following the sale, Brainard still holds a significant amount of Allovir stock, with 792,695 shares remaining in her possession. The sale represents a small fraction of her total holdings in the company, which specializes in biological products.
Investors and followers of Allovir, Inc. can find more detailed information about the transactions upon request to the SEC staff, as the full data regarding the number of shares sold at each separate price is available.
The filing was signed by Brett Hagen, as Attorney-in-Fact, and was submitted on May 7, 2024.
InvestingPro Insights
Amidst the recent news of Allovir, Inc. (NASDAQ:ALVR) CEO Diana Brainard's stock sale, current and potential investors may be seeking additional context to understand the company's financial health and market performance. Here are some key insights based on real-time data from InvestingPro:
- The company holds a market capitalization of $88.91 million, which provides a sense of its size and market value.
- Allovir's price-to-book ratio, as of the last twelve months ending Q4 2023, stands at 0.61, suggesting the stock may be undervalued relative to the company's assets.
- Despite a challenging year, Allovir has shown resilience with a strong return of 19.98% over the last three months.
Investors should note that Allovir currently does not pay a dividend, which could be a consideration for those seeking regular income from their investments. Additionally, the company's stock has experienced a significant fall of 81.71% over the last year, indicating potential volatility or market concerns about the company's future performance.
For those looking to dive deeper into the company's prospects, there are several InvestingPro Tips to consider:
- Allovir's balance sheet reflects a positive cash position, with more cash than debt, which could provide financial stability in uncertain times.
- Analysts have revised their earnings estimates upwards for the upcoming period, suggesting an optimistic outlook on the company's earning potential.
InvestingPro offers additional insights and tips for Allovir, including 9 more tips that could further inform your investment decisions. To explore these and gain a comprehensive understanding of Allovir's investment profile, visit https://www.investing.com/pro/ALVR. Take advantage of our special offer by using the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
With the next earnings date scheduled for May 7, 2024, investors will be watching closely to see if Allovir can meet or exceed expectations and potentially turn around the negative trend seen in the past year. The InvestingPro platform can provide valuable real-time analysis and data to help investors stay informed and make educated decisions.
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