Allovir, Inc.'s (NASDAQ:ALVR) Chief Accounting Officer, Brett R. Hagen, recently sold shares of the company's common stock in a transaction to cover tax withholding obligations related to the vesting of restricted stock units. The sale, which was automatic and not at the discretion of Hagen, involved a total of 1,597 shares at a weighted average price of $0.796 per share, resulting in a total transaction value of approximately $1,271.
The shares were sold on May 3, 2024, and the sale was reported in a Form 4 filing with the Securities and Exchange Commission on May 7, 2024. According to the filing, the shares were sold in multiple transactions at prices ranging from $0.7801 to $0.8098. Following the transaction, Hagen retained ownership of 76,022 shares of Allovir, Inc.
Allovir, a company specializing in biological products, is incorporated in Delaware and has its business address in Waltham, Massachusetts. The company, formerly known as ViraCyte, Inc., has been in the spotlight for its developments in the life sciences sector.
Investors often monitor insider transactions like these for insights into executive confidence and company performance. The transaction by Hagen is part of the routine financial management related to equity compensation and is not necessarily indicative of the company's future prospects.
InvestingPro Insights
As Allovir, Inc. (NASDAQ:ALVR) navigates the complexities of the life sciences sector, recent insider transactions have caught the attention of investors seeking to gauge executive confidence and company health. In addition to these transactions, several key metrics and analyst insights from InvestingPro provide a more comprehensive picture of Allovir's financial landscape.
Despite a challenging period, Allovir has maintained a balance sheet with more cash than debt, which could be a sign of prudent financial management. This is complemented by the fact that the company's liquid assets surpass its short-term obligations, suggesting a degree of financial flexibility in the near term. These points are highlighted as InvestingPro Tips, which further delve into the company's ability to manage its immediate financial commitments.
On the performance front, Allovir's market capitalization stands at $88.91 million, reflecting the market's current valuation of the company. The stock has experienced significant volatility with a 19.98% return over the last three months, yet faced a steep decline of 52.0% over the last six months. Year-to-date, the stock has seen an 18.62% total return, indicating some recovery, although it remains down 81.71% over the past year. These InvestingPro Data metrics offer investors a snapshot of the stock's recent performance trends.
Analysts tracking Allovir have revised their earnings estimates upwards for the upcoming period, which may signal a positive outlook on the company's future earnings potential. However, it is important to note that analysts do not expect the company to be profitable this year, as reflected in the negative P/E ratio of -0.43. Allovir's gross profit margins have also been identified as weak, which could be a concern for profitability moving forward.
For those seeking a more in-depth analysis, there are additional InvestingPro Tips available on the platform, which can be accessed by visiting https://www.investing.com/pro/ALVR. Readers interested in exploring these insights can use the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking a total of 10 additional InvestingPro Tips for Allovir, Inc.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.