AlloVir (NASDAQ:ALVR) Releases Earnings Results, Beats Estimates By $0.04 EPS

AlloVir (NASDAQ:ALVR – Get Rating) released its quarterly earnings results on Thursday. The company reported ($0.69) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.04, Fidelity Earnings reports.

AlloVir Stock Performance

NASDAQ ALVR opened at $7.76 on Friday. The company has a market capitalization of $507.66 million, a PE ratio of -2.57 and a beta of 1.62. The business’s fifty day moving average is $4.50 and its 200 day moving average is $5.97. AlloVir has a fifty-two week low of $3.17 and a fifty-two week high of $26.41.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Piper Sandler dropped their price target on AlloVir from $55.00 to $34.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 18th. SVB Leerink dropped their price target on AlloVir from $30.00 to $23.00 and set an “outperform” rating on the stock in a research note on Thursday, July 28th.

Insider Activity at AlloVir

In related news, insider Beek Jeroen B. Van sold 15,262 shares of AlloVir stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $4.40, for a total transaction of $67,152.80. Following the transaction, the insider now directly owns 389,526 shares in the company, valued at $1,713,914.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other AlloVir news, CEO Diana Brainard sold 29,135 shares of the firm’s stock in a transaction dated Wednesday, May 18th. The stock was sold at an average price of $4.33, for a total transaction of $126,154.55. Following the sale, the chief executive officer now directly owns 492,165 shares of the company’s stock, valued at $2,131,074.45. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Beek Jeroen B. Van sold 15,262 shares of the firm’s stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $4.40, for a total value of $67,152.80. Following the sale, the insider now directly owns 389,526 shares in the company, valued at $1,713,914.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,571 shares of company stock worth $225,167. Corporate insiders own 54.22% of the company’s stock.

Institutional Investors Weigh In On AlloVir

Institutional investors and hedge funds have recently bought and sold shares of the business. Jane Street Group LLC bought a new stake in AlloVir during the first quarter valued at about $69,000. MetLife Investment Management LLC raised its holdings in AlloVir by 51.5% during the first quarter. MetLife Investment Management LLC now owns 18,052 shares of the company’s stock valued at $122,000 after acquiring an additional 6,136 shares during the period. PDT Partners LLC bought a new stake in AlloVir during the first quarter valued at about $204,000. Renaissance Technologies LLC bought a new stake in AlloVir during the first quarter valued at about $358,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of AlloVir by 43.5% in the first quarter. Dimensional Fund Advisors LP now owns 70,387 shares of the company’s stock worth $476,000 after purchasing an additional 21,337 shares during the last quarter. 38.73% of the stock is owned by institutional investors.

AlloVir Company Profile

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Allovir, Inc, a clinical-stage cell therapy company, engages in the research and development of allogeneic, off-the-shelf multi-virus specific T cell (VST) therapies to prevent and treat devastating viral-associated diseases. The company's lead product is posoleucel, an allogeneic, off-the-shelf VST therapy, to treat BK virus, cytomegalovirus, adenovirus, Epstein-Barr virus, human herpesvirus 6, and JC virus.