Allovir, Inc. (NASDAQ:ALVR) CEO Diana Brainard has sold a portion of her company stock, generating over $7,200 in a series of transactions. The sales were conducted to fulfill tax withholding obligations related to the vesting of restricted stock units, according to the company's latest SEC filing.
On April 19, Brainard sold 9,601 shares of Allovir's common stock at a weighted average price of $0.7506 per share. These shares were sold at varying prices ranging from $0.7460 to $0.7562. The transactions were not based on the discretion of Brainard but were automatic sales required to cover the tax liabilities associated with her vested restricted stock units.
Following the sale, the CEO still retains a substantial stake in the biotechnology firm, with 802,935 shares remaining in her possession. Allovir specializes in biological products and is incorporated in Delaware, with its business operations based in Waltham, Massachusetts.
Investors and followers of Allovir's executive transactions can access full details of the specific prices at which the shares were sold upon request to the SEC staff. The disclosed transaction is a routine financial activity often undertaken by company insiders to manage tax implications related to the vesting of equity awards.
InvestingPro Insights
Allovir, Inc. (NASDAQ:ALVR) has recently seen significant activity from its executives, reflecting in the company's stock transactions. While these movements are a routine part of executive compensation, investors keeping an eye on Allovir may also be interested in the company's financial health and market performance. Here are some key insights from InvestingPro that shed light on Allovir's current financial position and stock performance:
InvestingPro data indicates that Allovir has a market capitalization of $88.28 million, highlighting its size in the biotechnology sector. The company's Price to Earnings (P/E) Ratio stands at -0.43, with an adjusted P/E ratio for the last twelve months as of Q4 2023 at -0.5, suggesting that the company is not currently profitable. Additionally, Allovir's Price to Book ratio for the same period is 0.61, which can offer investors insight into the company's valuation relative to its net assets.
InvestingPro Tips for Allovir reveal a mixed financial outlook. On one hand, the company holds more cash than debt on its balance sheet, and liquid assets exceed short-term obligations, which could be seen as signs of financial stability. On the other hand, analysts do not anticipate Allovir to be profitable this year, and the company has suffered from weak gross profit margins. Moreover, the stock price has experienced a significant decline over the past year, with a 1-year price total return of -80.18% as of the most recent data.
For those looking to delve deeper into Allovir's financial metrics and stock performance, InvestingPro offers a comprehensive suite of additional tips. There are currently 9 InvestingPro Tips available for Allovir, which can provide valuable analysis for investors considering this stock. To explore these tips further, visit https://www.investing.com/pro/ALVR and remember to use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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