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Allovir's chief accounting officer Brett Hagen sells $746 in stock

Published 23/10/2024, 21:20
ALVR
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Brett R. Hagen, the Chief Accounting Officer of Allovir, Inc. (NASDAQ:ALVR), recently reported selling shares of the company's common stock. According to the SEC filing, Hagen sold a total of 965 shares over two days. On October 21, 479 shares were sold at a weighted average price of $0.779, and on October 22, 486 shares were sold at a weighted average price of $0.7678. The total value of these transactions amounted to $746.

These sales were executed to cover tax withholding obligations related to the vesting of restricted stock units and were automatic, not at Hagen's discretion. Following these transactions, Hagen retains ownership of 70,715 shares of Allovir stock.

InvestingPro Insights

While Brett R. Hagen's recent stock sale was relatively small and automatic, it's worth considering Allovir's broader financial picture. According to InvestingPro data, Allovir (NASDAQ:ALVR) currently has a market capitalization of $88.39 million, reflecting its status as a small-cap biotech company.

Two key InvestingPro Tips shed light on Allovir's financial health. First, the company holds more cash than debt on its balance sheet, which is often seen as a positive indicator for biotech firms that require significant capital for research and development. This cash cushion could provide some financial flexibility as the company pursues its clinical programs.

On the other hand, another InvestingPro Tip notes that Allovir is not profitable over the last twelve months. This is not uncommon for early-stage biotech companies, but it underscores the importance of the company's cash position and its ability to fund ongoing operations and clinical trials.

The company's Price to Book ratio stands at 0.72, suggesting that the stock is trading below its book value. This could indicate that the market is undervaluing Allovir's assets, or it may reflect investor concerns about the company's future prospects.

It's worth noting that InvestingPro has additional tips available for Allovir, which could provide further insights into the company's financial situation and market position. Investors interested in a more comprehensive analysis may want to explore these additional tips on the InvestingPro platform.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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