AlloVir, Inc. (NASDAQ:ALVR) Sees Large Growth in Short Interest

Posted by Defense World Staff on Oct 5th, 2023

AlloVir, Inc. (NASDAQ:ALVR – Get Free Report) saw a large growth in short interest in the month of September. As of September 15th, there was short interest totalling 8,900,000 shares, a growth of 7.1% from the August 31st total of 8,310,000 shares. Based on an average daily trading volume, of 874,400 shares, the days-to-cover ratio is presently 10.2 days.

AlloVir Price Performance

NASDAQ:ALVR opened at $2.05 on Thursday. The firm has a market capitalization of $233.43 million, a price-to-earnings ratio of -1.15 and a beta of 0.79. AlloVir has a twelve month low of $1.90 and a twelve month high of $10.29. The stock’s 50 day moving average price is $2.77 and its two-hundred day moving average price is $3.57.

AlloVir (NASDAQ:ALVR – Get Free Report) last posted its quarterly earnings results on Thursday, August 3rd. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.45) by ($0.03). As a group, analysts anticipate that AlloVir will post -1.73 earnings per share for the current year.

Insider Transactions at AlloVir

In other news, CEO Diana Brainard sold 8,342 shares of AlloVir stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $3.56, for a total transaction of $29,697.52. Following the transaction, the chief executive officer now owns 907,299 shares in the company, valued at approximately $3,229,984.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Vikas Sinha sold 10,516 shares of AlloVir stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $2.50, for a total transaction of $26,290.00. Following the transaction, the insider now owns 1,173,701 shares in the company, valued at approximately $2,934,252.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Diana Brainard sold 8,342 shares of AlloVir stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $3.56, for a total value of $29,697.52. Following the transaction, the chief executive officer now owns 907,299 shares in the company, valued at approximately $3,229,984.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,412 shares of company stock worth $94,005. 39.97% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System increased its position in shares of AlloVir by 21.9% during the 2nd quarter. California State Teachers Retirement System now owns 63,843 shares of the company’s stock worth $217,000 after purchasing an additional 11,449 shares during the last quarter. Nuveen Asset Management LLC increased its holdings in shares of AlloVir by 9.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 164,173 shares of the company’s stock worth $558,000 after acquiring an additional 13,817 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of AlloVir by 35.5% during the 2nd quarter. Alliancebernstein L.P. now owns 60,310 shares of the company’s stock worth $205,000 after acquiring an additional 15,810 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of AlloVir by 178.1% during the 2nd quarter. Wells Fargo & Company MN now owns 16,196 shares of the company’s stock worth $55,000 after acquiring an additional 10,372 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of AlloVir by 329.2% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 202,992 shares of the company’s stock worth $690,000 after acquiring an additional 155,699 shares during the last quarter. Institutional investors and hedge funds own 47.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ALVR shares. Morgan Stanley restated an “overweight” rating and issued a $20.00 target price on shares of AlloVir in a research note on Monday, August 7th. Bank of America started coverage on AlloVir in a research note on Friday, August 18th. They issued a “buy” rating and a $17.00 target price on the stock.

Get Our Latest Stock Report on ALVR

AlloVir Company Profile

(Get Free Report)

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.