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CAMBRIDGE, MA—Brett R. Hagen, the Chief Accounting Officer of Allovir, Inc. (NASDAQ:ALVR), has recently sold a portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Hagen sold 96 shares of common stock on February 21, 2025. The shares were sold at a weighted average price of $10.0758, resulting in a total transaction value of $967. The transaction comes as Allovir’s stock trades approximately 58% below its 52-week high of $24.15, with a current market capitalization of $52.25 million.
The sale was conducted to cover tax withholding obligations related to the vesting of restricted stock units, as indicated in the filing. Following this transaction, Hagen retains ownership of 2,832 shares in Allovir. According to InvestingPro analysis, the company maintains strong liquidity with a current ratio of 86.78, and analysts have set a target price of $34.50 for the stock. Want deeper insights into insider trading patterns and company financials? InvestingPro offers exclusive access to detailed insider transaction analysis and 6 additional key insights about Allovir.
Allovir, a company specializing in biological products, is headquartered in Waltham, MA. The company holds more cash than debt on its balance sheet, though it currently operates at a loss with negative earnings per share of $20.07 over the last twelve months.
In other recent news, AlloVir, Inc. has completed a reverse stock split at a 1-for-23 ratio, an action that consolidates every twenty-three shares of common stock into one share. This move, approved by the company’s Board of Directors and stockholders, is part of AlloVir’s strategy leading up to a proposed merger with Kalaris Therapeutics, Inc. The reverse stock split, effective as of January 15, 2025, aims to potentially improve the marketability of AlloVir’s shares and ensure compliance with Nasdaq’s listing requirements. Additionally, AlloVir has recently experienced a leadership change, with Vikas Sinha appointed as the new CEO following the departure of Diana Brainard, MD. Dr. Brainard’s exit comes with a substantial severance package, including a completion bonus related to the proposed merger. The company has filed relevant materials with the SEC regarding both the reverse stock split and the merger, urging investors to review these documents for detailed information. The recent developments at AlloVir reflect significant strategic and leadership transitions as the company navigates its future path.
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