Allovir's general counsel sells $494 in stock

Miller Edward, General Counsel at Allovir, Inc. (NASDAQ:ALVR), recently sold shares of the company's common stock, according to a filing with the Securities and Exchange Commission. The transactions, which took place on January 23, 2025, involved the sale of 52 shares with a total value of $494. The shares were sold at prices ranging from $9.4538 to $9.9402. The stock has shown recent momentum with an 8.94% gain over the past week, though it remains significantly below its 52-week high of $24.15. According to InvestingPro analysis, the stock appears undervalued at current levels.

These sales were conducted automatically to cover tax withholding obligations related to the vesting of restricted stock units, as noted in the filing. Following these transactions, Miller holds 6,623 shares directly. Additionally, 15,058 shares are held indirectly by The Miller Family 2019 Irrevocable Dynasty Trust, over which Miller disclaims beneficial ownership except for his pecuniary interest. The company maintains a strong liquidity position, with InvestingPro data showing a robust current ratio of 86.78 and more cash than debt on its balance sheet.

This update provides insight into the recent stock activity of a key executive at Allovir, a company operating in the biological products sector. Investors should note that the company is scheduled to report its next earnings on February 12, 2025. InvestingPro subscribers have access to additional insights and metrics that can help evaluate the company's potential.

In other recent news, AlloVir, Inc. has executed a reverse stock split at a 1-for-23 ratio. This decision was taken in anticipation of a proposed merger with Kalaris Therapeutics, Inc. As a result of the split, shareholders who held fractional shares will receive a cash payment equivalent to the fractional share multiplied by the closing sales price of AlloVir’s common stock.

Another major development within AlloVir is a leadership change, with Vikas Sinha taking over the role of Chief Executive Officer following the departure of former CEO, Diana Brainard. Sinha, with over two decades of experience in the life sciences industry, steps into the role during a crucial period for the company.

Despite facing profitability challenges, AlloVir maintains a strong liquidity position. The reverse stock split and leadership change are part of recent strategic initiatives aimed at addressing these challenges. According to InvestingPro analysis, AlloVir's stock appears undervalued against its Fair Value. The company's next earnings report is expected on February 12, 2025, which will provide further updates on the company's financial health.

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