In a recent transaction, Edward Miller, General Counsel of Allovir, Inc. (NASDAQ:ALVR), sold shares in the company. The transaction, which occurred on April 2, 2024, involved the sale of 368 shares of common stock at an average price of $0.772 per share, amounting to a total value of $284.
The shares were sold at prices ranging from $0.7513 to $0.7801, as indicated in the filings. This sale was part of an automatic process to cover tax withholding obligations associated with the vesting of restricted stock units. It is important to note that these sales were not at the discretion of the reporting person, Edward Miller.
Following the transaction, Miller still holds a substantial amount of Allovir stock directly, with 224,610 shares remaining in his possession. In addition to his direct holdings, the filings also mention an indirect holding of 288,799 shares through The Miller Family 2019 Irrevocable Dynasty Trust. However, Miller disclaims beneficial ownership of these shares, except to the extent of his pecuniary interest.
Investors and followers of Allovir, Inc. often keep an eye on insider transactions as they can provide insights into the company's performance and the confidence level of its executives and directors. The recent sale by Allovir's General Counsel is just one of the many transactions that shareholders may consider when evaluating their investment in the company.
InvestingPro Insights
Allovir, Inc. (NASDAQ:ALVR) has recently been under the spotlight due to insider transactions, revealing a broader financial landscape that investors may find crucial for their assessments. According to real-time data from InvestingPro, Allovir's Market Cap stands at a modest $84.83M, reflecting the company's current valuation in the market. Furthermore, the company's P/E Ratio (Adjusted) for the last twelve months as of Q4 2023 is at -0.48, indicating that investors are dealing with a company that is not currently generating profits relative to its share price. The Price/Book ratio for the same period is at 0.58, which could be of interest to value investors looking for potential undervaluation based on assets.
Turning to the InvestingPro Tips, two noteworthy points stand out for Allovir. Firstly, the company holds more cash than debt on its balance sheet, which may provide some degree of financial stability or flexibility. Secondly, Allovir does not pay a dividend to shareholders, which might be a factor for income-focused investors to consider. Meanwhile, the company's stock price has fallen significantly over the last year, with a 1 Year Price Total Return as of the current date showing a decline of -79.8%. This could either signal a potential buying opportunity for contrarian investors or a red flag for those concerned about the company's future prospects.
For those looking to delve deeper into Allovir's financial health and market potential, InvestingPro offers additional tips that could further inform investment decisions. There are 7 more InvestingPro Tips available for Allovir, which can be accessed through their platform. Remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and gain comprehensive insights that could give you an edge in the market.
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