Allovir, Inc. (NASDAQ:ALVR) CEO Diana Brainard recently sold 9,752 shares of the company's common stock, according to a regulatory filing made on October 23, 2024. The shares were sold at a weighted average price of $0.779 per share, totaling approximately $7,596. The transaction was executed on October 21, 2024, to cover tax withholding obligations related to the vesting of restricted stock units. Following this sale, Brainard holds 742,678 shares directly.
InvestingPro Insights
As Allovir's CEO Diana Brainard sells shares to cover tax obligations, investors might be interested in a deeper look at the company's financial health. According to InvestingPro data, Allovir's market capitalization stands at $88.39 million, reflecting its current valuation in the biotech sector.
Two key InvestingPro Tips shed light on Allovir's financial position. First, the company holds more cash than debt on its balance sheet, which could provide financial flexibility in its research and development efforts. Additionally, Allovir's liquid assets exceed its short-term obligations, suggesting a solid near-term financial footing despite the challenges typical of pre-profit biotech firms.
However, it's worth noting that Allovir is not currently profitable, with a negative P/E ratio of -0.73 over the last twelve months as of Q2 2024. This aligns with another InvestingPro Tip indicating that analysts do not anticipate the company to be profitable this year. The biotech firm's journey towards profitability is further reflected in its operating income, which stands at -$120.89 million for the same period.
For investors seeking a more comprehensive analysis, InvestingPro offers 6 additional tips that could provide valuable insights into Allovir's prospects and challenges. These additional tips, available with an InvestingPro subscription, could help investors make more informed decisions about the company's potential in the volatile biotech sector.
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