Allovir’s Vikas Sinha Sells $430 Stock By Investing.com

Vikas Sinha, President, CFO and Chief Executive Officer of Allovir, Inc., sold… (NASDAQ:ALVR), 979 shares of common stock, according to a recent Securities and Exchange Commission filing. The deal comes as the company’s stock trades near its 52-week low of $0.40, having fallen more than 45% in the past six months. The shares were sold at a weighted average price of approximately $0.4401, corresponding to a total transaction value of $430. These sales were made to cover tax withholding obligations related to the grant of restricted stock units, as stated in the filing. Following this transaction, Sinha directly owns 1,139,915 shares. In addition, he has an indirect interest in 16,674,766 shares owned by ElevateBio LLC, where he serves as a director and CFO. according to InvestingPro Analysis The stock currently appears undervalued, with additional insights available to subscribers.

In other recent news, AlloVir, Inc. Big changes. The company announced a reverse stock split, effective January 16, of one-for-twenty-three, a decision approved by shareholders at a recent meeting. This strategic move precedes the proposed merger with Kalaris Therapeutics, Inc., as detailed in filings with the Securities and Exchange Commission.

In addition to the reverse stock split, AlloVir has seen a leadership shift. The company welcomed Vikas Sinha as the new CEO, following the departure of previous CEO Diana Brainard. Sinha, who has over two decades of experience in the life sciences industry, assumes this role during this crucial period.

Despite these changes, AlloVir still faces profitability challenges, as noted by InvestingPro. However, the company maintains a strong liquidity position with more cash than debt on its balance sheet. With analyst price targets at $1.50 and the next earnings report scheduled for February 12, it will be interesting to monitor the company’s performance in the coming period.

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