Allovir, Inc.'s (NASDAQ:ALVR) Chief Accounting Officer, Brett R. Hagen, recently sold company shares to satisfy tax withholding obligations related to the vesting of restricted stock units. According to the latest filings, the transactions were carried out on two separate dates, with a total value of approximately $715.
The stock sales took place on April 19 and April 22, with Hagen disposing of 473 and 480 shares of Allovir common stock, respectively. The shares were sold at weighted average prices, with the first batch going for $0.7506 and the second for $0.75. It's noted that these shares were sold in a range of prices from $0.7460 to $0.7562, and the sales were automatic, triggered by the vesting of restricted stock units.
Following these transactions, Hagen's ownership in the company stands at 78,099 shares after the April 19 sale and 77,619 shares subsequent to the April 22 sale. The filings emphasize that the sales were not at the discretion of the reporting person but were required to cover tax obligations.
Investors and followers of Allovir, Inc. often keep a close eye on insider transactions as they can provide insights into executives' perspectives on the company's stock value and financial health.
InvestingPro Insights
In the wake of Allovir, Inc.'s (NASDAQ:ALVR) Chief Accounting Officer's recent stock sales, a closer look at the company's financials through InvestingPro reveals several key metrics that may interest investors. Allovir's market capitalization, after adjustments, stands at $87.63 million. This valuation reflects the current market's assessment of the company's worth, which is particularly relevant for shareholders monitoring the impact of insider transactions on stock performance.
An examination of Allovir's price-to-earnings (P/E) ratio shows a negative figure of -0.43, with a slight adjustment to -0.49 when considering the last twelve months as of Q4 2023. This suggests that the company is currently not profitable based on its earnings, which could be a factor for potential investors to consider. Additionally, the price to book ratio for the same period is at 0.6, indicating that the stock is possibly undervalued in relation to the company's book value.
InvestingPro Tips highlight the importance of looking at a company's earnings performance and growth prospects. Allovir's earnings before interest, taxes, depreciation, and amortization (EBITDA) for the last twelve months as of Q4 2023 was reported at negative $180.93 million, with an EBITDA growth of -6.13%. These figures suggest that the company's profitability and growth are areas that require close scrutiny.
For those seeking further insights, InvestingPro offers additional tips on evaluating insider transactions and their implications for stock valuation and company health. With the use of the coupon code PRONEWS24, readers can get an extra 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking more valuable tips for informed investment decisions. There are currently 15 more InvestingPro Tips available for those interested in deepening their analysis of Allovir, Inc.
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