AlloVir (NASDAQ:ALVR) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of AlloVir (NASDAQ:ALVR) from a hold rating to a buy rating in a research note issued to investors on Wednesday, Zacks.com reports. They currently have $12.00 price objective on the stock.

According to Zacks, “AlloVir, Inc. is a late clinical-stage cell therapy company which focus on restoring natural immunity against life-threatening viral diseases. AlloVir, Inc. is based in CAMBRIDGE, Mass. “

Other equities research analysts have also issued reports about the stock. Morgan Stanley boosted their price objective on shares of AlloVir from $47.00 to $48.00 and gave the stock an overweight rating in a report on Tuesday, October 12th. SVB Leerink lowered their price objective on shares of AlloVir from $37.00 to $32.00 and set an outperform rating for the company in a report on Friday, December 17th.

Shares of AlloVir stock opened at $10.40 on Wednesday. AlloVir has a 1 year low of $9.92 and a 1 year high of $47.00. The company has a 50 day simple moving average of $16.54 and a two-hundred day simple moving average of $19.27.

AlloVir (NASDAQ:ALVR) last announced its earnings results on Friday, November 5th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by ($0.13). Equities research analysts predict that AlloVir will post -2.64 earnings per share for the current fiscal year.

In related news, insider Ann M. Leen sold 14,766 shares of AlloVir stock in a transaction on Friday, November 12th. The shares were sold at an average price of $22.30, for a total value of $329,281.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Ercem Atillasoy sold 1,514 shares of AlloVir stock in a transaction on Thursday, October 21st. The stock was sold at an average price of $24.23, for a total transaction of $36,684.22. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,667 shares of company stock valued at $1,052,400. Company insiders own 55.12% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Great West Life Assurance Co. Can increased its stake in shares of AlloVir by 115.0% in the second quarter. Great West Life Assurance Co. Can now owns 1,972 shares of the company’s stock worth $39,000 after buying an additional 1,055 shares during the period. Nisa Investment Advisors LLC increased its position in AlloVir by 350.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 4,500 shares of the company’s stock valued at $113,000 after purchasing an additional 3,500 shares during the period. Dark Forest Capital Management LP purchased a new position in AlloVir during the 3rd quarter valued at $122,000. Legal & General Group Plc increased its position in AlloVir by 41.5% during the 2nd quarter. Legal & General Group Plc now owns 5,429 shares of the company’s stock valued at $107,000 after purchasing an additional 1,591 shares during the period. Finally, Metropolitan Life Insurance Co NY increased its position in AlloVir by 108,000.0% during the 2nd quarter. Metropolitan Life Insurance Co NY now owns 9,729 shares of the company’s stock valued at $192,000 after purchasing an additional 9,720 shares during the period. 39.06% of the stock is currently owned by institutional investors.

AlloVir Company Profile

Allovir, Inc, a clinical-stage cell therapy company, engages in the research and development of allogeneic, off-the-shelf multi-virus specific T cell (VST) therapies to prevent and treat devastating viral-associated diseases. The company's lead product is Viralym-M, an allogeneic, off-the-shelf VST therapy, to treat BK virus, cytomegalovirus, adenovirus, Epstein-Barr virus, and human herpesvirus 6.

Read More: Stock Ratings and Recommendations: Understanding Analyst Upgrades and Downgrades

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