AlloVir, Inc. (NASDAQ:ALVR) experienced a significant increase in short interest during the month of August. According to reports, as of August 31st, there were 8,310,000 shares being shorted, representing a growth of 7.6% from the previous total of 7,720,000 shares on August 15th. This surge in short interest has resulted in a current short-interest ratio of 9.6 days, considering an average daily trading volume of 868,900 shares.
At the opening bell on Tuesday, AlloVir’s stock began trading at $2.15 per share. Over the past twelve months, the stock has seen fluctuations between its low of $2.10 and its high of $10.29. With a market capitalization of $244.82 million and a P/E ratio of -1.20, AlloVir operates with a beta value of 0.65 as well. The company’s fifty-day moving average price is $3.07 per share and its two-hundred-day moving average price stands at $3.81 per share.
Interestingly, various hedge funds and institutional investors have either increased or decreased their stakes in ALVR recently. Wasatch Advisors LP witnessed a significant rise in its position by 427.3% during the second quarter after purchasing an additional 5,384,194 shares to now own a total of 6,644,113 shares valued at approximately $22,590,000. Meanwhile, Artal Group S.A.’s position in AlloVir grew by 18.3% during the same period with an additional purchase of 1,020,000 shares bringing their total stake to 6,597,167 shares valued at around $22,430,
In addition to that Vanguard Group Inc., one of the leading investment management companies boasting over $8 trillion worth of managed assets, raised its position in AlloVir by 42.1% during the third quarter by purchasing an additional 863,190 shares to now hold a total of 2,911,200 shares valued at approximately $22,969,000. Maven Securities LTD also joined the list by acquiring a new position in AlloVir valued at about $2,501,000 during the second quarter. Finally, Woodline Partners LP saw a significant increase of 72.8% in its position in the company during the second quarter after purchasing an additional 728,002 shares to now own 1,728,002 shares valued at around $5,875.
Research analysts have been observing AlloVir’s performance closely and issuing reports accordingly. Bank of America initiated coverage on the company on Friday, August 18th, providing a “buy” rating along with a price objective of $17.00 per share. Morgan Stanley has also expressed their positive outlook on AlloVir’s future prospects by restating an “overweight” rating and assigning it a price target of $20.00 per share on Monday, August 7th.
In conclusion, AlloVir has experienced significant growth in short interest during August while seeing its stock open at $2.15 per share on September 19th. Despite facing various market fluctuations over the past year and having companies like Wasatch Advisors LP and Artal Group S.A increasing their stakes in the company, several equities research analysts remain optimistic about AlloVir’s performance and offer favorable ratings and price objectives to investors.
Companhia de Saneamento Básico do Estado de São Paulo - SABESP
SBS
Strong Buy
Updated on: 19/09/2023
Financial Health
Very Healthy
Debt to equity ratio: Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
AlloVir’s Disappointing Earnings Report Raises Questions for Investors
On September 19, 2023, &AlloVir (NASDAQ:ALVR) released its latest earnings report, which revealed that the company reported earnings per share of ($0.48) for the quarter. This result fell short of analysts’ consensus estimates of ($0.45), marking a difference of ($0.03). Analysts expect AlloVir to post -1.73 EPS for the current year.
The market reaction to this news has been met with a mixture of curiosity and uncertainty. It is not uncommon for companies to miss earnings expectations, but the degree to which AlloVir fell short certainly raises eyebrows. Investors are left wondering about the factors that contributed to this shortfall and what it means for the company’s future financial performance.
Institutional investors have also made moves in response to these earnings figures. Hedge funds and other institutional investors have either increased or reduced their stakes in ALVR. For instance, Wasatch Advisors LP raised its position in AlloVir by a whopping 427.3% during the second quarter, now owning 6,644,113 shares valued at $22,590,000 after purchasing an additional 5,384,194 shares during that period.
Similarly, Artal Group S.A. raised its position in AlloVir by 18.3% during the same quarter by acquiring an additional 1,020,000 shares bringing their total ownership to 6,597,167 valued at $22,430,000. Vanguard Group Inc., on the other hand, increased its stake by buying an additional 863,190 shares during Q3 establishing its ownership at 2,911,200 valued at $22,969,000.
Furthermore,Maven Securities LTD also purchased a new position in AlloVir during Q2 estimated at around $2,501 million while Woodline Partners LP raised its position significantly by acquiring an additional 728002 shares, representing 72.8% increase in their stake.
It is worth noting that institutional investors and hedge funds together own 47.41% of the company’s stock, which further highlights the level of interest and involvement from such entities in AlloVir’s future prospects.
In addition to the institutional moves, there have been notable transactions involving major shareholder Gilead Sciences, Inc. For instance, Gilead Sciences acquired 2,930,870 shares of AlloVir’s stock on June 27th at an average cost of $3.75 per share, amounting to a total value of $10,990,762.50. This brings Gilead Sciences’ ownership stake to approximately 16,635,286 shares valued at about $62,382,322.50.
The acquisition was disclosed via a filing with the Securities & Exchange Commission (SEC), underscoring the transparency surrounding this transaction. Meanwhile, AlloVir’s CEO Diana Brainard sold 8,342 shares of the company’s stock on July 19th at an average price of $3.56 per share for a total transaction value of $29,697.52.
These insider activities provide additional context to AlloVir’s recent developments and shed light on the actions taken by key figures within the company itself.
Overall, these series of events create some intrigue in the financial markets and among industry watchers regarding AlloVir’s performance and its implications for prospective investors. The seemingly perplexing earnings report coupled with substantial institutional moves and insider transactions contribute to a sense of bustiness surrounding the company.
Investors will be waiting eagerly for more information and clarity regarding AlloVir’s strategies moving forward as they seek answers to questions about its financial outlook given these recent developments.
Discussion about this post