AlloVir (NASDAQ:ALVR) Trading Down 1.2% – Here’s Why

AlloVir, Inc. (NASDAQ:ALVR) fell 1.2% on Wednesday . The company traded as low as $0.49 and last traded at $0.51. 460,323 shares traded hands during mid-day trading, a decline of 23% from the average session volume of 600,335 shares. The stock had previously closed at $0.51.

AlloVir Stock Down 2.2 %

The firm has a market capitalization of $52.01 million, a price-to-earnings ratio of -0.51 and a beta of 0.59. The company has a fifty day moving average price of $0.69 and a two-hundred day moving average price of $0.74.

AlloVir (NASDAQ:ALVR) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.10.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its stake in shares of AlloVir by 127.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 97,986 shares of the company’s stock worth $74,000 after purchasing an additional 54,900 shares during the last quarter. Cubist Systematic Strategies LLC raised its position in AlloVir by 152.3% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 49,816 shares of the company’s stock worth $36,000 after buying an additional 30,072 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of AlloVir in the 2nd quarter worth $55,000. 66.05% of the stock is currently owned by hedge funds and other 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 posoleucel, an allogeneic, off-the-shelf VST therapy, to treat BK virus, cytomegalovirus, adenovirus, Epstein-Barr virus, human herpesvirus 6, and JC virus.