Profile
Sector:
HealthcareIndustry:
BiotechnologyCountry:
United StatesIPO:
30 July 2020Website:
http://www.allovir.comNext earnings report:
01 November 2024Last dividends:
N/ANext dividends:
N/APrice
after hours | Fri, 01 Nov 2024 23:10:10 GMTDividend
Analysts recommendations
Institutional Ownership
ALVR Latest News
NEW YORK, Sept. 16, 2024 (GLOBE NEWSWIRE) -- Kuehn Law, PLLC, a shareholder litigation law firm, is investigating whether certain officers and directors of AlloVir, Inc. (NASDAQ: ALVR) breached their fiduciary duties to shareholders.
Here is how AlloVir, Inc. (ALVR) and Arcutis Biotherapeutics, Inc. (ARQT) have performed compared to their sector so far this year.
AlloVir, Inc. (ALVR) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term.
AlloVir (NASDAQ: ALVR ) layoffs are in the news as the clinical-stage cell therapy company announced a massive number of job cuts. AlloVir has revealed that a new round of layoffs will have it cutting 95% of its workforce.
AlloVir Inc. ALVR, +5.02%, a developer of cell therapies intended to treat viral diseases, said Thursday that its board had approved a roughly 95% reduction to its staff, following an announcement last month that it would discontinue three clinical trials on its lead T cell therapy posoleucel. The company, in a filing, said the board approved the cuts on Jan. 1, and that the cuts were intended to “preserve capital.
Shares of AlloVir Inc. ALVR, -66.75% plummeted 66.6% toward their first-ever close below $1 on heavy volume in afternoon trading Friday, after the immunotherapy company decided to discontinue the Phase 3 trials on posoleucel, a T cell therapy targeting a number of pathogens in immunocompromised people, citing “futility.” The stock, which was the biggest decliner among those listed on major U.S. exchanges, is headed for its biggest decline since going public in July 2020.
AlloVir stock fell today given concerns over potential selling pressure from a recent lock-up expiration. The lock-up agreement was related to a new share issuance in June 2023.
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In recent Securities & Exchange Commission filings, Gilead Sciences Inc. NASDAQ: GILD revealed that it had purchased significant stakes in AlloVir Inc. NASDAQ: ALVR and Arcus Biosciences Inc. NYSE: RCUS.
What type of business is AlloVir?
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. Its preclinical and clinical development product candidates include ALVR106 for the respiratory syncytial virus, influenza, parainfluenza virus, and human metapneumovirus; ALVR109 to treat SARS-CoV-2 and COVID-19; ALVR107 for treating hepatitis B; and ALVR108. The company was formerly known as ViraCyte, Inc. and changed its name to Allovir, Inc. in May 2019. The company was incorporated in 2013 and is based in Waltham, Massachusetts.
What sector is AlloVir in?
AlloVir is in the Healthcare sector
What industry is AlloVir in?
AlloVir is in the Biotechnology industry
What country is AlloVir from?
AlloVir is headquartered in United States
When did AlloVir go public?
AlloVir initial public offering (IPO) was on 30 July 2020
What is AlloVir website?
https://www.allovir.com
Is AlloVir in the S&P 500?
No, AlloVir is not included in the S&P 500 index
Is AlloVir in the NASDAQ 100?
No, AlloVir is not included in the NASDAQ 100 index
Is AlloVir in the Dow Jones?
No, AlloVir is not included in the Dow Jones index
When was AlloVir the previous earnings report?
No data
When does AlloVir earnings report?
The next expected earnings date for AlloVir is 01 November 2024