Streetbeat News

ALVR

AlloVir, Inc.

https://www.allovir.com

Industry

Biotechnology

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. Allovir, Inc. was founded in 2013 and is based in Waltham, Massachusetts.

Open

0.67

Mkt cap

71M

Volume

2.1M

High

0.75

P/E Ratio

-0.50

52-wk high

2.48

Low

0.60

Div yield

N/A

52-wk low

0.58

The Dow Jones index closed slightly lower, while the NASDAQ and S&P 500 saw modest gains. Nike reported Q2 earnings that beat expectations but missed on sales, with revenue of $13.39 billion against an expected $13.43 billion. Nike also plans to achieve up to $2 billion in cost savings over the next three years. In other news, Karuna Therapeutics will be acquired by Bristol Myers Squibb, Royalty Management's unit began production, and Daseke will be acquired by TFI International. AlloVir, Advent Technologies, and Netcapital saw their shares fall due to clinical trial updates, a stock offering, and a public offering, respectively.

Portfolio Pulse from Avi Kapoor

December 22, 2023 | 7:47 pm

AAR Corp. (NYSE:AIR) shares dropped by 7% after reporting mixed Q2 results, with sales missing and EPS beating consensus. AAR also acquired Triumph Group Inc's (NYSE:TGI) Product Support business for $725 million. Other stocks experienced significant movements, with NextPlay Technologies, Inc. (NASDAQ:NXTP) and Jin Medical International Ltd. (NASDAQ:ZJYL) among the top gainers, while AlloVir, Inc. (NASDAQ:ALVR) and Jayud Global Logistics Limited (NASDAQ:JYD) were among the biggest losers. Notably, Karuna Therapeutics, Inc. (NASDAQ:KRTX) surged after an acquisition announcement by Bristol Myers Squibb & Co (NYSE:BMY), and NIKE, Inc. (NYSE:NKE) fell after mixed earnings and a cost savings plan announcement.

Portfolio Pulse from Avi Kapoor

December 22, 2023 | 6:28 pm

During Friday's intraday session, several healthcare stocks experienced significant movements. Jin Medical International (ZJYL) saw a substantial rise of 85.2%, while Karuna Therapeutics (KRTX) increased by 47.07%. Conversely, AlloVir (ALVR) plummeted by 65.7%. Other notable movers included IMAC Hldgs (BACK), PureTech Health (PRTC), HeartBeam (BEAT), Neumora Therapeutics (NMRA), Cyclacel Pharmaceuticals (CYCC), 60 Degrees (SXTP), Nanobiotix (NBTX), Trinity Biotech (TRIB), and GRI Bio (GRI).

Portfolio Pulse from Benzinga Insights

December 22, 2023 | 5:31 pm

U.S. stocks traded higher with the Dow Jones, NASDAQ, and S&P 500 all seeing gains. Karuna Therapeutics surged 47% after an acquisition announcement by Bristol Myers Squibb. Royalty Management and Daseke also saw significant stock increases due to positive company developments. Conversely, AlloVir, Advent Technologies, and Netcapital experienced substantial drops in share prices following negative updates. Gold prices increased, while oil saw a slight uptick. Consumer sentiment in the U.S. improved slightly in December.

Portfolio Pulse from Avi Kapoor

December 22, 2023 | 5:18 pm

Leerink Partners analyst Mani Foroohar downgraded AlloVir (NASDAQ:ALVR) from Outperform to Market Perform and set a price target of $1. This represents a significant change in the firm's outlook on AlloVir's stock performance.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 4:50 pm

U.S. stocks opened higher with the Dow Jones gaining over 50 points. Energy shares led gains, while consumer discretionary shares declined. Core PCE inflation in the U.S. cooled to 3.2% year-on-year in November, below expectations. Karuna Therapeutics (KRTX) surged 47% after Bristol Myers Squibb (BMY) agreed to acquire it for $14.0 billion. Royalty Management Holding (RMCO) and NextPlay Technologies (NXTP) also saw significant gains. AlloVir (ALVR), Cyclacel Pharmaceuticals (CYCC), and Netcapital (NCPL) traded down after various updates, including clinical trial results and public offering pricing.

Portfolio Pulse from Avi Kapoor

December 22, 2023 | 2:40 pm

Piper Sandler analyst Christopher Raymond has downgraded AlloVir (NASDAQ:ALVR) from Overweight to Neutral and significantly reduced the price target from $27 to $1.5.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 2:32 pm

JP Morgan analyst Anupam Rama has downgraded AlloVir (NASDAQ:ALVR) from Overweight to Underweight, indicating a negative outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 2:29 pm

In Friday's pre-market session, several healthcare stocks experienced significant movements. Karuna Therapeutics (KRTX) saw a substantial increase of 47.9%, while AlloVir (ALVR) faced a sharp decline of 57.5%. Other notable gainers include Senti Biosciences (SNTI), SenesTech (SNES), Galecto (GLTO), TC BioPharm (TCBP), and Reviva Pharmaceuticals (RVPH). Conversely, 60 Degrees (SXTP), Nanobiotix (NBTX), DMK Pharmaceuticals (DMK), Oncternal Therapeutics (ONCT), and ThermoGenesis Holdings (THMO) were among the losers.

Portfolio Pulse from Benzinga Insights

December 22, 2023 | 1:07 pm

In Tuesday's after-market session, several healthcare stocks saw significant movement. Reshape Lifesciences (RSLS), Cognition Therapeutics (CGTX), GRI Bio (GRI), Vicarious Surgical (RBOT), AcelRx Pharmaceuticals (ACRX), and AlloVir (ALVR) all saw increases, with RSLS leading the gainers with a 30.2% rise. On the other hand, Tharimmune (THAR), Biocept (BIOC), Sonnet BioTherapeutics (SONN), Motus GI Hldgs (MOTS), IO Biotech (IOBT), and Titan Pharma (TTNP) all experienced declines, with THAR leading the losers with a 20.6% drop.

Portfolio Pulse from Benzinga Insights

October 24, 2023 | 9:31 pm

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