Our Stock of the Week is AlloVir (ALVR). ALVR describes itself as the global leader in developing virus-specific T cell (VST) therapies to treat life-threatening viral diseases. Recently an analyst at Piper stated that he believes the company is on track to announce Phase 2 data at a medical conference before the end of the year.
“In the first half of 2022, AlloVir made great progress advancing our pipeline of off-the-shelf, multi-virus specific T cell therapies, especially with our lead candidate, posoleucel. The preliminary Phase 2 multi-virus prevention data have strengthened awareness of the transformational potential of posoleucel as preemptive or prophylactic therapy for viral infections post allo-HCT and have facilitated engagement in our Phase 3 program with leading international transplant centers,” said Diana Brainard, CEO, AlloVir. “In addition, we are excited to have the strong support of our investors who recently provided additional capital to enable the completion, data readouts and global regulatory submissions for all three ongoing Phase 3 registrational trials of posoleucel. We believe their investment demonstrates a strong affirmation of our science and ability to execute our plans to deliver this potentially transformative therapy to immunocompromised patients in need.”
The most recent reiteration for the stock is from Morgan Stanley, which set a $27 target last month.
What we like best about ALVR at this point is the attractive chart. It has a cup-with-handle pattern and has been showing very good relative strength in a terrible market. We are looking for a breakout through the $9 level to attract interest. As always, we would not chase the stock on Monday morning but will look to aggressively trade it as it develops.
This post is for educational purposes only! This is not advice or a recommendation. We do not give investment advice. Do not act on this post. Do not buy, sell, or trade the stocks mentioned herein. We WILL actively trade this stock differently than discussed herein. We will sell into strength and will buy or sell at any time for any reason. We will actively trade into any unusual activity. At the time of this post, principals, employees, and affiliates of Shark Investing, Inc. and/or principals, clients, employees, and affiliates of Hammerhead Financial Strategies, LLC, directly or indirectly, controlled investment and/or trading accounts containing no positions in ALVR To accommodate the objectives of these investing and/or trading accounts, the trading in these shares will be contrary to and/or inconsistent with the information contained in this posting.
