Down -72.39% in 4 Weeks, Here's Why You Should You Buy the Dip in AlloVir, Inc. (ALVR)

Core Viewpoint - AlloVir, Inc. (ALVR) has experienced a significant decline of 72.4% in its stock price over the past four weeks, but it is now in oversold territory, suggesting a potential turnaround due to improved earnings expectations from analysts [1]. Group 1: Stock Performance and Technical Indicators - The stock has been under heavy selling pressure, leading to an RSI reading of 28.82, indicating it may be oversold and could bounce back towards its previous equilibrium [4]. - The Relative Strength Index (RSI) is a momentum oscillator that helps identify oversold stocks, with a reading below 30 typically indicating oversold conditions [2]. Group 2: Earnings Estimates and Analyst Consensus - There is a strong consensus among sell-side analysts that ALVR will report better earnings than previously predicted, with a 59.1% increase in the consensus EPS estimate over the last 30 days [4]. - ALVR holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, indicating a favorable outlook for a potential turnaround [5].