Shares of Alvotech (NASDAQ:ALVO - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 197,269 shares changed hands during mid-day trading, an increase of 33% from the previous session's volume of 147,825 shares.The stock last traded at $8.86 and had previously closed at $8.90.
Alvotech Price Performance
The stock's 50-day moving average price is $9.77 and its 200-day moving average price is $10.65. The company has a market cap of $2.63 billion, a P/E ratio of 23.55 and a beta of 0.11.
Alvotech (NASDAQ:ALVO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of ($0.17) by $0.52. Alvotech had a negative return on equity of 36.37% and a net margin of 16.42%. As a group, analysts expect that Alvotech will post -0.07 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets acquired a new position in shares of Alvotech in the fourth quarter valued at approximately $66,000. GF Fund Management CO. LTD. bought a new stake in Alvotech in the fourth quarter valued at approximately $74,000. Wolverine Asset Management LLC boosted its holdings in Alvotech by 24.7% in the first quarter. Wolverine Asset Management LLC now owns 9,286 shares of the company's stock valued at $90,000 after acquiring an additional 1,838 shares during the last quarter. Invesco Ltd. bought a new stake in Alvotech in the fourth quarter valued at approximately $148,000. Finally, ProShare Advisors LLC bought a new stake in Alvotech in the fourth quarter valued at approximately $167,000.
Alvotech Company Profile
(
Get Free Report)
Alvotech, through its subsidiaries, develops and manufactures biosimilar medicines for patients worldwide. It offers biosimilar products in the therapeutic areas of autoimmune, eye, and bone disorders, as well as cancer. The company's lead program is AVT02, a high concentration formulation biosimilar to Humira to treat various inflammatory conditions, including rheumatoid arthritis, psoriatic arthritis, Crohn's disease, ulcerative colitis, plaque psoriasis, and other indications; AVT04, a biosimilar to Stelara to treat various inflammatory conditions comprising psoriatic arthritis, Crohn's disease, ulcerative colitis, plaque psoriasis, and other indications; AVT06, a biosimilar to Eylea to treat various conditions, such as age-related macular degeneration, macular edema, and diabetic retinopathy; and AVT03, a biosimilar to Xgeva and Prolia, which is in the pre-clinical phase to treat prevent bone fracture, spinal cord compression, and the need for radiation or bone surgery in patients with certain types of cancer, as well as prevent bone loss and increase bone mass.
Further Reading
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