Alvotech (NASDAQ:ALVO) Shares Down 6.7% - Time to Sell?

Key Points

• Alvotech shares fell 6.7% to about $3.84 in mid-day trading, with volume 82% below the average session level.
• Analyst sentiment is mixed but leans cautious: the consensus rating is Hold, with two Buy, two Hold and two Sell ratings; the consensus price target is $7.60.
• The company reported a quarterly loss of $0.09 per share on $105.9 million in revenue, alongside negative net margin and return on equity, while several institutional investors increased their positions.

Alvotech (NASDAQ:ALVO - Get Free Report) dropped 6.7% during mid-day trading on Monday . The company traded as low as $3.85 and last traded at $3.8420. Approximately 111,867 shares traded hands during trading, a decline of 82% from the average session volume of 629,706 shares. The stock had previously closed at $4.12.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Wall Street Zen lowered shares of Alvotech from a "hold" rating to a "sell" rating in a research note on Saturday, May 23rd. Weiss Ratings downgraded shares of Alvotech from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, June 9th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $7.60.

Alvotech Stock Performance

The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of -15.06 and a beta of 0.18. The company has a fifty day simple moving average of $3.57 and a two-hundred day simple moving average of $3.86.

Alvotech (NASDAQ:ALVO - Get Free Report) last released its earnings results on Tuesday, March 31st. The company reported ($0.09) earnings per share (EPS) for the quarter. Alvotech had a negative return on equity of 11.92% and a negative net margin of 14.36%.The company had revenue of $105.90 million for the quarter. As a group, equities analysts anticipate that Alvotech will post 0.05 earnings per share for the current year.

Institutional Investors Weigh In On Alvotech

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Alvotech by 2.7% in the 3rd quarter. Vanguard Group Inc. now owns 4,348,151 shares of the company's stock valued at $35,481,000 after buying an additional 114,255 shares in the last quarter. Millennium Management LLC increased its stake in Alvotech by 1,707.7% in the fourth quarter. Millennium Management LLC now owns 357,176 shares of the company's stock valued at $1,832,000 after acquiring an additional 337,417 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Alvotech by 88.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 259,536 shares of the company's stock valued at $1,331,000 after purchasing an additional 122,089 shares in the last quarter. Geode Capital Management LLC raised its position in Alvotech by 10.7% during the fourth quarter. Geode Capital Management LLC now owns 254,921 shares of the company's stock valued at $1,308,000 after purchasing an additional 24,667 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC bought a new stake in Alvotech during the second quarter worth $1,782,000.

Alvotech Company Profile

Alvotech NASDAQ: ALVO is a global biopharmaceutical company specializing in the development, manufacturing and commercialization of biosimilar medicines. The company focuses on creating high‐quality, cost‐effective alternatives to established biologic therapies in areas such as immunology, oncology and other specialty care fields. By leveraging in‐house research and a vertically integrated manufacturing platform, Alvotech aims to bring approved biosimilars to market more rapidly and with greater cost efficiency than many traditional biosimilar developers.

Since its founding in 2013, Alvotech has built a diversified pipeline of monoclonal antibody biosimilars, targeting blockbuster reference products including adalimumab (originally branded Humira), bevacizumab (Avastin) and ustekinumab (Stelara).

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