Sculptor Capital LP Has $7.73 Million Position in Alvotech (NASDAQ:ALVO)

Sculptor Capital LP trimmed its holdings in Alvotech (NASDAQ:ALVO - Free Report) by 35.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 606,170 shares of the company's stock after selling 338,928 shares during the quarter. Sculptor Capital LP owned 0.20% of Alvotech worth $7,731,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. acquired a new stake in Alvotech in the 4th quarter valued at about $748,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Alvotech in the 4th quarter valued at about $113,000. Royce & Associates LP lifted its holdings in Alvotech by 21.4% in the 4th quarter. Royce & Associates LP now owns 159,000 shares of the company's stock valued at $2,104,000 after acquiring an additional 28,000 shares during the last quarter. Vanguard Group Inc. lifted its stake in Alvotech by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 3,196,923 shares of the company's stock valued at $40,905,000 after buying an additional 23,799 shares in the last quarter. Finally, Tempus Wealth Planning LLC purchased a new stake in Alvotech during the fourth quarter valued at about $310,000.

Alvotech Trading Down 3.7%

ALVO stock traded down $0.39 during mid-day trading on Monday, reaching $10.07. 118,095 shares of the stock traded hands, compared to its average volume of 137,850. Alvotech has a 52-week low of $7.35 and a 52-week high of $14.65. The company has a market cap of $3.04 billion, a P/E ratio of -5.44 and a beta of -0.02. The stock's fifty day moving average is $9.37 and its 200-day moving average is $11.29.

Alvotech (NASDAQ:ALVO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of ($0.17) by $0.52. Equities research analysts expect that Alvotech will post -0.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, UBS Group began coverage on shares of Alvotech in a research note on Friday, February 14th. They set a "buy" rating and a $18.00 price objective for the company.

Alvotech Company Profile

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.