Alvotech (NASDAQ:ALVO - Get Free Report) shares rose 5% on Friday . The company traded as high as $11.53 and last traded at $11.69. Approximately 119,903 shares changed hands during trading, a decline of 14% from the average daily volume of 138,773 shares. The stock had previously closed at $11.14.
Analyst Ratings Changes
Separately, UBS Group initiated coverage on shares of Alvotech in a research note on Friday, February 14th. They set a "buy" rating and a $18.00 target price for the company.
View Our Latest Stock Analysis on Alvotech
Alvotech Trading Up 3.9%
The firm has a market capitalization of $3.49 billion, a PE ratio of -6.26 and a beta of -0.02. The business's 50 day simple moving average is $9.23 and its two-hundred day simple moving average is $11.18.
Alvotech (NASDAQ:ALVO - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of ($0.17) by $0.52. As a group, equities research analysts anticipate that Alvotech will post -0.07 earnings per share for the current year.
Institutional Investors Weigh In On Alvotech
Hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets bought a new stake in shares of Alvotech during the 4th quarter valued at $66,000. GF Fund Management CO. LTD. bought a new stake in shares of Alvotech during the 4th quarter valued at $74,000. Wolverine Asset Management LLC grew its position in shares of Alvotech by 24.7% during the 1st 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 period. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Alvotech during the 4th quarter valued at $113,000. Finally, Invesco Ltd. bought a new stake in shares of Alvotech during the 4th quarter valued at $148,000.
About Alvotech
(
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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.
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