Shares of Alvotech (NASDAQ:ALVO - Get Free Report) dropped 2.3% during mid-day trading on Tuesday . The stock traded as low as $8.81 and last traded at $8.81. Approximately 157,380 shares were traded during trading, an increase of 8% from the average daily volume of 145,139 shares. The stock had previously closed at $9.02.
Alvotech Trading Down 2.4%
The company has a 50 day moving average of $9.76 and a 200-day moving average of $10.70. The firm has a market capitalization of $2.57 billion, a P/E ratio of 23.03 and a beta of 0.11.
Alvotech (NASDAQ:ALVO - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.17) by $0.52. Alvotech had a net margin of 16.42% and a negative return on equity of 36.37%. As a group, sell-side analysts forecast that Alvotech will post -0.07 EPS for the current fiscal year.
Institutional Trading of Alvotech
A number of institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets acquired a new stake in shares of Alvotech in the fourth quarter valued at approximately $66,000. GF Fund Management CO. LTD. bought a new position in Alvotech during the 4th quarter worth $74,000. Wolverine Asset Management LLC raised its holdings in Alvotech by 24.7% in 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 in the last quarter. Invesco Ltd. bought a new stake in shares of Alvotech during the 4th quarter valued at $148,000. Finally, ProShare Advisors LLC acquired a new stake in shares of Alvotech during the 4th quarter worth $167,000.
Alvotech Company Profile
(
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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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