Alvotech $ALVO Shares Sold by Oaktree Capital Management LP

Oaktree Capital Management LP lowered its stake in Alvotech (NASDAQ:ALVO - Free Report) by 55.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 240,038 shares of the company's stock after selling 293,618 shares during the quarter. Oaktree Capital Management LP owned about 0.08% of Alvotech worth $823,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Goldman Sachs Group Inc. raised its position in shares of Alvotech by 40.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 36,444 shares of the company's stock worth $352,000 after buying an additional 10,573 shares in the last quarter. Geode Capital Management LLC boosted its stake in Alvotech by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 230,291 shares of the company's stock valued at $2,100,000 after purchasing an additional 1,574 shares in the last quarter. Invesco Ltd. boosted its stake in Alvotech by 37.3% during the 2nd quarter. Invesco Ltd. now owns 32,398 shares of the company's stock valued at $295,000 after purchasing an additional 8,794 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Alvotech by 218.0% in the 2nd quarter. Bank of America Corp DE now owns 16,623 shares of the company's stock worth $152,000 after buying an additional 11,395 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC bought a new stake in Alvotech in the second quarter worth about $1,782,000.

Analyst Ratings Changes

Several brokerages have recently issued reports on ALVO. Weiss Ratings cut shares of Alvotech from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, June 9th. Wall Street Zen lowered shares of Alvotech from a "hold" rating to a "sell" rating in a research report on Saturday, May 23rd. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $7.60.

Alvotech Price Performance

Shares of ALVO opened at $3.53 on Thursday. The company has a 50-day moving average of $3.55 and a two-hundred day moving average of $3.87. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of -14.12 and a beta of 0.19. Alvotech has a one year low of $2.94 and a one year high of $9.73.

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

About Alvotech

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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