Wolverine Asset Management LLC Buys Shares of 5,841 Alvotech (NASDAQ:ALVO)

Wolverine Asset Management LLC purchased a new position in Alvotech (NASDAQ:ALVO) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,841 shares of the company’s stock, valued at approximately $70,000.

Separately, Richmond Brothers Inc. bought a new position in Alvotech in the 2nd quarter valued at about $170,000.

Analyst Ratings Changes

Separately, Barclays dropped their price target on shares of Alvotech from $22.00 to $18.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th.

Alvotech Trading Up 1.2 %

Shares of ALVO stock opened at $12.07 on Friday. Alvotech has a 1 year low of $8.90 and a 1 year high of $18.00. The business’s fifty day moving average is $12.08 and its 200-day moving average is $12.50.

Alvotech (NASDAQ:ALVO) last issued its quarterly earnings results on Thursday, August 15th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of ($0.28) by $0.56. The business had revenue of $198.75 million during the quarter. During the same quarter in the previous year, the business posted ($0.43) EPS. As a group, sell-side analysts expect that Alvotech will post -0.67 earnings per share for the current fiscal year.

About Alvotech

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.