Alvotech (NASDAQ:ALVO) Sees Unusually-High Trading Volume – Still a Buy?
by Jessica Moore · The Cerbat GemAlvotech (NASDAQ:ALVO – Get Free Report) shares saw an uptick in trading volume on Monday . 500,134 shares were traded during trading, an increase of 96% from the previous session’s volume of 255,210 shares.The stock last traded at $4.8750 and had previously closed at $5.00.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $8.00 price target (down from $14.00) on shares of Alvotech in a research report on Tuesday, November 4th. UBS Group decreased their target price on Alvotech from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, November 18th. Wall Street Zen downgraded shares of Alvotech from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. Morgan Stanley set a $10.00 price objective on shares of Alvotech in a research note on Wednesday, December 3rd. Finally, Northland Securities set a $10.00 target price on shares of Alvotech in a research note on Tuesday, November 4th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Alvotech presently has a consensus rating of “Hold” and a consensus price target of $8.60.
Check Out Our Latest Report on Alvotech
Alvotech Trading Down 2.0%
The stock’s 50 day moving average is $5.46 and its two-hundred day moving average is $7.47. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 21.30 and a beta of 0.11.
Alvotech (NASDAQ:ALVO – Get Free Report) last issued its quarterly earnings results on Wednesday, November 12th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). Alvotech had a net margin of 12.12% and a negative return on equity of 26.10%. The firm had revenue of $113.95 million during the quarter, compared to the consensus estimate of $116.80 million. On average, research analysts anticipate that Alvotech will post -0.07 earnings per share for the current year.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its stake in Alvotech by 30.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 24,455 shares of the company’s stock valued at $200,000 after buying an additional 5,697 shares during the last quarter. Citadel Advisors LLC acquired a new stake in shares of Alvotech in the third quarter valued at about $346,000. Amundi increased its position in shares of Alvotech by 71.0% in the third quarter. Amundi now owns 19,416 shares of the company’s stock valued at $167,000 after acquiring an additional 8,059 shares during the last quarter. Ulland Investment Advisors LLC bought a new stake in Alvotech during the third quarter worth about $92,000. Finally, Magnetar Financial LLC acquired a new position in Alvotech during the third quarter valued at approximately $86,000.
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).