Shares of Alvotech (NYSE:ALVO – Get Free Report) were down 0.6% on Monday . The stock traded as low as $8.81 and last traded at $8.85. Approximately 19,697 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 100,436 shares. The stock had previously closed at $8.90.
Analyst Upgrades and Downgrades
Separately, Deutsche Bank Aktiengesellschaft lowered their target price on Alvotech from $12.00 to $8.00 in a research report on Friday, June 30th.
Get Our Latest Research Report on ALVO
Alvotech Trading Down 0.6 %
Alvotech (NYSE:ALVO – Get Free Report) last issued its quarterly earnings results on Friday, May 19th. The company reported ($1.24) earnings per share (EPS) for the quarter. The company had revenue of $15.88 million during the quarter. On average, sell-side analysts predict that Alvotech will post -0.99 earnings per share for the current fiscal year.
Institutional Trading of Alvotech
A number of institutional investors have recently bought and sold shares of the stock. UBS Group AG purchased a new stake in Alvotech in the second quarter worth $112,000. Millennium Management LLC purchased a new stake in Alvotech in the second quarter worth $431,000. Jane Street Group LLC purchased a new stake in Alvotech in the second quarter worth $337,000. Wolverine Asset Management LLC purchased a new stake in Alvotech in the first quarter worth $31,000. Finally, Bank of America Corp DE purchased a new stake in Alvotech in the first quarter worth $195,000.
Alvotech Company Profile
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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