Wolverine Asset Management LLC Invests $31,000 in Alvotech (NYSE:ALVO)

Wolverine Asset Management LLC bought a new stake in Alvotech (NYSE:ALVO – Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,376 shares of the company’s stock, valued at approximately $31,000.

A number of other large investors have also recently bought and sold shares of ALVO. UBS Group AG acquired a new stake in shares of Alvotech during the 2nd quarter worth about $112,000. Jane Street Group LLC acquired a new stake in Alvotech during the second quarter worth approximately $337,000. Finally, Millennium Management LLC purchased a new stake in Alvotech in the 2nd quarter worth approximately $431,000.

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Alvotech Price Performance

ALVO opened at $8.94 on Thursday. Alvotech has a 1 year low of $5.52 and a 1 year high of $14.60. The company’s 50 day simple moving average is $8.67 and its 200 day simple moving average is $10.52.

Alvotech (NYSE:ALVO – Get Free Report) last announced its quarterly earnings results on Friday, May 19th. The company reported ($1.24) earnings per share for the quarter. The business had revenue of $15.88 million for the quarter. As a group, sell-side analysts anticipate that Alvotech will post -0.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Deutsche Bank Aktiengesellschaft decreased their price objective on Alvotech from $12.00 to $8.00 in a report on Friday, June 30th.

View Our Latest Stock Analysis on ALVO

About Alvotech

(Free Report)

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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