Alvotech $ALVO Shares Bought by TBH Global Asset Management LLC

TBH Global Asset Management LLC raised its stake in shares of Alvotech (NASDAQ:ALVO) by 16.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 35,500 shares of the company’s stock after acquiring an additional 5,000 shares during the quarter. TBH Global Asset Management LLC’s holdings in Alvotech were worth $324,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in Alvotech by 31.1% in the 1st quarter. Vanguard Group Inc. now owns 4,192,461 shares of the company’s stock valued at $40,306,000 after buying an additional 995,538 shares in the last quarter. ProShare Advisors LLC purchased a new stake in shares of Alvotech during the fourth quarter worth approximately $167,000. Invesco Ltd. raised its stake in Alvotech by 110.6% in the 1st quarter. Invesco Ltd. now owns 23,604 shares of the company’s stock valued at $228,000 after purchasing an additional 12,394 shares during the last quarter. Royce & Associates LP raised its stake in Alvotech by 7.6% in the 1st quarter. Royce & Associates LP now owns 171,043 shares of the company’s stock valued at $1,654,000 after purchasing an additional 12,043 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Alvotech by 40.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 36,444 shares of the company’s stock worth $352,000 after purchasing an additional 10,573 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ALVO shares. UBS Group decreased their price target on Alvotech from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Friday, July 18th. Zacks Research lowered shares of Alvotech from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 18th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Alvotech from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a report on Tuesday, September 23rd. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $14.00.

Alvotech Stock Performance

Shares of ALVO opened at $8.34 on Monday. Alvotech has a fifty-two week low of $7.35 and a fifty-two week high of $13.70. The firm has a 50-day simple moving average of $8.46 and a 200-day simple moving average of $9.13. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of 36.26 and a beta of 0.10.

Alvotech (NASDAQ:ALVO) last posted its quarterly earnings data on Wednesday, August 13th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of ($0.26) by $0.40. Alvotech had a negative return on equity of 38.36% and a net margin of 11.26%.The firm had revenue of $116.02 million during the quarter, compared to the consensus estimate of $120.51 million. Equities research analysts forecast that Alvotech will post -0.07 EPS for the current year.

Alvotech 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.