Wolverine Asset Management LLC Lowers Stock Position in Alvotech (NYSE:ALVO)

Wolverine Asset Management LLC cut its holdings in Alvotech (NYSE:ALVO) by 65.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,227 shares of the company’s stock after selling 11,630 shares during the quarter. Wolverine Asset Management LLC’s holdings in Alvotech were worth $71,000 as of its most recent SEC filing.

Separately, B. Riley Wealth Advisors Inc. boosted its position in shares of Alvotech by 100.0% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 50,000 shares of the company’s stock worth $456,000 after purchasing an additional 25,000 shares in the last quarter.

Alvotech Trading Up 3.7 %

Shares of NYSE ALVO opened at $14.15 on Monday. The firm’s 50 day moving average price is $14.12 and its 200-day moving average price is $12.24. Alvotech has a 52-week low of $6.70 and a 52-week high of $18.00.

Alvotech (NYSE:ALVO) last issued its earnings results on Wednesday, March 20th. The company reported ($1.22) EPS for the quarter, missing the consensus estimate of $0.15 by ($1.37). The business had revenue of $18.90 million during the quarter, compared to analyst estimates of $93.00 million. As a group, research analysts expect that Alvotech will post -0.79 earnings per share for the current year.

Analyst Ratings Changes

Separately, Barclays raised their price objective on Alvotech from $17.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, March 22nd.

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.