Barclays PLC Invests $210,000 in Alvotech (NASDAQ:ALVO)

Barclays PLC purchased a new position in shares of Alvotech (NASDAQ:ALVO) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 15,860 shares of the company’s stock, valued at approximately $210,000.

Several other large investors also recently made changes to their positions in ALVO. China Universal Asset Management Co. Ltd. bought a new stake in shares of Alvotech during the 4th quarter worth about $748,000. Royce & Associates LP boosted its stake in shares of Alvotech by 21.4% during the 4th quarter. Royce & Associates LP now owns 159,000 shares of the company’s stock worth $2,104,000 after acquiring an additional 28,000 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Alvotech by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 3,196,923 shares of the company’s stock worth $40,905,000 after acquiring an additional 23,799 shares in the last quarter. Tempus Wealth Planning LLC bought a new stake in Alvotech during the 4th quarter valued at approximately $310,000. Finally, ADAR1 Capital Management LLC bought a new stake in Alvotech during the 4th quarter valued at approximately $273,000.

Alvotech Stock Up 5.9%

Shares of NASDAQ:ALVO opened at $10.25 on Tuesday. The business has a 50 day moving average price of $9.43 and a 200 day moving average price of $11.38. Alvotech has a twelve month low of $7.35 and a twelve month high of $14.65. The company has a market cap of $3.09 billion, a price-to-earnings ratio of -5.54 and a beta of -0.02.

Alvotech (NASDAQ:ALVO) last announced its earnings results on Wednesday, May 7th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.52. Analysts anticipate that Alvotech will post -0.07 EPS for the current year.

Analysts Set New Price Targets

Separately, UBS Group started coverage on Alvotech in a research note on Friday, February 14th. They set a “buy” rating and a $18.00 target price for the company.

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.