Alvotech (NASDAQ:ALVO) Trading Down 0.9% – Should You Sell?

Alvotech (NASDAQ:ALVO) was down 0.9% during trading on Monday . The stock traded as low as $5.24 and last traded at $5.32. Approximately 223,467 shares were traded during trading, a decline of 36% from the average daily volume of 351,284 shares. The stock had previously closed at $5.37.

Analysts Set New Price Targets

Several analysts recently commented on ALVO shares. Zacks Research upgraded shares of Alvotech from a “strong sell” rating to a “hold” rating in a research note on Friday, December 19th. Wall Street Zen downgraded shares of Alvotech from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. Northland Securities set a $10.00 price target on Alvotech in a research note on Tuesday, November 4th. UBS Group dropped their price objective on Alvotech from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, November 18th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $8.00 price objective (down from $14.00) on shares of Alvotech in a report on Tuesday, November 4th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $8.60.

Alvotech Trading Down 0.9%

The business has a 50 day moving average of $5.09 and a 200-day moving average of $6.89. The stock has a market cap of $1.60 billion, a PE ratio of 23.13 and a beta of 0.12.

Alvotech (NASDAQ:ALVO) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.07). Alvotech had a negative return on equity of 26.10% and a net margin of 12.12%.The company had revenue of $113.95 million for the quarter, compared to analysts’ expectations of $116.80 million. On average, equities research analysts anticipate that Alvotech will post -0.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Alvotech

Several hedge funds have recently modified their holdings of the company. State of Wyoming acquired a new position in shares of Alvotech in the third quarter valued at approximately $54,000. Mirae Asset Global Investments Co. Ltd. grew its stake in Alvotech by 25.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,211 shares of the company’s stock worth $78,000 after acquiring an additional 3,110 shares during the period. Magnetar Financial LLC acquired a new position in Alvotech in the 3rd quarter valued at $86,000. ProShare Advisors LLC purchased a new position in shares of Alvotech during the 3rd quarter worth $91,000. Finally, Ulland Investment Advisors LLC acquired a new stake in shares of Alvotech during the third quarter worth $92,000.

Alvotech Company Profile

Alvotech (NASDAQ:ALVO) is a global biopharmaceutical company specializing in the development, manufacturing and commercialization of biosimilar medicines. The company focuses on creating high‐quality, cost‐effective alternatives to established biologic therapies in areas such as immunology, oncology and other specialty care fields. By leveraging in‐house research and a vertically integrated manufacturing platform, Alvotech aims to bring approved biosimilars to market more rapidly and with greater cost efficiency than many traditional biosimilar developers.

Since its founding in 2013, Alvotech has built a diversified pipeline of monoclonal antibody biosimilars, targeting blockbuster reference products including adalimumab (originally branded Humira), bevacizumab (Avastin) and ustekinumab (Stelara).