Alvotech (NASDAQ:ALVO) Short Interest Update

Alvotech (NASDAQ:ALVO) was the target of a significant decline in short interest during the month of December. As of December 15th, there was short interest totaling 1,885,572 shares, a decline of 41.1% from the November 30th total of 3,202,404 shares. Based on an average trading volume of 602,879 shares, the short-interest ratio is currently 3.1 days. Currently, 0.6% of the company’s stock are sold short. Currently, 0.6% of the company’s stock are sold short. Based on an average trading volume of 602,879 shares, the short-interest ratio is currently 3.1 days.

Alvotech Trading Down 0.6%

ALVO opened at $5.26 on Monday. Alvotech has a 12-month low of $4.32 and a 12-month high of $13.70. The firm has a 50 day moving average of $5.79 and a two-hundred day moving average of $7.63. The firm has a market capitalization of $1.59 billion, a PE ratio of 22.87 and a beta of 0.13.

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Barclays assumed coverage on shares of Alvotech in a research report on Monday, December 8th. They issued an “underweight” rating and a $5.00 price objective for the company. Weiss Ratings restated a “sell (e+)” rating on shares of Alvotech in a research note on Wednesday, October 8th. Wall Street Zen downgraded shares of Alvotech from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Northland Securities set a $10.00 price objective on shares of Alvotech in a report on Tuesday, November 4th. Finally, Morgan Stanley set a $10.00 target price on Alvotech in a research report on Wednesday, December 3rd. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $8.60.

Institutional Investors Weigh In On Alvotech

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALVO. Citadel Advisors LLC acquired a new position in shares of Alvotech in the 3rd quarter valued at about $346,000. Amundi raised its position in Alvotech by 71.0% during the third quarter. Amundi now owns 19,416 shares of the company’s stock valued at $167,000 after acquiring an additional 8,059 shares in the last quarter. Ulland Investment Advisors LLC purchased a new position in Alvotech during the third quarter valued at approximately $92,000. Magnetar Financial LLC acquired a new position in Alvotech in the third quarter valued at approximately $86,000. Finally, Orion Porfolio Solutions LLC purchased a new stake in Alvotech in the 3rd quarter worth approximately $92,000.

About Alvotech

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).