Tempus Wealth Planning LLC Invests $310,000 in Alvotech (NASDAQ:ALVO)

Tempus Wealth Planning LLC acquired a new stake in Alvotech (NASDAQ:ALVO) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 23,467 shares of the company’s stock, valued at approximately $310,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Wolverine Asset Management LLC acquired a new position in Alvotech during the 3rd quarter worth about $70,000. Geode Capital Management LLC lifted its position in shares of Alvotech by 11.2% during the third quarter. Geode Capital Management LLC now owns 209,257 shares of the company’s stock worth $2,490,000 after purchasing an additional 21,022 shares in the last quarter. PointState Capital LP increased its holdings in shares of Alvotech by 3.6% in the third quarter. PointState Capital LP now owns 756,553 shares of the company’s stock valued at $9,003,000 after purchasing an additional 26,481 shares in the last quarter. Royce & Associates LP raised its position in Alvotech by 39.4% in the 3rd quarter. Royce & Associates LP now owns 131,000 shares of the company’s stock worth $1,559,000 after purchasing an additional 37,000 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. acquired a new position in Alvotech during the 4th quarter worth $748,000.

Alvotech Stock Performance

Shares of ALVO opened at $12.44 on Wednesday. The firm has a market capitalization of $3.75 billion, a price-to-earnings ratio of -6.72 and a beta of -0.19. Alvotech has a 52 week low of $9.15 and a 52 week high of $18.00. The business’s fifty day moving average price is $12.52 and its two-hundred day moving average price is $12.13.

About Alvotech

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.