Wolverine Asset Management LLC Buys 1,607 Shares of Alvotech (NASDAQ:ALVO)

Wolverine Asset Management LLC lifted its holdings in Alvotech (NASDAQ:ALVOFree Report) by 27.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,448 shares of the company’s stock after acquiring an additional 1,607 shares during the period. Wolverine Asset Management LLC’s holdings in Alvotech were worth $99,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Alvotech in the 4th quarter valued at about $113,000. Tempus Wealth Planning LLC acquired a new position in Alvotech during the 4th quarter valued at about $310,000. China Universal Asset Management Co. Ltd. acquired a new position in Alvotech during the 4th quarter valued at about $748,000. Royce & Associates LP boosted its stake in Alvotech by 39.4% during the 3rd quarter. Royce & Associates LP now owns 131,000 shares of the company’s stock valued at $1,559,000 after purchasing an additional 37,000 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Alvotech by 11.2% during the 3rd quarter. Geode Capital Management LLC now owns 209,257 shares of the company’s stock valued at $2,490,000 after purchasing an additional 21,022 shares during the last quarter.

Alvotech Stock Down 3.3 %

Alvotech stock opened at $11.87 on Tuesday. Alvotech has a 52 week low of $9.15 and a 52 week high of $18.00. The company’s 50 day moving average price is $12.79 and its two-hundred day moving average price is $12.23. The stock has a market cap of $3.58 billion, a P/E ratio of -6.42 and a beta of -0.19.

Wall Street Analyst Weigh In

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

Check Out Our Latest Stock Analysis on ALVO

Alvotech Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Alvotech (NASDAQ:ALVO)

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