TBH Global Asset Management LLC Grows Stake in Alvotech $ALVO

TBH Global Asset Management LLC boosted its holdings in shares of Alvotech (NASDAQ:ALVO) by 16.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,500 shares of the company’s stock after buying an additional 5,000 shares during the period. TBH Global Asset Management LLC’s holdings in Alvotech were worth $324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of ALVO. Vanguard Group Inc. increased its holdings in shares of Alvotech by 31.1% during the first quarter. Vanguard Group Inc. now owns 4,192,461 shares of the company’s stock valued at $40,306,000 after acquiring an additional 995,538 shares in the last quarter. Royce & Associates LP grew its position in Alvotech by 7.6% during the 1st quarter. Royce & Associates LP now owns 171,043 shares of the company’s stock worth $1,654,000 after purchasing an additional 12,043 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in Alvotech by 6.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 60,472 shares of the company’s stock valued at $585,000 after purchasing an additional 3,896 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Alvotech by 40.9% in the first quarter. Goldman Sachs Group Inc. now owns 36,444 shares of the company’s stock worth $352,000 after buying an additional 10,573 shares during the last quarter. Finally, Tempus Wealth Planning LLC lifted its stake in shares of Alvotech by 28.2% during the second quarter. Tempus Wealth Planning LLC now owns 31,652 shares of the company’s stock worth $289,000 after buying an additional 6,972 shares during the period.

Alvotech Price Performance

Shares of NASDAQ ALVO opened at $8.34 on Monday. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of 36.26 and a beta of 0.10. The firm’s 50 day simple moving average is $8.46 and its 200-day simple moving average is $9.13. Alvotech has a 12 month low of $7.35 and a 12 month high of $13.70.

Alvotech (NASDAQ:ALVO) last announced its quarterly earnings results on Wednesday, August 13th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.40. The firm had revenue of $116.02 million for the quarter, compared to the consensus estimate of $120.51 million. Alvotech had a net margin of 11.26% and a negative return on equity of 38.36%. Analysts anticipate that Alvotech will post -0.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ALVO has been the subject of a number of research reports. UBS Group lowered their price target on Alvotech from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Friday, July 18th. Deutsche Bank Aktiengesellschaft upgraded Alvotech from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research report on Tuesday, September 23rd. Finally, Zacks Research cut shares of Alvotech from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 18th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Alvotech presently has an average rating of “Moderate Buy” and a consensus target price of $14.00.

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.