Alvotech (NASDAQ:ALVO) Reaches New 1-Year Low – Here’s Why

Alvotech (NASDAQ:ALVO) reached a new 52-week low on Thursday . The stock traded as low as $4.21 and last traded at $4.2050, with a volume of 158582 shares traded. The stock had previously closed at $4.37.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Wall Street Zen cut Alvotech from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Weiss Ratings reissued a “sell (e+)” rating on shares of Alvotech in a research report on Wednesday, January 21st. Barclays initiated coverage on shares of Alvotech in a report on Monday, December 8th. They issued an “underweight” rating and a $5.00 price objective for the company. Zacks Research raised shares of Alvotech from a “strong sell” rating to a “hold” rating in a research note on Friday, December 19th. Finally, UBS Group reduced their price target on shares of Alvotech from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, November 18th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $8.60.

Alvotech Price Performance

The stock’s 50 day simple moving average is $5.03 and its two-hundred day simple moving average is $6.55. The firm has a market cap of $1.23 billion, a P/E ratio of 17.92 and a beta of 0.12.

Institutional Investors Weigh In On Alvotech

Institutional investors and hedge funds have recently made changes to their positions in the company. State of Wyoming bought a new position in Alvotech in the 3rd quarter valued at approximately $54,000. Magnetar Financial LLC purchased a new position in shares of Alvotech in the third quarter worth $86,000. ProShare Advisors LLC bought a new position in shares of Alvotech during the third quarter valued at $91,000. Ulland Investment Advisors LLC purchased a new stake in shares of Alvotech during the third quarter valued at $92,000. Finally, Orion Porfolio Solutions LLC purchased a new stake in shares of Alvotech during the third quarter valued at $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).