Sculptor Capital LP Has $11.19 Million Holdings in Alvotech (NASDAQ:ALVO)

Sculptor Capital LP cut its position in Alvotech (NASDAQ:ALVO - Free Report) by 51.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 945,098 shares of the company's stock after selling 1,001,064 shares during the period. Sculptor Capital LP owned 3.02% of Alvotech worth $11,187,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ALVO. Richmond Brothers Inc. acquired a new position in Alvotech during the 2nd quarter worth $170,000. Oaktree Fund Advisors LLC increased its position in Alvotech by 11.2% in the fourth quarter. Oaktree Fund Advisors LLC now owns 523,915 shares of the company's stock worth $6,015,000 after purchasing an additional 52,662 shares during the period. Vanguard Group Inc. raised its holdings in Alvotech by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 3,125,784 shares of the company's stock worth $38,197,000 after purchasing an additional 63,948 shares during the last quarter. Littlejohn & Co. LLC lifted its position in Alvotech by 7.6% during the 1st quarter. Littlejohn & Co. LLC now owns 1,218,534 shares of the company's stock valued at $14,890,000 after purchasing an additional 86,143 shares during the period. Finally, Oaktree Capital Management LP grew its position in shares of Alvotech by 8.1% during the 4th quarter. Oaktree Capital Management LP now owns 5,450,896 shares of the company's stock worth $62,576,000 after buying an additional 407,391 shares during the period.

Alvotech Trading Up 5.4 %

Shares of NASDAQ:ALVO traded up $0.61 during mid-day trading on Friday, reaching $11.96. The stock had a trading volume of 64,662 shares, compared to its average volume of 197,670. The firm has a market cap of $373.75 million, a PE ratio of -5.67 and a beta of -0.08. The firm has a 50 day simple moving average of $11.45 and a two-hundred day simple moving average of $12.69. Alvotech has a twelve month low of $8.30 and a twelve month high of $18.00.

Alvotech (NASDAQ:ALVO - Get Free Report) last announced its quarterly earnings results on Thursday, August 15th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.56. The firm had revenue of $198.75 million during the quarter. During the same period last year, the business earned ($0.43) earnings per share. On average, equities analysts anticipate that Alvotech will post -0.66 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Barclays reduced their price objective on shares of Alvotech from $22.00 to $18.00 and set an "overweight" rating on the stock in a research note on Thursday, July 25th.

Alvotech Profile

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.