Sculptor Capital LP Sells 1,001,064 Shares of Alvotech (NASDAQ:ALVO)

Sculptor Capital LP lowered its stake in shares of Alvotech (NASDAQ:ALVO) by 51.4% in the second quarter, Holdings Channel reports. The firm owned 945,098 shares of the company’s stock after selling 1,001,064 shares during the period. Sculptor Capital LP’s holdings in Alvotech were worth $11,187,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in ALVO. Richmond Brothers Inc. bought a new stake in Alvotech during the second quarter worth approximately $170,000. Oaktree Fund Advisors LLC boosted its position in shares of Alvotech by 11.2% in the fourth quarter. Oaktree Fund Advisors LLC now owns 523,915 shares of the company’s stock valued at $6,015,000 after acquiring an additional 52,662 shares during the period. Littlejohn & Co. LLC boosted its position in shares of Alvotech by 7.6% in the first quarter. Littlejohn & Co. LLC now owns 1,218,534 shares of the company’s stock valued at $14,890,000 after acquiring an additional 86,143 shares during the period. Vanguard Group Inc. boosted its position in shares of Alvotech by 2.1% in the first quarter. Vanguard Group Inc. now owns 3,125,784 shares of the company’s stock valued at $38,197,000 after acquiring an additional 63,948 shares during the period. Finally, Oaktree Capital Management LP boosted its position in shares of Alvotech by 8.1% in the fourth quarter. Oaktree Capital Management LP now owns 5,450,896 shares of the company’s stock valued at $62,576,000 after acquiring an additional 407,391 shares during the period.

Wall Street Analyst Weigh In

Separately, Barclays reduced their price objective on Alvotech from $22.00 to $18.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th.

Alvotech Price Performance

Shares of ALVO stock opened at $11.35 on Friday. The stock has a market cap of $354.69 million, a P/E ratio of -5.46 and a beta of -0.08. Alvotech has a one year low of $8.30 and a one year high of $18.00. The stock has a fifty day moving average price of $11.47 and a 200 day moving average price of $12.70.

Alvotech (NASDAQ:ALVO) last issued its earnings results on Thursday, August 15th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of ($0.28) by $0.56. The firm had revenue of $198.75 million during the quarter. During the same period in the prior year, the business posted ($0.43) earnings per share. Equities research analysts anticipate that Alvotech will post -0.66 EPS for the current year.

Alvotech Company 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.