Oaktree Fund Advisors LLC Decreases Stock Holdings in Alvotech (NASDAQ:ALVO)

Oaktree Fund Advisors LLC lowered its stake in shares of Alvotech (NASDAQ:ALVO) by 12.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 118,744 shares of the company’s stock after selling 17,307 shares during the period. Alvotech accounts for 1.4% of Oaktree Fund Advisors LLC’s investment portfolio, making the stock its 16th largest position. Oaktree Fund Advisors LLC owned 0.38% of Alvotech worth $1,444,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in ALVO. Richmond Brothers Inc. acquired a new position in shares of Alvotech during the 2nd quarter valued at about $170,000. Littlejohn & Co. LLC boosted its holdings in Alvotech by 7.6% in 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 last quarter. Vanguard Group Inc. grew its stake in shares of Alvotech by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 3,125,784 shares of the company’s stock valued at $38,197,000 after buying an additional 63,948 shares during the period. Finally, Oaktree Capital Management LP increased its holdings 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 last quarter.

Wall Street Analysts Forecast Growth

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

Alvotech Trading Down 0.5 %

Shares of NASDAQ:ALVO opened at $11.12 on Friday. The business has a 50-day moving average price of $11.52 and a 200 day moving average price of $12.82. Alvotech has a 12-month low of $8.30 and a 12-month high of $18.00. The company has a market capitalization of $347.50 million, a price-to-earnings ratio of -5.35 and a beta of -0.08.

Alvotech (NASDAQ:ALVO) last announced its quarterly earnings results on Thursday, August 15th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.56. The company had revenue of $198.75 million for the quarter. During the same period in the previous year, the company posted ($0.43) EPS. As a group, equities research analysts predict that Alvotech will post -0.66 earnings per share for the current fiscal 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.