Tempus Wealth Planning LLC Buys New Position in Alvotech (NASDAQ:ALVO)

Tempus Wealth Planning LLC purchased a new position in Alvotech (NASDAQ:ALVO) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 23,467 shares of the company’s stock, valued at approximately $310,000.

A number of other large investors also recently modified their holdings of ALVO. Wolverine Asset Management LLC bought a new position in Alvotech during the third quarter valued at about $70,000. China Universal Asset Management Co. Ltd. acquired a new position in shares of Alvotech in the fourth quarter valued at $748,000. Royce & Associates LP lifted its position in Alvotech by 39.4% in the third quarter. Royce & Associates LP now owns 131,000 shares of the company’s stock worth $1,559,000 after purchasing an additional 37,000 shares during the period. Geode Capital Management LLC boosted its stake in Alvotech by 11.2% during the third quarter. Geode Capital Management LLC now owns 209,257 shares of the company’s stock worth $2,490,000 after buying an additional 21,022 shares in the last quarter. Finally, PointState Capital LP increased its holdings in Alvotech by 3.6% in the 3rd quarter. PointState Capital LP now owns 756,553 shares of the company’s stock valued at $9,003,000 after buying an additional 26,481 shares during the period.

Alvotech Stock Performance

NASDAQ:ALVO opened at $12.44 on Wednesday. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of -6.72 and a beta of -0.19. The company has a 50-day moving average of $12.52 and a 200-day moving average of $12.13. Alvotech has a 52 week low of $9.15 and a 52 week high of $18.00.

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.