Wolverine Asset Management LLC Has $99,000 Holdings in Alvotech (NASDAQ:ALVO)

Wolverine Asset Management LLC boosted its holdings in shares of Alvotech (NASDAQ:ALVO) by 27.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,448 shares of the company’s stock after buying an additional 1,607 shares during the quarter. Wolverine Asset Management LLC’s holdings in Alvotech were worth $99,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of ALVO. Royce & Associates LP increased its position in Alvotech by 39.4% during the third quarter. Royce & Associates LP now owns 131,000 shares of the company’s stock worth $1,559,000 after buying an additional 37,000 shares during the last quarter. PointState Capital LP boosted its holdings in shares of Alvotech by 3.6% during the third quarter. PointState Capital LP now owns 756,553 shares of the company’s stock worth $9,003,000 after acquiring an additional 26,481 shares during the period. Geode Capital Management LLC boosted its holdings in shares of 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 acquiring an additional 21,022 shares during the period. China Universal Asset Management Co. Ltd. bought a new stake in shares of Alvotech during the fourth quarter worth approximately $748,000. Finally, Tempus Wealth Planning LLC bought a new stake in shares of Alvotech during the fourth quarter worth approximately $310,000.

Analyst Ratings Changes

Separately, UBS Group started coverage on Alvotech in a report on Friday, February 14th. They set a “buy” rating and a $18.00 price objective for the company.

Alvotech Price Performance

Shares of NASDAQ:ALVO opened at $11.87 on Tuesday. The company has a market capitalization of $3.58 billion, a P/E ratio of -6.42 and a beta of -0.19. Alvotech has a 1 year low of $9.15 and a 1 year high of $18.00. The business’s 50 day simple moving average is $12.79 and its 200 day simple moving average is $12.23.

About Alvotech

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.