Alvotech (NASDAQ:ALVO) Shares Gap Down – Time to Sell?

Shares of Alvotech (NASDAQ:ALVO) gapped down before the market opened on Thursday. The stock had previously closed at $4.92, but opened at $4.50. Alvotech shares last traded at $4.6130, with a volume of 313,273 shares traded.

Key Alvotech News

Here’s some of the latest news about ALVO:

• Neutral Sentiment: Jefferies initiated coverage of Alvotech, but the available report does not specify an analyst rating or price target. Jefferies initiates coverage
• Negative Sentiment: Third-quarter revenue was $111.6 million, below the $125.2 million analyst estimate. Nine-month adjusted revenue fell 23% year over year to $323.4 million, while gross margin declined to 54% from 59%. Alvotech Q3 results
• Negative Sentiment: Management maintained 2026 revenue guidance of $650 million to $700 million but now expects performance toward the low end, adding caution about the pace of recovery and planned fourth-quarter deliveries. Alvotech results and business update

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ALVO shares. UBS Group set a $8.00 price objective on shares of Alvotech in a research report on Wednesday, September 16th. Zacks Research cut Alvotech from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 20th. Wall Street Zen downgraded Alvotech from a “hold” rating to a “sell” rating in a research note on Saturday, November 7th. Bank of America initiated coverage on shares of Alvotech in a research note on Monday, August 24th. They set a “buy” rating and a $7.00 price objective for the company. Finally, Weiss Ratings raised Alvotech from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, November 4th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $8.40.

Alvotech Stock Performance

The stock has a 50 day moving average price of $5.27 and a 200 day moving average price of $4.21. The company has a market cap of $1.42 billion, a P/E ratio of -7.76 and a beta of 0.24.

Alvotech (NASDAQ:ALVO) last released its earnings results on Wednesday, November 11th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.01. The business had revenue of $111.60 million for the quarter, compared to analyst estimates of $125.20 million. As a group, equities research analysts predict that Alvotech will post -0.01 earnings per share for the current year.

Institutional Trading of Alvotech

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Citadel Advisors LLC acquired a new stake in shares of Alvotech during the 2nd quarter worth approximately $6,376,000. Royce & Associates LP acquired a new stake in Alvotech in the 3rd quarter valued at $3,817,000. Ulland Investment Advisors LLC increased its stake in Alvotech by 5.0% in the 3rd quarter. Ulland Investment Advisors LLC now owns 115,000 shares of the company’s stock valued at $667,000 after buying an additional 5,500 shares during the last quarter. State Street Corp bought a new stake in Alvotech during the 3rd quarter worth about $594,000. Finally, Renaissance Technologies LLC lifted its position in Alvotech by 146.9% during the 1st quarter. Renaissance Technologies LLC now owns 63,200 shares of the company’s stock worth $217,000 after buying an additional 37,600 shares in the last quarter.

Alvotech Company Profile

Alvotech is a biopharmaceutical company based in Reykjavik, Iceland, focused on developing and manufacturing biosimilars—medicines designed to be highly similar to existing biologic drugs. Its work includes biosimilars for conditions in areas such as immunology and oncology. Founded in 2013 by entrepreneur Robert Wessman, the company operates an integrated development and manufacturing platform in Iceland. Alvotech works with commercial partners to seek regulatory approval for and distribute its products in markets including the United States and Europe.