Why Is ALVOTECH (ALVO) Stock Down Today?

Alvotech (ALVO) shares fell 9.76% to $4.44 on Wednesday, driven by third-quarter results that missed analyst expectations despite strong year-over-year revenue growth. The company reported Q3 revenue of $111.6 million, which came in below the consensus estimate of $128.4 million.

What Happened

Alvotech announced its financial results for the nine months ending September 30, 2026. The company reported Q3 revenue of $111.6 million, missing the consensus estimate of $128.4 million. Adjusted EBITDA rose to $78.3 million from $68.0 million in the same period last year. The company also reported an EPS of $(0.23), missing the estimate of $(0.07).

Management maintained its full-year 2026 revenue guidance of $650 million to $700 million, which is slightly below the consensus estimate of $656.91 million. The company cited a continued focus on production as it navigates the current market environment.

What The Data Shows

The stock opened at $4.58, a 6.9% gap down from the prior close of $4.92. The session high was $4.58 at 7:10 AM ET, while the low reached $4.30 at 9:30 AM ET. Volume stood at 0.2 million shares, which is 0.2 times the three-month daily average.

Alvotech has a market capitalization of $1.7 billion and remains unprofitable with a trailing twelve-month EPS of $(0.61). Revenue has declined 12.1% over the trailing twelve months, and the net margin is $(36.3)%. The stock has a beta of 0.24 and trades within a 52-week range of $2.94 to $6.53. Over the last eight sessions, the stock had moved up 9.8% before this drop. On November 12, 2026, the stock printed one fresh 52-week high and three fresh 52-week lows.

What To Watch

Investors will monitor how the stock reacts to the reaffirmed 2026 guidance and whether the production focus leads to improved margins in future quarters.