Alvotech (NASDAQ:ALVOW) Sees Significant Drop in Short Interest

Alvotech (NASDAQ:ALVOW) was the recipient of a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 6,000 shares, a decline of 36.2% from the February 28th total of 9,400 shares. Based on an average daily volume of 10,200 shares, the short-interest ratio is presently 0.6 days.

Alvotech Trading Down 16.6 %

Shares of Alvotech stock opened at $1.56 on Monday. Alvotech has a fifty-two week low of $1.16 and a fifty-two week high of $4.99. The firm has a 50-day simple moving average of $2.29 and a two-hundred day simple moving average of $2.71.

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.