Short Interest in Alvotech (NASDAQ:ALVOW) Rises By 61.9%

Alvotech (NASDAQ:ALVOW) was the target of a significant increase in short interest in November. As of November 15th, there was short interest totalling 18,300 shares, an increase of 61.9% from the October 31st total of 11,300 shares. Based on an average trading volume of 3,800 shares, the short-interest ratio is currently 4.8 days.

Alvotech Price Performance

Shares of ALVOW remained flat at $2.72 during trading hours on Friday. The company had a trading volume of 2,238 shares, compared to its average volume of 8,290. The stock’s 50 day moving average is $2.97 and its 200-day moving average is $2.94. Alvotech has a 12 month low of $1.75 and a 12 month high of $6.31.

Alvotech Company 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.