Short Interest in Alvotech (NASDAQ:ALVOW) Declines By 87.9%

Alvotech (NASDAQ:ALVOWGet Free Report) was the recipient of a large drop in short interest in January. As of January 31st, there was short interest totalling 700 shares, a drop of 87.9% from the January 15th total of 5,800 shares. Based on an average daily volume of 9,000 shares, the short-interest ratio is currently 0.1 days.

Alvotech Stock Performance

ALVOW stock traded down $0.20 during midday trading on Monday, hitting $4.13. 2,322 shares of the company’s stock were exchanged, compared to its average volume of 21,176. The stock’s fifty day moving average price is $2.77 and its 200-day moving average price is $2.06. Alvotech has a one year low of $0.83 and a one year high of $4.50.

Institutional Trading of Alvotech

A hedge fund recently bought a new stake in Alvotech stock. CSS LLC IL purchased a new stake in Alvotech (NASDAQ:ALVOWFree Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 61,875 shares of the company’s stock, valued at approximately $58,000.

Alvotech Company Profile

(Get Free Report)

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.

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