Alvotech (NASDAQ:ALVO – Get Free Report) was the recipient of a significant increase in short interest in the month of August. As of August 15th, there was short interest totalling 135,900 shares, an increase of 108.1% from the July 31st total of 65,300 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily volume of 131,500 shares, the short-interest ratio is presently 1.0 days.
Analysts Set New Price Targets
Separately, Barclays cut their price objective on shares of Alvotech from $22.00 to $18.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th.
Read Our Latest Analysis on ALVO
Institutional Inflows and Outflows
Alvotech Price Performance
ALVO opened at $11.65 on Friday. The firm has a market cap of $364.06 million, a P/E ratio of -5.60 and a beta of -0.08. Alvotech has a 52 week low of $8.29 and a 52 week high of $18.00. The business’s fifty day simple moving average is $11.90 and its 200 day simple moving average is $13.35.
Alvotech (NASDAQ:ALVO – Get Free Report) last released its quarterly earnings data on Thursday, August 15th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.56. The business had revenue of $198.75 million for the quarter. During the same period in the prior year, the company posted ($0.43) EPS. As a group, equities analysts expect that Alvotech will post -0.66 EPS for the current fiscal year.
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.
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