Alvotech (NASDAQ:ALVOW) Sees Large Increase in Short Interest

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

Alvotech Trading Down 12.5 %

Shares of NASDAQ ALVOW opened at $2.72 on Friday. The company has a 50 day simple moving average of $2.97 and a 200 day simple moving average of $2.95. Alvotech has a 1 year low of $1.52 and a 1 year 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.