Alvotech (NASDAQ:ALVOW) Short Interest Down 22.7% in December

Alvotech (NASDAQ:ALVOW) was the recipient of a large decline in short interest in December. As of December 15th, there was short interest totalling 19,700 shares, a decline of 22.7% from the November 30th total of 25,500 shares. Based on an average trading volume of 3,900 shares, the short-interest ratio is currently 5.1 days.

Alvotech Price Performance

NASDAQ:ALVOW traded up $0.20 during midday trading on Friday, hitting $3.23. 3,059 shares of the stock were exchanged, compared to its average volume of 7,734. Alvotech has a one year low of $1.71 and a one year high of $6.31. The business has a 50-day moving average price of $2.94 and a two-hundred day moving average price of $2.88.

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.