Alvotech (NASDAQ:ALVOW) Sees Significant Drop in Short Interest

Alvotech (NASDAQ:ALVOW) was the target of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 11,300 shares, a drop of 13.7% from the October 15th total of 13,100 shares. Based on an average daily trading volume, of 2,800 shares, the short-interest ratio is presently 4.0 days.

Alvotech Stock Up 0.3 %

Shares of NASDAQ ALVOW opened at $3.11 on Monday. Alvotech has a fifty-two week low of $1.43 and a fifty-two week high of $6.31. The company has a 50 day simple moving average of $2.88 and a two-hundred day simple moving average of $2.95.

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.