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

Alvotech (NASDAQ:ALVOW) was the target of a large increase in short interest in March. As of March 31st, there was short interest totalling 27,500 shares, an increase of 358.3% from the March 15th total of 6,000 shares. Based on an average trading volume of 10,800 shares, the days-to-cover ratio is presently 2.5 days.

Alvotech Price Performance

Alvotech stock opened at $1.30 on Wednesday. The firm’s 50 day simple moving average is $1.92 and its 200-day simple moving average is $2.59. Alvotech has a fifty-two week low of $1.03 and a fifty-two week high of $4.99.

About Alvotech

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.