Alvotech (NASDAQ:ALVOW) Short Interest Update

Alvotech (NASDAQ:ALVOWGet Free Report) saw a significant drop in short interest in January. As of January 15th, there was short interest totalling 5,800 shares, a drop of 59.2% from the December 31st total of 14,200 shares. Based on an average daily volume of 7,400 shares, the days-to-cover ratio is currently 0.8 days.

Alvotech Price Performance

NASDAQ ALVOW remained flat at $3.32 on Friday. The company’s stock had a trading volume of 3,535 shares, compared to its average volume of 21,869. Alvotech has a 52-week low of $0.83 and a 52-week high of $4.27. The firm’s 50-day moving average is $2.27 and its 200-day moving average is $1.87.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Alvotech stock. CSS LLC IL bought a new position in shares of Alvotech (NASDAQ:ALVOWFree Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 61,875 shares of the company’s stock, valued at approximately $58,000.

Alvotech Company Profile

(Get Free Report)

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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