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

Alvotech (NASDAQ:ALVOW) saw a significant drop in short interest during the month of October. As of October 15th, there was short interest totalling 13,100 shares, a drop of 20.6% from the September 30th total of 16,500 shares. Based on an average daily volume of 3,100 shares, the days-to-cover ratio is presently 4.2 days.

Alvotech Trading Down 3.5 %

Alvotech stock opened at $3.02 on Wednesday. The business’s 50-day simple moving average is $2.78 and its 200-day simple moving average is $2.97. Alvotech has a 52 week low of $1.39 and a 52 week high of $6.31.

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.