Short Interest in Alvotech (NASDAQ:ALVOW) Drops By 13.7%

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

Alvotech Price Performance

Shares of ALVOW stock opened at $3.11 on Friday. Alvotech has a twelve month low of $1.43 and a twelve month high of $6.31. The firm has a 50-day moving average price of $2.88 and a 200 day moving average price 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.