Alvotech (NASDAQ:ALVOW) Short Interest Up 358.3% in March

Alvotech (NASDAQ:ALVOW) saw a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 27,500 shares, a growth 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 Trading Down 13.9 %

Shares of ALVOW traded down $0.21 during trading hours on Monday, reaching $1.30. 3,714 shares of the company traded hands, compared to its average volume of 10,919. Alvotech has a 12 month low of $1.03 and a 12 month high of $4.99. The company’s fifty day moving average price is $1.96 and its two-hundred day moving average price is $2.61.

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.