Short Interest in Alvotech (NASDAQ:ALVOW) Increases By 1,466.7%

Alvotech (NASDAQ:ALVOW) was the target of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 9,400 shares, an increase of 1,466.7% from the February 13th total of 600 shares. Based on an average trading volume of 9,300 shares, the days-to-cover ratio is presently 1.0 days.

Alvotech Trading Up 28.0 %

Shares of ALVOW stock opened at $2.15 on Friday. Alvotech has a fifty-two week low of $1.16 and a fifty-two week high of $5.00. The business’s 50 day moving average price is $2.57 and its 200-day moving average price is $2.75.

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.