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

Alvotech (NASDAQ:ALVOW) saw a significant increase in short interest during the month of September. As of September 15th, there was short interest totalling 17,100 shares, an increase of 180.3% from the August 31st total of 6,100 shares. Based on an average daily volume of 3,200 shares, the days-to-cover ratio is currently 5.3 days.

Alvotech Price Performance

Shares of ALVOW stock opened at $2.80 on Thursday. Alvotech has a 1-year low of $1.39 and a 1-year high of $6.31. The stock has a 50-day moving average of $2.73 and a 200-day moving average of $3.09.

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.