Alvotech (NASDAQ:ALVOW) Shares Down 0.3%

Alvotech (NASDAQ:ALVOW) was down 0.3% on Wednesday . The stock traded as low as $3.25 and last traded at $3.25. Approximately 460 shares changed hands during trading, a decline of 97% from the average daily volume of 14,652 shares. The stock had previously closed at $3.26.

Alvotech Stock Performance

The firm has a fifty day simple moving average of $3.95 and a two-hundred day simple moving average of $2.83.

Institutional Investors Weigh In On Alvotech

An institutional investor recently bought a new position in Alvotech stock. CSS LLC IL purchased a new position in shares of Alvotech (NASDAQ:ALVOW) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 61,875 shares of the company’s stock, valued at approximately $58,000.

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.