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

Alvotech (NASDAQ:ALVOW) saw a large growth in short interest during the month of July. As of July 31st, there was short interest totalling 4,400 shares, a growth of 450.0% from the July 15th total of 800 shares. Based on an average daily trading volume, of 2,500 shares, the days-to-cover ratio is presently 1.8 days.

Alvotech Stock Performance

ALVOW traded up $0.08 during trading on Wednesday, reaching $2.90. 4,100 shares of the company’s stock were exchanged, compared to its average volume of 9,671. Alvotech has a 1 year low of $1.28 and a 1 year high of $6.31. The company’s fifty day simple moving average is $2.95 and its 200-day simple moving average is $3.43.

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.