Alvotech (NASDAQ:ALVO) Short Interest Update

Alvotech (NASDAQ:ALVO) was the target of a large decrease in short interest in January. As of January 15th, there was short interest totalling 380,200 shares, a decrease of 12.9% from the December 31st total of 436,500 shares. Approximately 0.4% of the shares of the stock are short sold. Based on an average trading volume of 120,400 shares, the days-to-cover ratio is currently 3.2 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its stake in Alvotech by 11.2% in the 3rd quarter. Geode Capital Management LLC now owns 209,257 shares of the company’s stock valued at $2,490,000 after buying an additional 21,022 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in Alvotech in the 4th quarter valued at about $748,000. Wolverine Asset Management LLC acquired a new stake in Alvotech in the 3rd quarter valued at about $70,000. PointState Capital LP raised its holdings in Alvotech by 3.6% in the 3rd quarter. PointState Capital LP now owns 756,553 shares of the company’s stock valued at $9,003,000 after acquiring an additional 26,481 shares during the last quarter. Finally, Royce & Associates LP raised its holdings in Alvotech by 39.4% in the 3rd quarter. Royce & Associates LP now owns 131,000 shares of the company’s stock valued at $1,559,000 after acquiring an additional 37,000 shares during the last quarter.

Alvotech Stock Down 2.4 %

Shares of ALVO stock traded down $0.30 during mid-day trading on Monday, hitting $12.42. 332,471 shares of the stock were exchanged, compared to its average volume of 186,123. The firm has a fifty day moving average of $12.51 and a 200 day moving average of $12.13. Alvotech has a 52-week low of $9.15 and a 52-week high of $18.00. The company has a market cap of $3.74 billion, a PE ratio of -6.71 and a beta of -0.19.

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.