Alvotech (NASDAQ:ALVO) Short Interest Update

Alvotech (NASDAQ:ALVO) saw a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 519,100 shares, an increase of 21.7% from the February 13th total of 426,400 shares. Approximately 0.5% of the shares of the company are short sold. Based on an average daily trading volume, of 162,900 shares, the short-interest ratio is presently 3.2 days.

Institutional Trading of Alvotech

Several hedge funds have recently made changes to their positions in ALVO. BNP Paribas Financial Markets bought a new stake in shares of Alvotech in the 4th quarter worth approximately $66,000. GF Fund Management CO. LTD. bought a new stake in shares of Alvotech in the 4th quarter worth approximately $74,000. Wolverine Asset Management LLC lifted its holdings in shares of Alvotech by 27.5% in the 4th quarter. Wolverine Asset Management LLC now owns 7,448 shares of the company’s stock worth $99,000 after purchasing an additional 1,607 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Alvotech in the 4th quarter worth approximately $113,000. Finally, Invesco Ltd. bought a new stake in shares of Alvotech in the 4th quarter worth approximately $148,000.

Analyst Upgrades and Downgrades

Separately, UBS Group initiated coverage on Alvotech in a report on Friday, February 14th. They set a “buy” rating and a $18.00 target price on the stock.

Alvotech Stock Up 0.1 %

NASDAQ:ALVO opened at $11.31 on Tuesday. The business’s 50 day moving average is $12.35 and its two-hundred day moving average is $12.18. Alvotech has a 52 week low of $9.15 and a 52 week high of $15.83. The company has a market cap of $3.41 billion, a PE ratio of -6.11 and a beta of -0.16.

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.