Alvotech (NASDAQ:ALVOW) Short Interest Down 56.4% in August

Alvotech (NASDAQ:ALVOW) was the target of a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 6,100 shares, a decrease of 56.4% from the August 15th total of 14,000 shares. Based on an average daily trading volume, of 3,500 shares, the short-interest ratio is presently 1.7 days.

Alvotech Stock Performance

Shares of Alvotech stock remained flat at $2.55 during trading on Friday. The company’s 50-day moving average is $2.76 and its 200-day moving average is $3.20. Alvotech has a 52-week low of $1.39 and a 52-week high of $6.31.

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.