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

Alvotech (NASDAQ:ALVOW) was the recipient of a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 25,500 shares, an increase of 39.3% from the November 15th total of 18,300 shares. Based on an average daily trading volume, of 3,800 shares, the short-interest ratio is currently 6.7 days.

Alvotech Price Performance

ALVOW stock traded up $0.25 during midday trading on Friday, hitting $2.80. The stock had a trading volume of 855 shares, compared to its average volume of 8,012. The business has a 50-day moving average of $2.95 and a two-hundred day moving average of $2.91. Alvotech has a 52-week low of $1.71 and a 52-week high of $6.31.

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.