Alvotech (NASDAQ:ALVOW) Short Interest Down 38.2% in January

Alvotech (NASDAQ:ALVOW) was the target of a large drop in short interest in the month of January. As of January 15th, there was short interest totalling 11,800 shares, a drop of 38.2% from the December 31st total of 19,100 shares. Based on an average daily volume of 6,500 shares, the days-to-cover ratio is currently 1.8 days.

Alvotech Stock Performance

Shares of NASDAQ ALVOW opened at $2.48 on Friday. Alvotech has a one year low of $1.71 and a one year high of $6.31. The business has a 50-day moving average price of $2.95 and a two-hundred day moving average price of $2.88.

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.