Alvotech (NASDAQ:ALVO) Short Interest Update

Alvotech (NASDAQ:ALVO) was the target of a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 126,800 shares, a growth of 48.8% from the November 30th total of 85,200 shares. Based on an average daily trading volume, of 113,800 shares, the days-to-cover ratio is presently 1.1 days. Currently, 0.1% of the shares of the stock are sold short.

Institutional Trading of Alvotech

Hedge funds have recently modified their holdings of the stock. Wolverine Asset Management LLC acquired a new position in Alvotech during the 3rd quarter worth $70,000. Richmond Brothers Inc. bought a new stake in shares of Alvotech during the second quarter worth $170,000. Royce & Associates LP lifted its stake in shares of Alvotech by 39.4% during the third 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 period. Geode Capital Management LLC boosted its holdings in Alvotech by 11.2% in the third quarter. Geode Capital Management LLC now owns 209,257 shares of the company’s stock valued at $2,490,000 after acquiring an additional 21,022 shares during the last quarter. Finally, PointState Capital LP increased its position in Alvotech by 3.6% in the third quarter. PointState Capital LP now owns 756,553 shares of the company’s stock worth $9,003,000 after purchasing an additional 26,481 shares during the period.

Alvotech Trading Up 0.6 %

ALVO opened at $12.67 on Friday. Alvotech has a 1-year low of $9.15 and a 1-year high of $18.00. The stock has a market capitalization of $3.82 billion, a PE ratio of -6.85 and a beta of -0.15. The firm has a 50-day moving average price of $12.23 and a two-hundred day moving average price of $12.08.

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.