Alvotech (NASDAQ:ALVO) Short Interest Up 48.8% in December

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 trading volume of 113,800 shares, the short-interest ratio is presently 1.1 days. Currently, 0.1% of the company’s shares are short sold.

Alvotech Price Performance

Shares of ALVO traded down $0.02 during midday trading on Monday, hitting $12.65. The stock had a trading volume of 5,704 shares, compared to its average volume of 176,418. Alvotech has a 1 year low of $9.15 and a 1 year high of $18.00. The stock’s 50 day moving average is $12.23 and its 200 day moving average is $12.05. The firm has a market cap of $3.81 billion, a PE ratio of -6.84 and a beta of -0.15.

Institutional Trading of Alvotech

Large investors have recently made changes to their positions in the stock. Wolverine Asset Management LLC purchased a new stake in Alvotech in the 3rd quarter valued at about $70,000. Richmond Brothers Inc. purchased a new stake in shares of Alvotech in the second quarter valued at approximately $170,000. Royce & Associates LP increased its holdings in Alvotech by 39.4% during the 3rd quarter. Royce & Associates LP now owns 131,000 shares of the company’s stock worth $1,559,000 after purchasing an additional 37,000 shares during the period. Geode Capital Management LLC raised its position in Alvotech by 11.2% during the 3rd quarter. Geode Capital Management LLC now owns 209,257 shares of the company’s stock valued at $2,490,000 after purchasing an additional 21,022 shares in the last quarter. Finally, PointState Capital LP lifted its holdings in shares of Alvotech by 3.6% in the 3rd quarter. PointState Capital LP now owns 756,553 shares of the company’s stock worth $9,003,000 after buying an additional 26,481 shares during the period.

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.