Alvotech (NASDAQ:ALVO) Short Interest Update

Alvotech (NASDAQ:ALVO) was the recipient of a significant decline in short interest in the month of January. As of January 15th, there was short interest totalling 380,200 shares, a decline of 12.9% from the December 31st total of 436,500 shares. Currently, 0.4% of the company’s shares are short sold. Based on an average daily volume of 120,400 shares, the short-interest ratio is currently 3.2 days.

Alvotech Trading Down 2.4 %

Shares of ALVO stock traded down $0.30 during trading hours on Monday, reaching $12.42. 332,471 shares of the company’s stock were exchanged, compared to its average volume of 186,123. The stock’s 50 day moving average is $12.51 and its 200-day moving average is $12.13. The company has a market cap of $3.74 billion, a price-to-earnings ratio of -6.71 and a beta of -0.19. Alvotech has a fifty-two week low of $9.15 and a fifty-two week high of $18.00.

Hedge Funds Weigh In On Alvotech

Large investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Alvotech in the 4th quarter valued at $113,000. Tempus Wealth Planning LLC acquired a new position in shares of Alvotech in the 4th quarter valued at $310,000. China Universal Asset Management Co. Ltd. purchased a new stake in Alvotech in the fourth quarter valued at $748,000. 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 purchasing an additional 21,022 shares during the last quarter. Finally, PointState Capital LP boosted its holdings in Alvotech by 3.6% in the third quarter. PointState Capital LP now owns 756,553 shares of the company’s stock valued at $9,003,000 after purchasing an additional 26,481 shares during the last quarter.

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.