Short Interest in Alvotech (NASDAQ:ALVOW) Expands By 39.5%

Alvotech (NASDAQ:ALVOW – Get Rating) was the recipient of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 6,000 shares, an increase of 39.5% from the February 13th total of 4,300 shares. Based on an average daily trading volume, of 50,800 shares, the short-interest ratio is currently 0.1 days.

Alvotech Price Performance

ALVOW opened at $2.44 on Monday. Alvotech has a 12-month low of $0.36 and a 12-month high of $3.11. The firm has a 50 day moving average of $1.83 and a two-hundred day moving average of $1.10.

Institutional Trading of Alvotech

Hedge funds and other institutional investors have recently made changes to their positions in the business. CSS LLC IL acquired a new position in shares of Alvotech in the 4th quarter valued at $58,000. Sculptor Capital LP purchased a new position in Alvotech during the second quarter worth approximately $68,000. KCL Capital L.P. acquired a new stake in Alvotech in the second quarter valued at approximately $70,000. Linden Advisors LP acquired a new position in shares of Alvotech during the 2nd quarter worth approximately $235,000. Finally, Serengeti Asset Management LP lifted its position in shares of Alvotech by 23.1% during the 3rd quarter. Serengeti Asset Management LP now owns 400,000 shares of the company’s stock valued at $279,000 after buying an additional 75,000 shares in the last quarter.

Alvotech Company Profile

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Alvotech Holdings SA, through its subsidiaries, develops and manufactures biosimilars for global markets. The company is based in Iceland.