Alvotech (NASDAQ:ALVOW – Get Rating) was the target of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 6,000 shares, a growth of 39.5% from the February 13th total of 4,300 shares. Based on an average daily trading volume, of 50,800 shares, the days-to-cover ratio is presently 0.1 days.
Alvotech Stock Up 12.4 %
NASDAQ:ALVOW opened at $2.44 on Monday. The company has a 50-day moving average of $1.83 and a 200 day moving average of $1.10. Alvotech has a 1-year low of $0.36 and a 1-year high of $3.11.
Get Alvotech alerts:Institutional Investors Weigh In On Alvotech
Several hedge funds have recently modified their holdings of the business. Serengeti Asset Management LP boosted its position in Alvotech by 23.1% during the third quarter. Serengeti Asset Management LP now owns 400,000 shares of the company's stock valued at $279,000 after purchasing an additional 75,000 shares in the last quarter. Linden Advisors LP purchased a new position in shares of Alvotech in the 2nd quarter worth approximately $235,000. Sculptor Capital LP bought a new position in shares of Alvotech during the 2nd quarter worth approximately $68,000. LMR Partners LLP lifted its position in Alvotech by 56.0% during the third quarter. LMR Partners LLP now owns 94,118 shares of the company's stock valued at $636,000 after acquiring an additional 33,770 shares during the last quarter. Finally, KCL Capital L.P. acquired a new stake in Alvotech in the second quarter valued at approximately $70,000.
Alvotech Company Profile
(Get Rating)
Alvotech Holdings SA, through its subsidiaries, develops and manufactures biosimilars for global markets. The company is based in Iceland.
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