Altimmune (NASDAQ:ALT) Stock Price Up 8.7% – Here’s What Happened

Altimmune, Inc. (NASDAQ:ALT)’s stock price rose 8.7% during mid-day trading on Wednesday . The company traded as high as $7.03 and last traded at $7.04. Approximately 1,702,325 shares were traded during trading, a decline of 20% from the average daily volume of 2,115,332 shares. The stock had previously closed at $6.48.

Analysts Set New Price Targets

ALT has been the topic of a number of recent analyst reports. Stifel Nicolaus initiated coverage on Altimmune in a research report on Wednesday, January 8th. They set a “buy” rating and a $18.00 target price on the stock. UBS Group assumed coverage on Altimmune in a report on Tuesday, November 12th. They issued a “buy” rating and a $26.00 price objective on the stock. Finally, HC Wainwright restated a “buy” rating and issued a $12.00 price objective on shares of Altimmune in a report on Wednesday, February 5th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $20.83.

Altimmune Stock Performance

The firm has a market capitalization of $457.30 million, a price-to-earnings ratio of -4.15 and a beta of 0.19. The business has a 50 day simple moving average of $7.06 and a 200-day simple moving average of $7.18.

Institutional Trading of Altimmune

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Larson Financial Group LLC acquired a new stake in shares of Altimmune during the 3rd quarter worth about $31,000. SBI Securities Co. Ltd. acquired a new stake in shares of Altimmune during the 4th quarter worth about $45,000. Virtus ETF Advisers LLC acquired a new stake in shares of Altimmune during the 4th quarter worth about $60,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Altimmune during the 4th quarter worth about $72,000. Finally, 180 Wealth Advisors LLC acquired a new stake in shares of Altimmune during the 4th quarter worth about $78,000. 78.05% of the stock is owned by institutional investors and hedge funds.

Altimmune Company Profile

Altimmune, Inc, a clinical stage biopharmaceutical company, focuses on developing treatments for obesity and liver diseases. The company's lead product candidate, pemvidutide, a GLP-1/glucagon dual receptor agonist that is in Phase 2 trial for the treatment of obesity and metabolic dysfunction-associated steatohepatitis.