Altimmune (NASDAQ:ALT) Shares Gap Up – Should You Buy?

Shares of Altimmune, Inc. (NASDAQ:ALT) gapped up before the market opened on Tuesday . The stock had previously closed at $7.35, but opened at $7.62. Altimmune shares last traded at $8.47, with a volume of 3,904,249 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. UBS Group assumed coverage on shares of Altimmune in a report on Tuesday. They set a “buy” rating and a $26.00 target price for the company. HC Wainwright restated a “buy” rating and issued a $12.00 price objective on shares of Altimmune in a report on Thursday, August 22nd. B. Riley restated a “buy” rating and issued a $20.00 price objective on shares of Altimmune in a report on Monday, August 12th. Finally, Evercore ISI upgraded shares of Altimmune to a “strong-buy” rating in a report on Friday, August 9th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.00.

Altimmune Stock Performance

The business’s 50-day moving average price is $6.83 and its 200-day moving average price is $6.85. The stock has a market cap of $681.56 million, a P/E ratio of -5.51 and a beta of 0.09.

Insider Activity

In related news, Director David Drutz sold 16,011 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $6.90, for a total value of $110,475.90. Following the completion of the transaction, the director now owns 41,958 shares of the company’s stock, valued at approximately $289,510.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its holdings in Altimmune by 142.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 570,174 shares of the company’s stock worth $3,791,000 after buying an additional 335,444 shares during the period. Knoll Capital Management LLC boosted its holdings in Altimmune by 183.6% in the 1st quarter. Knoll Capital Management LLC now owns 567,219 shares of the company’s stock worth $5,774,000 after buying an additional 367,219 shares during the period. Farallon Capital Management LLC lifted its stake in Altimmune by 1,282.4% in the 1st quarter. Farallon Capital Management LLC now owns 470,000 shares of the company’s stock worth $4,785,000 after purchasing an additional 436,000 shares in the last quarter. BBR Partners LLC lifted its stake in Altimmune by 4.5% in the 2nd quarter. BBR Partners LLC now owns 374,784 shares of the company’s stock worth $2,492,000 after purchasing an additional 16,271 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in Altimmune by 542.8% in the 2nd quarter. SG Americas Securities LLC now owns 254,571 shares of the company’s stock worth $1,693,000 after purchasing an additional 214,968 shares in the last quarter. Institutional investors own 78.05% of the company’s stock.

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.