Altimmune (NASDAQ:ALT) Shares Up 8.7% – Time to Buy?

Shares of Altimmune, Inc. (NASDAQ:ALT) rose 8.7% during 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.

Wall Street Analyst Weigh In

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

Altimmune Price Performance

The company’s 50-day simple moving average is $7.19 and its 200 day simple moving average is $7.18. The firm has a market cap of $484.68 million, a P/E ratio of -4.41 and a beta of 0.19.

Institutional Investors Weigh In On Altimmune

Hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC increased its stake in Altimmune by 1.1% in the 4th quarter. Barclays PLC now owns 157,528 shares of the company’s stock worth $1,135,000 after buying an additional 1,787 shares during the period. Rafferty Asset Management LLC grew its holdings in Altimmune by 1.3% during the 4th quarter. Rafferty Asset Management LLC now owns 157,750 shares of the company’s stock worth $1,137,000 after acquiring an additional 1,964 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Altimmune by 2.0% during the 4th quarter. JPMorgan Chase & Co. now owns 102,940 shares of the company’s stock worth $742,000 after acquiring an additional 2,028 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in Altimmune by 12.9% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 23,454 shares of the company’s stock worth $144,000 after acquiring an additional 2,687 shares in the last quarter. Finally, MetLife Investment Management LLC grew its holdings in Altimmune by 7.0% during the 4th quarter. MetLife Investment Management LLC now owns 44,474 shares of the company’s stock worth $321,000 after acquiring an additional 2,897 shares in the last quarter. Hedge funds and other 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.