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

Altimmune, Inc. (NASDAQ:ALT) was up 8.7% on Wednesday . The stock traded as high as $7.03 and last traded at $7.04. Approximately 1,702,325 shares were traded during mid-day 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

Several equities analysts have weighed in on ALT shares. Stifel Nicolaus started coverage on Altimmune in a research report on Wednesday, January 8th. They issued a “buy” rating and a $18.00 target price for the company. HC Wainwright reiterated a “buy” rating and issued a $12.00 price objective on shares of Altimmune in a research note on Wednesday, February 5th. Finally, UBS Group began coverage on Altimmune in a research note on Tuesday, November 12th. They issued a “buy” rating and a $26.00 price objective for the company. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $20.83.

Altimmune Trading Down 3.0 %

The firm has a 50 day moving average price of $7.06 and a 200-day moving average price of $7.18. The firm has a market cap of $457.30 million, a PE ratio of -4.15 and a beta of 0.19.

Institutional Investors Weigh In On Altimmune

Several institutional investors have recently added to or reduced their stakes in ALT. Creative Planning lifted its stake in Altimmune by 20.5% during the third quarter. Creative Planning now owns 18,411 shares of the company’s stock worth $113,000 after purchasing an additional 3,132 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in Altimmune by 34.7% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 174,108 shares of the company’s stock worth $1,069,000 after purchasing an additional 44,832 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Altimmune by 119.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 40,705 shares of the company’s stock worth $250,000 after purchasing an additional 22,188 shares during the last quarter. Intech Investment Management LLC purchased a new stake in Altimmune during the third quarter worth approximately $207,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Altimmune by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 211,626 shares of the company’s stock worth $1,299,000 after purchasing an additional 4,772 shares during 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.