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

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

Wall Street Analysts Forecast Growth

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

Altimmune Trading Up 5.2 %

The business’s 50 day moving average price is $7.19 and its two-hundred day moving average price is $7.18. The stock has a market cap of $484.68 million, a P/E ratio of -4.41 and a beta of 0.19.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Larson Financial Group LLC purchased a new position in Altimmune in the third quarter worth about $31,000. SBI Securities Co. Ltd. purchased a new position in shares of Altimmune during the fourth quarter valued at approximately $45,000. Virtus ETF Advisers LLC purchased a new position in shares of Altimmune during the fourth quarter valued at approximately $60,000. Cullen Frost Bankers Inc. purchased a new position in shares of Altimmune during the fourth quarter valued at approximately $72,000. Finally, 180 Wealth Advisors LLC purchased a new position in shares of Altimmune during the fourth quarter valued at approximately $78,000. 78.05% of the stock is owned by hedge funds and other institutional investors.

About Altimmune

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.