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

Altimmune, Inc. (NASDAQ:ALT)’s share price gapped up prior to trading 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 traded.

Analyst Ratings Changes

A number of equities analysts have recently commented on ALT shares. UBS Group started coverage on Altimmune in a report on Tuesday. They issued a “buy” rating and a $26.00 price target for the company. Evercore ISI upgraded Altimmune to a “strong-buy” rating in a research report on Friday, August 9th. B. Riley reiterated a “buy” rating and issued a $20.00 price objective on shares of Altimmune in a research report on Monday, August 12th. Finally, HC Wainwright reiterated a “buy” rating and issued a $12.00 price objective on shares of Altimmune in a research report on Thursday, August 22nd. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $20.00.

Altimmune Stock Up 30.5 %

The stock has a 50-day simple moving average of $6.83 and a two-hundred day simple moving average of $6.85. The firm has a market cap of $681.56 million, a PE ratio of -5.51 and a beta of 0.09.

Insider Activity

In other news, Director David Drutz sold 16,011 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $6.90, for a total transaction of $110,475.90. Following the transaction, the director now directly owns 41,958 shares of the company’s stock, valued at approximately $289,510.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.10% of the company’s stock.

Institutional Trading of Altimmune

Large investors have recently modified their holdings of the business. CANADA LIFE ASSURANCE Co bought a new stake in Altimmune during the 1st quarter valued at approximately $44,000. TFO Wealth Partners LLC bought a new stake in Altimmune during the 1st quarter valued at approximately $51,000. Horizon Wealth Management LLC bought a new stake in Altimmune during the 2nd quarter valued at approximately $66,000. PFG Investments LLC bought a new stake in Altimmune during the 2nd quarter valued at approximately $67,000. Finally, Principal Financial Group Inc. bought a new stake in Altimmune during the 2nd quarter valued at approximately $70,000. 78.05% of the stock is owned by 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.