Altimmune (NASDAQ:ALT) Trading Up 8.7% - Should You Buy?

Shares of Altimmune, Inc. (NASDAQ:ALT - Get Free Report) 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 changed hands 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.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ALT. HC Wainwright reissued a "buy" rating and set a $12.00 price target on shares of Altimmune in a research report on Wednesday, February 5th. Stifel Nicolaus began coverage on Altimmune in a research report on Wednesday, January 8th. They set a "buy" rating and a $18.00 price target for the company. Finally, UBS Group initiated coverage on shares of Altimmune in a report on Tuesday, November 12th. They set a "buy" rating and a $26.00 target price on the stock. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $20.83.

Altimmune Price Performance

The stock 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 price-to-earnings ratio of -4.15 and a beta of 0.19.

Institutional Investors Weigh In On Altimmune

Institutional investors and hedge funds have recently modified their holdings of the stock. Sunbelt Securities Inc. boosted its position in shares of Altimmune by 356.8% during the 4th quarter. Sunbelt Securities Inc. now owns 10,844 shares of the company's stock worth $79,000 after purchasing an additional 8,470 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Altimmune by 16.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 92,392 shares of the company's stock worth $666,000 after acquiring an additional 13,126 shares during the last quarter. Two Sigma Investments LP raised its stake in shares of Altimmune by 33.2% in the fourth quarter. Two Sigma Investments LP now owns 605,303 shares of the company's stock worth $4,364,000 after buying an additional 151,001 shares during the period. Rafferty Asset Management LLC increased its holdings in Altimmune by 1.3% in the fourth quarter. Rafferty Asset Management LLC now owns 157,750 shares of the company's stock worth $1,137,000 after purchasing an additional 1,964 shares in the last quarter. Finally, ProShare Advisors LLC lifted its position in shares of Altimmune by 74.1% in the 4th quarter. ProShare Advisors LLC now owns 23,371 shares of the company's stock worth $169,000 after acquiring an additional 9,950 shares during the period. 78.05% of the stock is owned by hedge funds and other institutional investors.

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.