UBS Group Initiates Coverage on Altimmune (NASDAQ:ALT)

UBS Group initiated coverage on shares of Altimmune (NASDAQ:ALT - Get Free Report) in a research note issued on Tuesday, MarketBeat.com reports. The firm set a "buy" rating and a $26.00 price target on the stock. UBS Group's price objective points to a potential upside of 183.84% from the company's current price.

A number of other research analysts have also recently weighed in on ALT. B. Riley reiterated a "buy" rating and issued a $20.00 target price on shares of Altimmune in a report on Monday, August 12th. HC Wainwright reaffirmed a "buy" rating and issued a $12.00 price objective on shares of Altimmune in a research note on Thursday, August 22nd. Finally, Evercore ISI upgraded Altimmune to a "strong-buy" rating in a report on Friday, August 9th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $20.00.

Altimmune Trading Up 24.6 %

Shares of Altimmune stock traded up $1.81 during mid-day trading on Tuesday, hitting $9.16. 9,995,002 shares of the stock were exchanged, compared to its average volume of 3,790,944. The stock has a market capitalization of $651.00 million, a price-to-earnings ratio of -5.51 and a beta of 0.09. Altimmune has a twelve month low of $2.32 and a twelve month high of $14.84. The company has a 50-day simple moving average of $6.83 and a 200 day simple moving average of $6.85.

Insider Activity

In other Altimmune news, Director David Drutz sold 16,011 shares of Altimmune stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $6.90, for a total value of $110,475.90. Following the transaction, the director now owns 41,958 shares in the company, valued at approximately $289,510.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.10% of the stock is owned by insiders.

Institutional Trading of Altimmune

Several institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. acquired a new position in Altimmune in the first quarter worth approximately $271,000. BNP Paribas Financial Markets lifted its stake in shares of Altimmune by 154.0% in the 1st quarter. BNP Paribas Financial Markets now owns 32,425 shares of the company's stock valued at $330,000 after purchasing an additional 19,661 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Altimmune by 68.3% in the 1st quarter. SG Americas Securities LLC now owns 39,603 shares of the company's stock valued at $403,000 after purchasing an additional 16,078 shares during the last quarter. Swiss National Bank bought a new stake in Altimmune in the first quarter worth $1,079,000. Finally, Sei Investments Co. acquired a new position in Altimmune during the first quarter worth $479,000. 78.05% of the stock is currently owned by institutional investors and hedge funds.

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.