Altimmune, Inc. (NASDAQ:ALT – Get Rating) was the recipient of a large decrease in short interest in the month of January. As of January 31st, there was short interest totalling 6,170,000 shares, a decrease of 15.7% from the January 15th total of 7,320,000 shares. Based on an average daily volume of 1,450,000 shares, the days-to-cover ratio is currently 4.3 days.
Insider Buying and Selling at Altimmune
In related news, Director Wayne Pisano sold 20,000 shares of Altimmune stock in a transaction that occurred on Thursday, December 22nd. The shares were sold at an average price of $15.01, for a total value of $300,200.00. Following the sale, the director now owns 8,498 shares of the company’s stock, valued at approximately $127,554.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.19% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in ALT. Graham Capital Management L.P. bought a new position in Altimmune during the 1st quarter valued at approximately $63,000. Engineers Gate Manager LP bought a new stake in shares of Altimmune during the first quarter valued at approximately $87,000. Dynamic Technology Lab Private Ltd bought a new stake in Altimmune during the first quarter worth about $106,000. King Wealth bought a new stake in Altimmune in the second quarter worth $117,000. Finally, XTX Topco Ltd increased its holdings in shares of Altimmune by 33.2% during the first quarter. XTX Topco Ltd now owns 19,665 shares of the company’s stock valued at $120,000 after acquiring an additional 4,898 shares in the last quarter. 93.69% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on ALT. HC Wainwright reiterated a “buy” rating and set a $50.00 target price on shares of Altimmune in a research report on Friday, January 20th. The Goldman Sachs Group started coverage on Altimmune in a research note on Thursday, December 1st. They issued a “buy” rating and a $20.00 target price for the company. Evercore ISI lifted their price objective on Altimmune from $14.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, January 18th. Finally, JMP Securities dropped their price target on Altimmune from $28.00 to $26.00 and set a “market outperform” rating for the company in a research note on Friday, November 11th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $29.13.
Altimmune Price Performance
ALT opened at $12.38 on Wednesday. Altimmune has a 1 year low of $3.83 and a 1 year high of $23.49. The stock’s 50 day simple moving average is $13.93 and its 200 day simple moving average is $13.57. The firm has a market cap of $608.60 million, a price-to-earnings ratio of -6.48 and a beta of 0.13.
Altimmune Company Profile
Altimmune, Inc is a clinical stage biopharmaceutical company, which focuses on the development of novel peptide-based therapeutics for the treatment of obesity and liver diseases. The company’s lead product candidate, pemvidutide, is a GLP-1/glucagon dual receptor agonist that is being developed for the treatment of obesity and NASH.