UBS Group Begins Coverage on Altimmune (NASDAQ:ALT)

UBS Group started coverage on shares of Altimmune (NASDAQ:ALT) in a report issued on Tuesday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $26.00 price target on the stock. UBS Group’s price objective would indicate a potential upside of 253.74% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on ALT. Evercore ISI raised Altimmune to a “strong-buy” rating in a report on Friday, August 9th. HC Wainwright reissued a “buy” rating and issued a $12.00 target price on shares of Altimmune in a research note on Thursday, August 22nd. Finally, B. Riley reissued a “buy” rating and issued a $20.00 target price on shares of Altimmune in a research note on Monday, August 12th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.00.

Altimmune Trading Down 4.3 %

Shares of ALT stock opened at $7.35 on Tuesday. The stock has a 50 day moving average of $6.83 and a two-hundred day moving average of $6.85. Altimmune has a 12 month low of $2.32 and a 12 month high of $14.84. The company has a market capitalization of $522.36 million, a P/E ratio of -4.54 and a beta of 0.09.

Insider Transactions at Altimmune

In other news, Director David Drutz sold 16,011 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $6.90, for a total value of $110,475.90. Following the transaction, the director now directly owns 41,958 shares in the company, valued at $289,510.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its holdings in Altimmune by 13.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 15,238 shares of the company’s stock worth $156,000 after acquiring an additional 1,821 shares in the last quarter. Creative Planning lifted its holdings in Altimmune by 20.5% during the third quarter. Creative Planning now owns 18,411 shares of the company’s stock worth $113,000 after acquiring an additional 3,132 shares in the last quarter. CANADA LIFE ASSURANCE Co bought a new position in Altimmune during the first quarter worth about $44,000. TFO Wealth Partners LLC bought a new position in Altimmune during the first quarter worth about $51,000. Finally, Arizona State Retirement System raised its stake in shares of Altimmune by 34.4% in the 2nd quarter. Arizona State Retirement System now owns 19,847 shares of the company’s stock valued at $132,000 after purchasing an additional 5,081 shares during the period. 78.05% of the stock is currently owned by 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.