Altimmune Target of Unusually High Options Trading (NASDAQ:ALT)

Altimmune, Inc. (NASDAQ:ALT) was the recipient of some unusual options trading on Tuesday. Stock traders acquired 18,846 call options on the company. This is an increase of 185% compared to the average daily volume of 6,618 call options.

Altimmune Stock Performance

Altimmune stock traded up $1.35 during midday trading on Tuesday, reaching $8.70. 9,475,063 shares of the company’s stock were exchanged, compared to its average volume of 3,786,421. The stock’s 50-day simple moving average is $6.83 and its 200 day simple moving average is $6.85. The firm has a market cap of $618.31 million, a price-to-earnings ratio of -5.51 and a beta of 0.09. Altimmune has a 52 week low of $2.32 and a 52 week high of $14.84.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Evercore ISI raised shares of Altimmune to a “strong-buy” rating in a report on Friday, August 9th. HC Wainwright restated a “buy” rating and issued a $12.00 price target on shares of Altimmune in a report on Thursday, August 22nd. B. Riley reiterated a “buy” rating and set a $20.00 price objective on shares of Altimmune in a report on Monday, August 12th. Finally, UBS Group began coverage on Altimmune in a research note on Tuesday. They set a “buy” rating and a $26.00 target price for the company. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Insider Activity at Altimmune

In other Altimmune news, Director David Drutz sold 16,011 shares of the company’s stock in a transaction on 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 owns 41,958 shares of the company’s stock, valued at approximately $289,510.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Farallon Capital Management LLC increased its position in Altimmune by 1,282.4% during the 1st quarter. Farallon Capital Management LLC now owns 470,000 shares of the company’s stock worth $4,785,000 after buying an additional 436,000 shares during the period. Knoll Capital Management LLC raised its stake in Altimmune by 183.6% in the 1st quarter. Knoll Capital Management LLC now owns 567,219 shares of the company’s stock worth $5,774,000 after purchasing an additional 367,219 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Altimmune by 142.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 570,174 shares of the company’s stock valued at $3,791,000 after purchasing an additional 335,444 shares during the period. SG Americas Securities LLC grew its position in shares of Altimmune by 542.8% during the 2nd quarter. SG Americas Securities LLC now owns 254,571 shares of the company’s stock worth $1,693,000 after purchasing an additional 214,968 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. bought a new position in shares of Altimmune during the second quarter worth approximately $860,000. Institutional investors and hedge funds own 78.05% of the company’s stock.

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.