The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Altimmune Inc. shares valued at $300,268 were sold by Pisano Wayne on Dec 22. At $15.01 per share, Pisano Wayne sold 20,000 shares. The insider’s holdings dropped to 8,498 shares worth approximately $0.1 million following the completion of this transaction.
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Also, Garg Vipin K sold 20,000 shares, netting a total of over 400,322 in proceeds. Following the sale of shares at $20.02 each, the insider now holds 236,797 shares.
Before that, Garg Vipin K had sold 15,000 shares from its account. In a trade valued at $225,890, the President and CEO traded Altimmune Inc. shares for $15.06 each. Upon closing the transaction, the insider’s holdings decreased to 15,000 shares, worth approximately $3.13 million.
As published in their initiating research note from Goldman on December 01, 2022, Altimmune Inc. [ALT] has been a Buy and the price target has been revised to $20. This represents a 39.75% premium over Wednesday’s closing price. As of June 02, 2021, H.C. Wainwright has initiated its “Buy” rating for ALT. Earlier on February 11, 2021, Guggenheim initiated its rating. Their recommendation was “a Buy” for ALT stock.
Analyzing ALT Stock Performance
On Wednesday, Altimmune Inc. [NASDAQ: ALT] plunged -4.29% to $12.05. The stock’s lowest price that day was $11.79, but it reached a high of $12.375 in the same session. During the last five days, there has been a surge of approximately 3.26%. Over the course of the year, Altimmune Inc. shares have dropped approximately -26.75%. Shares of the company reached a 52-week high of $17.17 on 01/13/23 and a 52-week low of $11.28 on 02/21/23. A 50-day SMA is recorded $13.88, while a 200-day SMA reached $12.22. Nevertheless, trading volume fell to 1.06 million shares from 0.72 million shares the previous day.
Support And Resistance Levels for Altimmune Inc. (ALT)
According to the 24-hour chart, there is a support level at 11.77, which, if violated, would cause prices to drop to 11.49. In the upper region, resistance lies at 12.35. The next price resistance is at 12.66. RSI (Relative Strength Index) is 42.72 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.12, which suggests the price will decrease in the coming days. Percent R is at 74.33%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Altimmune Inc. subject to short interest?
Stocks of Altimmune Inc. saw a sharp rise in short interest on Jan 12, 2023 jumping by 0.98 million shares to 7.32 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 6.34 million shares. A jump of 13.39% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.86 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.86.
Which companies own the most shares of Altimmune Inc. (ALT)?
According to SSgA Funds Management, Inc. filings, the company currently owns 5,914,588 shares, which is about 12.03% of the total ALT shares outstanding. The investor’s shares have appreciated by 2,515,732 from its previous 13-F filing of 3398856.0 shares. With the completion of the buy transaction, Avidity Partners Management LP’s stake is now worth $54,423,600. Janus Henderson Investors US LLC reduced a -7.28% interest valued at $52.13 million while TIAA-CREF Investment Management L purchased a 52,063 stake. A total of 100,000 shares of Altimmune Inc. were bought by Tang Capital Management LLC during the quarter, and -842,863 were sold by Cormorant Asset Management LP. In its current portfolio, The Vanguard Group, Inc. holds 2,481,192 shares valued at $33.84 million.
In terms of Altimmune Inc. share price expectations, FactSet research, analysts set an average price target of $29.13 in the next 12 months, up nearly 106.51% from the previous closing price of $12.59. Analysts anticipate Altimmune Inc. stock to reach $50.00 by 2023, with the lowest price target being $20.00. In spite of this, 8 analysts ranked Altimmune Inc. stock as a Buy at the end of 2023. On December 14, 2020, Jefferies assigned a price target of “a Buy” to the stock and initiated coverage with a $25.