Altimmune Shares Soar 9.33% on Analyst Buy Rating, Insider Buying

Altimmune(ALT) shares surged 9.33%, reaching their highest level since January 2025, with an intraday gain of 14.37%.

The strategy of buying ALT shares after they reached a recent high and holding for 1 week showed poor performance over the past 5 years. The annualized return was -22.4%, significantly underperforming the market. This indicates that relying on recent highs as a buying trigger and holding for a short duration is not a viable strategy for ALT.

Analysts have played a significant role in driving investor sentiment for Altimmune. HC Wainwright recently reaffirmed a "buy" rating for the company, setting a target price of $12.00. This positive outlook from analysts has likely contributed to the recent surge in the stock price, as investors respond favorably to such endorsements.

Insider trading activity has also been a notable factor. There has been a strong trend of insiders buying shares, with 2.66 million shares purchased in the last 100 trades. This significant buying activity by insiders suggests a high level of confidence in the company's future prospects, which can further boost investor optimism and drive the stock price higher.