Altimmune (ALT) Stock Rises Amid Clinical Trial Progress: What's Going On?

Shares of Altimmune Inc ALT rose 5.8% to $5.82 on Tuesday afternoon, despite no new company-specific news for the session. The biotech stock is trending on the social media platform Stocktwits, possibly fueled by high short interest and investor excitement over recent clinical trial developments.

What To Know: On Monday, Altimmune announced it has enrolled the first subject in its RECLAIM Phase 2 trial evaluating pemvidutide for Alcohol Use Disorder. Pemvidutide, a dual GLP-1/glucagon receptor agonist, is also being studied for MASH, obesity, and Alcohol-Associated Liver Disease.

RECLAIM will involve 100 subjects across 15 U.S. sites, with the primary endpoint focused on reducing heavy drinking days over 24 weeks.

According to data from Benzinga Pro, the stock has a short float of 22.58 million shares, representing 28.05% of float, indicating heavy short interest and potential for a short squeeze.

Altimmune's ongoing Phase 2b trial in MASH is expected to deliver topline results in the second-quarter, with its ALD trial set to begin enrollment in the third-quarter.

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How To Buy ALT Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Altimmune’s case, it is in the Health Care sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

According to data from Benzinga Pro, ALT has a 52-week high of $11.16 and a 52-week low of $3.55.

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