Altimmune Stock Skyrockets on NAFLD Drug Trial Data

ALT is trading at its highest level since mid-September

Digital Content Manager
Dec 21, 2022 at 2:30 PM
facebook twitter linkedin


Altimmune Inc (NASDAQ:ALT) and SINTX Technologies Inc (NASDAQ:SINT) are trending today. The former announced its experimental drug to treat nonalcoholic fatty liver disease (NAFLD) patients met the main goal of an early-stage trial, and the latter secured a contract from the Missile Defense Agency for electrochemical machining. Below, let's dig deeper into how ALT and SINT are responding to these updates.
 

ALT Looks Ripe for Short Squeeze

Last seen up 15.6% at $13.76, ALT earlier broke through long-term resistance at its 80-day moving average to trade at its highest level since mid-September. The shares are building off yesterday's roughly 16% gain, and are adding to a healthy 47.8% year-to-date lead.

A short squeeze could fuel additional tailwinds. Though short sellers are already hitting the exits, with short interest down 10% during the most recent reporting period, the 6.56 million shares sold short still make up a hefty 13.4% of Altimmune stock's available float.

 

Technical Resistance Pressures SINT

SINT is surging as well, up 79.4% at $13.40 at last check. The security is bouncing off yesterday's record low of $6.46, though its 60-day moving average and the $15 level are capping today's gains. Over the past 1-2 months, SINTX Technologies stock is down 83.7%.

There are only two brokerages covering the security, but they are both bullish with a "buy" rating. Plus, the stock's 12-month consensus target price of $117.50 is a 849.1%  premium to current levels.

 

Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 

 


 


 
Special Offers from Schaeffer's Trading Partners