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Stock Alert: Altimmune Ascends 10%

Shares of clinical stage biopharmaceutical company, Altimmune, Inc. (ALT) are climbing more than 10% Friday morning at $13.33. It has traded in the range of $1.51- $35.10 in the past 52 weeks.

According to an SEC filing dated September 24, D. E. Shaw & Co., L.P. and David E. Shaw have become beneficial owners of Altimmune taking more than 5% stakes in the company.

Altimmune's investigational therapeutic program for COVID-19 is T-COVID, an intranasal immune modulator for the treatment of outpatients with early COVID-19.

The company is also developing a vaccine for COVID-19 by the name AdCOVID, which is under preclinical studies at the University of Alabama at Birmingham (UAB).

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