Altimmune’s Nasdaq Biotech Index Addition Fuels Retail Enthusiasm, Stock Rebounds
The NBI serves as the basis for the iShares NASDAQ Biotechnology Index Fund and is reevaluated annually.
FollowShares of Altimmune, Inc. climbed early on Thursday, recovering from a nearly 6% drop in the previous session, drawing significant retail attention.
The stock became one of the top three trending symbols on Stocktwits during early trading after the company announced its inclusion in the Nasdaq Biotechnology Index ($NBI) starting Dec. 23.
Altimmune, a clinical-stage biotech firm, is currently developing pemvidutide for obesity and metabolic dysfunction-associated steatohepatitis (MASH).
CEO Vipin Garg said, “Our addition to the NBI is an important recognition to conclude what has been a year of major progress for the Company.”
“With a number of significant inflection points coming in 2025, including the topline data from the Phase 2b IMPACT trial of pemvidutide in MASH in the second quarter, we believe that we are well positioned heading into the new year,” he added.
The Nasdaq Biotechnology Index, established in 1993, tracks the performance of Nasdaq-listed biotech and pharmaceutical companies that meet strict criteria such as market capitalization, trading volume, and seasoning requirements.
The NBI serves as the basis for the iShares NASDAQ Biotechnology Index Fund and is reevaluated annually.
On Stocktwits, retail sentiment for Altimmune shifted from ‘neutral’ to ‘extremely bullish,’ accompanied by a sharp rise in message volume.
A poll on the platform revealed that 52% of retail investors believe the NBI addition will provide a significant long-term boost to the stock, while 22% expect minimal impact.
Altimmune’s shares got a boost last month following better-than-expected quarterly earnings and positive updates on pemvidutide.
The company reported a successful FDA meeting that finalized its Phase 3 obesity program design, with no major safety concerns raised.
Analysts like H.C. Wainwright’s Patrick Trucchio have expressed confidence in the drug’s differentiation within the GLP-1 agonist space, citing robust efficacy attributes and a well-defined clinical program.
Still, Altimmune’s stock remains down nearly 30% year-to-date.
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