Altimmune (NASDAQ:ALT) Trading Up 8.1%

Shares of Altimmune, Inc. (NASDAQ:ALT) rose 8.1% on Thursday . The company traded as high as $7.80 and last traded at $7.74. Approximately 618,253 shares changed hands during trading, a decline of 88% from the average daily volume of 5,066,105 shares. The stock had previously closed at $7.16.

Analysts Set New Price Targets

ALT has been the subject of several analyst reports. HC Wainwright lowered their target price on shares of Altimmune from $15.00 to $12.00 and set a “buy” rating for the company in a report on Monday, April 1st. B. Riley reiterated a “buy” rating and issued a $20.00 target price on shares of Altimmune in a research note on Thursday, March 28th. The Goldman Sachs Group initiated coverage on shares of Altimmune in a research note on Wednesday, January 24th. They set a “neutral” rating and a $13.00 target price for the company. Finally, Guggenheim downgraded shares of Altimmune from a “buy” rating to a “neutral” rating in a research note on Monday, April 29th.

Altimmune Stock Up 9.8 %

The firm has a 50 day moving average of $8.77 and a 200-day moving average of $7.80. The company has a market cap of $557.20 million, a P/E ratio of -4.72 and a beta of 0.22.

Altimmune (NASDAQ:ALT) last issued its earnings results on Wednesday, March 27th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.02. The business had revenue of $0.04 million during the quarter. Altimmune had a negative return on equity of 44.77% and a negative net margin of 20,780.75%. On average, research analysts predict that Altimmune, Inc. will post -1.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Altimmune

A number of hedge funds have recently made changes to their positions in ALT. North Star Investment Management Corp. purchased a new stake in shares of Altimmune in the 1st quarter valued at $31,000. FNY Investment Advisers LLC acquired a new stake in Altimmune during the 4th quarter worth about $35,000. Russell Investments Group Ltd. raised its stake in shares of Altimmune by 1,150.9% during the 4th quarter. Russell Investments Group Ltd. now owns 4,303 shares of the company’s stock valued at $48,000 after buying an additional 3,959 shares during the last quarter. EWG Elevate Inc. lifted its holdings in shares of Altimmune by 50.0% in the 4th quarter. EWG Elevate Inc. now owns 15,000 shares of the company’s stock valued at $169,000 after buying an additional 5,000 shares during the period. Finally, Horizon Wealth Management LLC purchased a new stake in shares of Altimmune in the fourth quarter worth about $112,000. 78.05% of the stock is currently owned by hedge funds and other institutional investors.

About Altimmune

Altimmune, Inc, a clinical stage biopharmaceutical company, focuses on developing treatments for obesity and liver diseases. The company's lead product candidate, pemvidutide, a GLP-1/glucagon dual receptor agonist that is in Phase 2 trial for the treatment of obesity and metabolic dysfunction-associated steatohepatitis.