Altimmune (NASDAQ:ALT) Stock Price Up 6.4%

Shares of Altimmune, Inc. (NASDAQ:ALT) rose 6.4% on Wednesday . The company traded as high as $7.53 and last traded at $7.34. Approximately 2,322,961 shares were traded during mid-day trading, a decline of 51% from the average daily volume of 4,719,188 shares. The stock had previously closed at $6.90.

Wall Street Analyst Weigh In

ALT has been the topic of a number of recent analyst reports. Guggenheim lowered Altimmune from a “buy” rating to a “neutral” rating in a research note on Monday, April 29th. HC Wainwright reiterated a “buy” rating and issued a $12.00 target price on shares of Altimmune in a research note on Tuesday, May 14th. JMP Securities reduced their target price on Altimmune from $25.00 to $24.00 and set a “market outperform” rating on the stock in a research note on Friday, May 10th. B. Riley reiterated a “buy” rating and issued a $20.00 target price on shares of Altimmune in a research note on Tuesday, June 25th. Finally, Piper Sandler restated an “overweight” rating and issued a $25.00 price objective on shares of Altimmune in a report on Friday, June 21st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.80.

Altimmune Stock Up 6.5 %

The stock’s 50 day moving average is $7.04 and its two-hundred day moving average is $8.75. The company has a market capitalization of $521.12 million, a PE ratio of -4.62 and a beta of 0.13.

Altimmune (NASDAQ:ALT) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.02. The business had revenue of $0.01 million during the quarter. Altimmune had a negative net margin of 22,645.37% and a negative return on equity of 46.96%. During the same period in the previous year, the company posted ($0.40) earnings per share. On average, sell-side analysts predict that Altimmune, Inc. will post -1.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Altimmune

A number of large investors have recently modified their holdings of ALT. Timelo Investment Management Inc. grew its stake in shares of Altimmune by 2,597.0% during the fourth quarter. Timelo Investment Management Inc. now owns 809,095 shares of the company’s stock worth $9,102,000 after acquiring an additional 779,095 shares during the last quarter. Farallon Capital Management LLC grew its stake in shares of Altimmune by 1,282.4% during the first quarter. Farallon Capital Management LLC now owns 470,000 shares of the company’s stock worth $4,785,000 after acquiring an additional 436,000 shares during the last quarter. Lighthouse Investment Partners LLC purchased a new stake in shares of Altimmune during the fourth quarter worth about $4,493,000. Knoll Capital Management LLC grew its stake in shares of Altimmune by 183.6% during the first quarter. Knoll Capital Management LLC now owns 567,219 shares of the company’s stock worth $5,774,000 after acquiring an additional 367,219 shares during the last quarter. Finally, Gerber LLC purchased a new stake in shares of Altimmune during the fourth quarter worth about $2,878,000. Hedge funds and other institutional investors own 78.05% of the company’s stock.

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.