Altimmune (NASDAQ:ALT) Stock Price Up 7.5% – Here’s Why

Shares of Altimmune, Inc. (NASDAQ:ALT) rose 7.5% on Wednesday . The company traded as high as $8.03 and last traded at $8.03. Approximately 827,679 shares were traded during trading, a decline of 79% from the average daily volume of 3,856,560 shares. The stock had previously closed at $7.47.

Analyst Ratings Changes

ALT has been the topic of a number of recent analyst reports. B. Riley reissued a “buy” rating and set a $20.00 target price on shares of Altimmune in a report on Monday, August 12th. Evercore ISI raised Altimmune to a “strong-buy” rating in a report on Friday, August 9th. UBS Group assumed coverage on Altimmune in a report on Tuesday, November 12th. They issued a “buy” rating and a $26.00 price objective on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Altimmune in a report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.00.

Altimmune Stock Up 6.2 %

The firm has a 50 day moving average of $7.05 and a two-hundred day moving average of $6.91. The firm has a market capitalization of $563.98 million, a price-to-earnings ratio of -5.14 and a beta of 0.09.

Altimmune (NASDAQ:ALT) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.03. The business had revenue of $0.01 million for the quarter. Altimmune had a negative return on equity of 55.81% and a negative net margin of 199,076.92%. During the same period last year, the business earned ($0.39) earnings per share. Sell-side analysts forecast that Altimmune, Inc. will post -1.36 EPS for the current fiscal year.

Institutional Trading of Altimmune

A number of hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its position in Altimmune by 13.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,238 shares of the company’s stock worth $156,000 after buying an additional 1,821 shares during the period. Creative Planning lifted its holdings in shares of Altimmune by 20.5% during the third quarter. Creative Planning now owns 18,411 shares of the company’s stock worth $113,000 after purchasing an additional 3,132 shares during the period. CANADA LIFE ASSURANCE Co bought a new stake in shares of Altimmune in the first quarter worth $44,000. Charles Schwab Investment Management Inc. increased its holdings in Altimmune by 2.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 211,626 shares of the company’s stock valued at $1,299,000 after purchasing an additional 4,772 shares during the period. Finally, Larson Financial Group LLC bought a new position in Altimmune during the 3rd quarter worth $31,000. 78.05% of the stock is owned by institutional investors and hedge funds.

Altimmune Company Profile

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.