Altimmune (NASDAQ:ALT) Trading 4.7% Higher – Time to Buy?

Altimmune, Inc. (NASDAQ:ALT) shares traded up 4.7% during trading on Thursday . The stock traded as high as $8.33 and last traded at $8.27. 1,143,669 shares were traded during trading, a decline of 70% from the average session volume of 3,822,978 shares. The stock had previously closed at $7.90.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ALT. UBS Group started coverage on shares of Altimmune in a report on Tuesday, November 12th. They issued a “buy” rating and a $26.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price target on shares of Altimmune in a research report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $20.00.

Altimmune Trading Up 5.1 %

The stock has a fifty day simple moving average of $7.85 and a 200-day simple moving average of $7.09. The company has a market capitalization of $590.34 million, a PE ratio of -5.35 and a beta of 0.15.

Altimmune (NASDAQ:ALT) last announced its earnings results on Tuesday, November 12th. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.03. Altimmune had a negative net margin of 199,076.92% and a negative return on equity of 55.81%. The business had revenue of $0.01 million during the quarter. During the same quarter last year, the company posted ($0.39) EPS. As a group, equities research analysts predict that Altimmune, Inc. will post -1.36 EPS for the current year.

Institutional Trading of Altimmune

Several large investors have recently modified their holdings of the business. Larson Financial Group LLC purchased a new stake in shares of Altimmune in the third quarter valued at $31,000. PFG Investments LLC purchased a new position in Altimmune during the second quarter worth approximately $67,000. Principal Financial Group Inc. acquired a new position in shares of Altimmune in the 2nd quarter valued at $70,000. Verus Capital Partners LLC purchased a new stake in shares of Altimmune during the 2nd quarter valued at $82,000. Finally, XTX Topco Ltd acquired a new stake in shares of Altimmune during the 2nd quarter worth $96,000. 78.05% of the stock is currently owned by institutional investors and hedge funds.

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.