Altimmune (NASDAQ:ALT) Trading 10.7% Higher – Still a Buy?

Altimmune, Inc. (NASDAQ:ALT) rose 10.7% during trading on Tuesday . The company traded as high as $7.13 and last traded at $7.12. Approximately 1,715,799 shares were traded during trading, a decline of 56% from the average daily volume of 3,911,374 shares. The stock had previously closed at $6.43.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. B. Riley reaffirmed a “buy” rating and issued a $20.00 price target on shares of Altimmune in a research report on Monday, August 12th. Evercore ISI upgraded Altimmune to a “strong-buy” rating in a report on Friday, August 9th. Piper Sandler reiterated an “overweight” rating and issued a $25.00 price target on shares of Altimmune in a report on Friday, June 21st. Finally, HC Wainwright restated a “buy” rating and set a $12.00 price objective on shares of Altimmune in a research note on Thursday, August 22nd. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Altimmune currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.80.

Altimmune Trading Down 1.0 %

The company’s 50-day moving average is $6.71 and its 200 day moving average is $7.00. The stock has a market capitalization of $481.42 million, a PE ratio of -4.27 and a beta of 0.08.

Altimmune (NASDAQ:ALT) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.01). Altimmune had a negative net margin of 24,778.97% and a negative return on equity of 53.09%. The company had revenue of $0.01 million for the quarter. During the same quarter in the previous year, the business earned ($0.32) earnings per share. Sell-side analysts forecast that Altimmune, Inc. will post -0.54 EPS for the current fiscal year.

Insider Activity

In other Altimmune news, Director David Drutz sold 16,011 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $6.90, for a total transaction of $110,475.90. Following the sale, the director now directly owns 41,958 shares of the company’s stock, valued at approximately $289,510.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Altimmune

Large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its stake in Altimmune by 142.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 570,174 shares of the company’s stock valued at $3,791,000 after buying an additional 335,444 shares in the last quarter. Knoll Capital Management LLC lifted its position in shares of Altimmune by 183.6% in the first quarter. Knoll Capital Management LLC now owns 567,219 shares of the company’s stock valued at $5,774,000 after acquiring an additional 367,219 shares in the last quarter. Farallon Capital Management LLC boosted its stake in shares of Altimmune by 1,282.4% in 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. BBR Partners LLC increased its position in shares of Altimmune by 4.5% during the second quarter. BBR Partners LLC now owns 374,784 shares of the company’s stock worth $2,492,000 after purchasing an additional 16,271 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in Altimmune by 542.8% in the 2nd quarter. SG Americas Securities LLC now owns 254,571 shares of the company’s stock valued at $1,693,000 after purchasing an additional 214,968 shares during the last quarter. Institutional investors and hedge funds 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.