Altimmune (NASDAQ:ALT) Trading 8.7% Higher – Here’s Why

Altimmune, Inc. (NASDAQ:ALT) rose 8.7% on Tuesday . The company traded as high as $6.41 and last traded at $6.47. Approximately 724,862 shares were traded during trading, a decline of 74% from the average daily volume of 2,825,199 shares. The stock had previously closed at $5.95.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ALT. HC Wainwright reiterated a “buy” rating and issued a $12.00 target price on shares of Altimmune in a report on Thursday, April 3rd. Wall Street Zen upgraded Altimmune from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Finally, William Blair restated a “market perform” rating on shares of Altimmune in a report on Friday, March 14th. Two equities research 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.com, Altimmune has an average rating of “Moderate Buy” and a consensus price target of $20.20.

Altimmune Trading Down 3.0%

The firm has a 50-day simple moving average of $5.22 and a 200-day simple moving average of $6.32. The firm has a market cap of $530.44 million, a P/E ratio of -4.22 and a beta of 0.58.

Altimmune (NASDAQ:ALT) last issued its quarterly earnings data on Tuesday, May 13th. The company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.09. Altimmune had a negative return on equity of 55.81% and a negative net margin of 199,076.92%. The firm had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $0.00 million. During the same period in the prior year, the business posted ($0.34) EPS. Research analysts predict that Altimmune, Inc. will post -1.35 earnings per share for the current fiscal year.

Institutional Trading of Altimmune

Several hedge funds have recently modified their holdings of the company. Barclays PLC raised its stake in shares of Altimmune by 1.1% during the 4th quarter. Barclays PLC now owns 157,528 shares of the company’s stock worth $1,135,000 after acquiring an additional 1,787 shares in the last quarter. Rafferty Asset Management LLC grew its holdings in Altimmune by 1.3% in the fourth quarter. Rafferty Asset Management LLC now owns 157,750 shares of the company’s stock worth $1,137,000 after purchasing an additional 1,964 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Altimmune by 2.0% in the fourth quarter. JPMorgan Chase & Co. now owns 102,940 shares of the company’s stock worth $742,000 after purchasing an additional 2,028 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Altimmune by 1.2% during the first quarter. Bank of New York Mellon Corp now owns 189,000 shares of the company’s stock worth $945,000 after purchasing an additional 2,162 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Altimmune by 4.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,901 shares of the company’s stock worth $247,000 after purchasing an additional 2,241 shares in the last quarter. 78.05% of the stock is 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.