Altimmune (NASDAQ:ALT) Stock: Insider Wayne Pisano Acquires 10,000 Shares

Altimmune, Inc. (NASDAQ:ALT) Director Wayne Pisano acquired 10,000 shares of the stock in a transaction dated Friday, November 13th. The shares were bought at an average cost of $1.64 per share, for a total transaction of $16,400.00. Following the completion of the transaction, the director owned 58,800 shares in the company, valued at approximately $96,432. This represents a 20.49% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

Altimmune Stock Performance

Shares of NASDAQ:ALT traded up $0.04 during mid-day trading on Friday, reaching $1.65. 3,528,857 shares of the company traded hands, compared to its average volume of 3,885,901. The company’s 50 day moving average price is $2.58 and its 200-day moving average price is $3.15. The firm has a market cap of $319.99 million, a PE ratio of -2.28 and a beta of 0.16. The company has a debt-to-equity ratio of 0.07, a current ratio of 26.78 and a quick ratio of 26.78. Altimmune, Inc. has a 52 week low of $1.58 and a 52 week high of $6.44.

Altimmune (NASDAQ:ALT) last released its earnings results on Thursday, November 12th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). On average, equities analysts expect that Altimmune, Inc. will post -0.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ALT. Nantahala Capital Management LLC boosted its stake in Altimmune by 14.7% in the 3rd quarter. Nantahala Capital Management LLC now owns 1,720,000 shares of the company’s stock worth $4,919,000 after purchasing an additional 220,000 shares during the period. R Squared Ltd raised its position in shares of Altimmune by 99.6% during the third quarter. R Squared Ltd now owns 26,475 shares of the company’s stock valued at $76,000 after buying an additional 13,211 shares during the last quarter. StoneX Group Inc. bought a new stake in shares of Altimmune during the third quarter valued at approximately $46,000. Parallel Advisors LLC raised its position in shares of Altimmune by 21,755.0% during the third quarter. Parallel Advisors LLC now owns 8,742 shares of the company’s stock valued at $25,000 after buying an additional 8,702 shares during the last quarter. Finally, Alps Advisors Inc. lifted its holdings in shares of Altimmune by 29.6% in the third quarter. Alps Advisors Inc. now owns 255,875 shares of the company’s stock worth $732,000 after buying an additional 58,501 shares in the last quarter. 78.05% of the stock is owned by hedge funds and other institutional investors.

Altimmune News Summary

Investors following ALT have been watching these news items:

• Neutral Sentiment: B. Riley reaffirmed its Buy rating, providing supportive analyst sentiment, although the rating is not a guarantee of future performance.
• Negative Sentiment: Third-quarter loss per share was $0.15, wider than the $0.13 loss analysts expected. Higher research and development spending contributed to the miss, and commentary has raised concerns about the company’s capital needs despite its current cash runway. Earnings analysis
• Negative Sentiment: A Seeking Alpha analysis characterized pemvidutide’s development as late and capital-intensive, underscoring the risk that lengthy trials and spending could weigh on ALT before any potential product revenue. Analysis

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Evercore reissued an “outperform” rating on shares of Altimmune in a research note on Wednesday, September 23rd. Wall Street Zen cut shares of Altimmune from a “sell” rating to a “strong sell” rating in a research note on Saturday. B. Riley Financial reaffirmed a “buy” rating on shares of Altimmune in a report on Friday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Altimmune in a research note on Monday, September 21st. Finally, HC Wainwright reiterated a “buy” rating on shares of Altimmune in a research note on Tuesday, July 28th. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.33.

About Altimmune

Altimmune, Inc. is a clinical-stage biopharmaceutical company developing peptide-based treatments for obesity and liver diseases. The company is headquartered in Gaithersburg, Maryland. Its lead candidate, pemvidutide, is an investigational medicine that activates GLP-1 and glucagon receptors. Altimmune has studied the drug for obesity and metabolic dysfunction-associated steatohepatitis (MASH), a serious form of fatty liver disease. Altimmune’s work focuses on advancing treatments through clinical development; pemvidutide is not an approved medicine.