Altimmune (NASDAQ:ALT) Trading 4.4% Higher – Here’s Why

Altimmune, Inc. (NASDAQ:ALT) shares rose 4.4% on Tuesday . The company traded as high as $9.23 and last traded at $8.95. Approximately 416,929 shares were traded during trading, a decline of 89% from the average daily volume of 3,845,229 shares. The stock had previously closed at $8.57.

Analyst Ratings Changes

A number of equities analysts have issued reports on ALT shares. Evercore ISI raised shares of Altimmune to a “strong-buy” rating in a research note on Friday, August 9th. B. Riley reaffirmed a “buy” rating and set a $20.00 price objective on shares of Altimmune in a research note on Monday, August 12th. HC Wainwright reiterated a “buy” rating and issued a $12.00 price objective on shares of Altimmune in a report on Thursday, November 14th. Finally, UBS Group initiated coverage on Altimmune in a research note on Tuesday, November 12th. They issued a “buy” rating and a $26.00 price target for the company. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Altimmune presently has an average rating of “Moderate Buy” and an average price target of $20.00.

Altimmune Price Performance

The company has a market cap of $628.70 million, a price-to-earnings ratio of -5.53 and a beta of 0.09. The stock has a 50-day moving average price of $7.13 and a 200 day moving average price of $6.94.

Altimmune (NASDAQ:ALT) last posted its earnings results on Tuesday, November 12th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.03. The business had revenue of $0.01 million during 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 in the previous year, the company posted ($0.39) earnings per share. Sell-side analysts expect that Altimmune, Inc. will post -1.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Altimmune

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALT. Larson Financial Group LLC bought a new stake in shares of Altimmune in the third quarter valued at about $31,000. CANADA LIFE ASSURANCE Co acquired a new stake in Altimmune in the 1st quarter valued at approximately $44,000. Horizon Wealth Management LLC bought a new stake in Altimmune in the 2nd quarter valued at approximately $66,000. PFG Investments LLC acquired a new position in Altimmune during the 2nd quarter worth approximately $67,000. Finally, Principal Financial Group Inc. bought a new position in shares of Altimmune during the 2nd quarter worth approximately $70,000. 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.