Altimmune (NASDAQ:ALT) Trading Up 7% – What’s Next?

Shares of Altimmune, Inc. (NASDAQ:ALT) traded up 7% on Wednesday . The company traded as high as $3.25 and last traded at $3.3050. 672,482 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 4,310,293 shares. The stock had previously closed at $3.09.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. HC Wainwright reiterated a “buy” rating on shares of Altimmune in a research report on Tuesday, July 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Altimmune in a research report on Wednesday, June 24th. Citigroup reaffirmed a “market outperform” rating on shares of Altimmune in a report on Tuesday, June 2nd. Wall Street Zen raised shares of Altimmune from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 27th. Finally, Leerink Partners began coverage on Altimmune in a research report on Monday, June 22nd. They set an “outperform” rating and a $10.00 price objective for the company. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.33.

Altimmune Price Performance

The company has a market capitalization of $628.30 million, a price-to-earnings ratio of -4.14 and a beta of 0.18. The company has a fifty day simple moving average of $3.01 and a two-hundred day simple moving average of $3.19. The company has a debt-to-equity ratio of 0.07, a quick ratio of 26.78 and a current ratio of 26.78.

Altimmune (NASDAQ:ALT) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.02. Altimmune had a negative return on equity of 31.41% and a negative net margin of 214,860.98%. As a group, research analysts anticipate that Altimmune, Inc. will post -0.58 earnings per share for the current year.

Institutional Trading of Altimmune

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALT. Corient Private Wealth LP lifted its holdings in shares of Altimmune by 77.5% during the 2nd quarter. Corient Private Wealth LP now owns 54,226 shares of the company’s stock worth $165,000 after acquiring an additional 23,673 shares during the period. Syon Capital LLC purchased a new stake in Altimmune in the second quarter valued at approximately $52,000. AXQ Capital LP grew its holdings in Altimmune by 19.0% in the second quarter. AXQ Capital LP now owns 56,810 shares of the company’s stock valued at $173,000 after purchasing an additional 9,058 shares during the period. Wellington Management Group LLP increased its position in Altimmune by 69.4% during the second quarter. Wellington Management Group LLP now owns 420,300 shares of the company’s stock worth $1,278,000 after purchasing an additional 172,142 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Altimmune during the second quarter worth approximately $2,097,000. Hedge funds and other institutional investors own 78.05% of the company’s stock.

Altimmune Company Profile

Altimmune, Inc is a clinical-stage biopharmaceutical company headquartered in Gaithersburg, Maryland, dedicated to the development of vaccines and immunotherapeutics. The company leverages proprietary technology platforms to create intranasal vaccine candidates and novel therapies targeting liver diseases and metabolic disorders. Altimmune’s approach emphasizes the stimulation of both systemic and mucosal immune responses to address unmet medical needs in infectious and chronic conditions.

Among its lead programs, NasoVAX is an investigational intranasal influenza vaccine designed to provide broad, long-lasting protection through a single, non-invasive dose.