Altimmune (NASDAQ:ALT) Shares Down 7.4% – Here’s Why

Altimmune, Inc. (NASDAQ:ALT) was down 7.4% during trading on Monday . The company traded as low as $7.07 and last traded at $7.11. Approximately 2,821,397 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 3,753,479 shares. The stock had previously closed at $7.68.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ALT. B. Riley reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Altimmune in a research note on Monday, August 12th. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Altimmune in a research note on Thursday, August 22nd. Finally, Evercore ISI raised shares of Altimmune to a “strong-buy” rating in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $18.80.

Altimmune Price Performance

The company’s fifty day moving average price is $6.82 and its 200-day moving average price is $6.85. The stock has a market cap of $522.36 million, a price-to-earnings ratio of -4.89 and a beta of 0.09.

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

Insider Activity

In related news, Director David Drutz sold 16,011 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $6.90, for a total value of $110,475.90. Following the sale, the director now directly owns 41,958 shares in the company, valued at $289,510.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Altimmune

Several institutional investors and hedge funds have recently made changes to their positions in ALT. Intech Investment Management LLC acquired a new position in Altimmune in the 3rd quarter valued at about $207,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in Altimmune by 119.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 40,705 shares of the company’s stock valued at $250,000 after purchasing an additional 22,188 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in shares of Altimmune by 34.7% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 174,108 shares of the company’s stock valued at $1,069,000 after acquiring an additional 44,832 shares during the last quarter. Creative Planning increased its stake in shares of Altimmune by 20.5% during the 3rd quarter. Creative Planning now owns 18,411 shares of the company’s stock valued at $113,000 after acquiring an additional 3,132 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its stake in shares of Altimmune by 74.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 216,761 shares of the company’s stock valued at $1,331,000 after acquiring an additional 92,498 shares during the last quarter. 78.05% of the stock is currently owned by hedge funds and other institutional investors.

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.