Altimmune (NASDAQ:ALT) Stock Price Up 7.5% – Here’s Why

Altimmune, Inc. (NASDAQ:ALT)’s share price rose 7.5% during mid-day trading on Wednesday . The stock traded as high as $8.03 and last traded at $8.03. Approximately 827,679 shares changed hands during trading, a decline of 79% from the average daily volume of 3,856,560 shares. The stock had previously closed at $7.47.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ALT. B. Riley reissued a “buy” rating and set a $20.00 target price on shares of Altimmune in a research note on Monday, August 12th. UBS Group assumed coverage on Altimmune in a research report on Tuesday, November 12th. They issued a “buy” rating and a $26.00 price objective for the company. Evercore ISI raised Altimmune to a “strong-buy” rating in a research note on Friday, August 9th. Finally, HC Wainwright reissued a “buy” rating and issued a $12.00 price target on shares of Altimmune in a research note on Thursday, November 14th. Two 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

Altimmune Trading Up 6.2 %

The firm has a market cap of $563.98 million, a P/E ratio of -5.14 and a beta of 0.09. The company’s 50-day moving average is $7.05 and its two-hundred day moving average is $6.91.

Altimmune (NASDAQ:ALT) last posted its earnings results on Tuesday, November 12th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.03. Altimmune had a negative net margin of 199,076.92% and a negative return on equity of 55.81%. The firm had revenue of $0.01 million for the quarter. During the same period in the prior year, the business earned ($0.39) EPS. Research analysts anticipate that Altimmune, Inc. will post -1.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Altimmune

Several hedge funds have recently modified their holdings of ALT. Farallon Capital Management LLC lifted its holdings in Altimmune by 1,282.4% during the 1st quarter. Farallon Capital Management LLC now owns 470,000 shares of the company’s stock worth $4,785,000 after purchasing an additional 436,000 shares in the last quarter. Knoll Capital Management LLC grew its position in Altimmune by 183.6% during the first quarter. Knoll Capital Management LLC now owns 567,219 shares of the company’s stock worth $5,774,000 after buying an additional 367,219 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Altimmune by 142.9% during the second quarter. Dimensional Fund Advisors LP now owns 570,174 shares of the company’s stock worth $3,791,000 after buying an additional 335,444 shares in the last quarter. Bellevue Group AG grew its position in Altimmune by 43.9% during the third quarter. Bellevue Group AG now owns 863,660 shares of the company’s stock worth $5,303,000 after buying an additional 263,660 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in Altimmune by 542.8% during the second quarter. SG Americas Securities LLC now owns 254,571 shares of the company’s stock worth $1,693,000 after buying an additional 214,968 shares in the last quarter. Institutional investors own 78.05% of the company’s stock.

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.