Altimmune (NASDAQ:ALT) Shares Gap Up to $6.38

Altimmune, Inc. (NASDAQ:ALT) gapped up before the market opened on Tuesday . The stock had previously closed at $6.38, but opened at $6.53. Altimmune shares last traded at $7.11, with a volume of 2,874,058 shares.

Analysts Set New Price Targets

Several research analysts recently commented on ALT shares. Piper Sandler restated an “overweight” rating and set a $25.00 target price on shares of Altimmune in a report on Friday, June 21st. 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 target on shares of Altimmune in a research note on Monday, August 12th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $12.00 price objective on shares of Altimmune in a report on Thursday, August 22nd. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.80.

Altimmune Stock Performance

The stock has a market capitalization of $503.40 million, a P/E ratio of -4.53 and a beta of 0.08. The business has a 50-day moving average price of $6.65 and a 200 day moving average price of $7.63.

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

Insider Activity at Altimmune

In other Altimmune news, Director David Drutz sold 16,011 shares of Altimmune stock in a transaction on Monday, August 19th. The stock was sold at an average price of $6.90, for a total transaction of $110,475.90. Following the completion of the sale, the director now directly owns 41,958 shares of the company’s stock, valued at approximately $289,510.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 4.10% of the stock is currently owned by company insiders.

Institutional Trading of Altimmune

Several hedge funds and other institutional investors have recently made changes to their positions in ALT. PVG Asset Management Corp acquired a new position in Altimmune during the 2nd quarter valued at approximately $154,000. B. Riley Wealth Advisors Inc. acquired a new stake in Altimmune during the 2nd quarter worth about $138,000. The Manufacturers Life Insurance Company grew its stake in Altimmune by 30.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 26,973 shares of the company’s stock valued at $179,000 after purchasing an additional 6,339 shares during the last quarter. DRW Securities LLC purchased a new position in shares of Altimmune in the second quarter worth about $112,000. Finally, XTX Topco Ltd acquired a new position in Altimmune in the 2nd quarter worth approximately $96,000. Hedge funds and other 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.