Summit Financial Wealth Advisors LLC Increases Stock Position in Altimmune, Inc. (NASDAQ:ALT)

Summit Financial Wealth Advisors LLC raised its holdings in shares of Altimmune, Inc. (NASDAQ:ALT) by 65.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 45,918 shares of the company’s stock after purchasing an additional 18,113 shares during the period. Summit Financial Wealth Advisors LLC’s holdings in Altimmune were worth $282,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. CANADA LIFE ASSURANCE Co purchased a new stake in shares of Altimmune during the first quarter valued at $44,000. Larson Financial Group LLC bought a new position in Altimmune during the 3rd quarter valued at about $31,000. Horizon Wealth Management LLC purchased a new stake in shares of Altimmune during the 2nd quarter valued at about $66,000. PFG Investments LLC bought a new stake in shares of Altimmune in the second quarter worth approximately $67,000. Finally, Principal Financial Group Inc. purchased a new position in shares of Altimmune during the second quarter valued at approximately $70,000. Hedge funds and other institutional investors own 78.05% of the company’s stock.

Analysts Set New Price Targets

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

Altimmune Stock Down 1.3 %

NASDAQ ALT opened at $8.57 on Tuesday. The stock’s 50-day moving average price is $7.13 and its 200-day moving average price is $6.94. The company has a market capitalization of $609.50 million, a P/E ratio of -5.53 and a beta of 0.09. Altimmune, Inc. has a 52 week low of $2.76 and a 52 week high of $14.84.

Altimmune (NASDAQ:ALT) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.32) earnings per share 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 net margin of 199,076.92% and a negative return on equity of 55.81%. During the same quarter in the previous year, the company earned ($0.39) earnings per share. Research analysts anticipate that Altimmune, Inc. will post -1.36 EPS for the current year.

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.