Altimmune (NASDAQ:ALT) Shares Up 11.6% – What’s Next?

Altimmune, Inc. (NASDAQ:ALT)’s share price traded up 11.6% during mid-day trading on Wednesday . The stock traded as high as $3.13 and last traded at $3.3940. Approximately 666,507 shares traded hands during trading, a decline of 85% from the average session volume of 4,309,428 shares. The stock had previously closed at $3.04.

Analyst Ratings Changes

ALT has been the subject of several research analyst reports. HC Wainwright reiterated a “buy” rating and issued a $20.00 price objective (down from $25.00) on shares of Altimmune in a research report on Monday, May 18th. B. Riley Financial dropped their target price on Altimmune from $18.00 to $13.00 and set a “buy” rating for the company in a research report on Friday, March 6th. Wall Street Zen upgraded shares of Altimmune from a “strong sell” rating to a “sell” rating in a research report on Saturday. Citigroup restated a “market outperform” rating on shares of Altimmune in a research report on Tuesday, June 2nd. Finally, William Blair restated a “market perform” rating on shares of Altimmune in a report on Thursday, March 5th. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Altimmune has a consensus rating of “Moderate Buy” and an average target price of $15.71.

Altimmune Trading Up 6.1%

The company has a market cap of $627.36 million, a price-to-earnings ratio of -3.48 and a beta of 0.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 29.56 and a current ratio of 29.56. The firm has a fifty day moving average price of $2.90 and a 200 day moving average price of $3.70.

Altimmune (NASDAQ:ALT) last issued its earnings results on Wednesday, May 13th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.07. Altimmune had a negative return on equity of 42.57% and a negative net margin of 214,860.98%. As a group, equities analysts predict that Altimmune, Inc. will post -0.69 EPS for the current fiscal year.

Hedge Funds Weigh In On Altimmune

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALT. Arax Advisory Partners raised its stake in Altimmune by 99.7% in the fourth quarter. Arax Advisory Partners now owns 8,165 shares of the company’s stock valued at $29,000 after purchasing an additional 4,076 shares in the last quarter. SBI Securities Co. Ltd. increased its holdings in shares of Altimmune by 27.9% during the fourth quarter. SBI Securities Co. Ltd. now owns 8,837 shares of the company’s stock worth $32,000 after buying an additional 1,928 shares in the last quarter. Quantinno Capital Management LP bought a new position in Altimmune in the first quarter valued at about $33,000. Quadrature Capital Ltd bought a new stake in shares of Altimmune during the fourth quarter worth about $36,000. Finally, Victory Capital Management Inc. bought a new stake in shares of Altimmune during the third quarter worth about $38,000. 78.05% of the stock is owned by institutional investors and hedge funds.

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.