Altimmune (NASDAQ:ALT) Trading 5.9% Higher – Time to Buy?

Altimmune, Inc. (NASDAQ:ALT) shares shot up 5.9% on Tuesday . The company traded as high as $9.41 and last traded at $9.37. 1,110,311 shares traded hands during trading, a decline of 71% from the average session volume of 3,814,385 shares. The stock had previously closed at $8.85.

Analyst Ratings Changes

ALT has been the topic of a number of recent research reports. 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 reiterated a “buy” rating and issued a $12.00 price objective on shares of Altimmune in a report on Thursday, November 14th. UBS Group initiated coverage on Altimmune in a report on Tuesday, November 12th. They set a “buy” rating and a $26.00 target price on the stock. Finally, Evercore ISI upgraded 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 given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

Altimmune Price Performance

The company has a market cap of $620.17 million, a P/E ratio of -6.09 and a beta of 0.15. The company’s 50-day moving average price is $7.21 and its 200-day moving average price is $6.96.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC lifted its position in Altimmune by 4.7% during the third quarter. Geode Capital Management LLC now owns 1,668,004 shares of the company’s stock worth $10,244,000 after acquiring an additional 74,194 shares during the last quarter. Bellevue Group AG increased its holdings in Altimmune by 43.9% in the 3rd quarter. Bellevue Group AG now owns 863,660 shares of the company’s stock valued at $5,303,000 after buying an additional 263,660 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Altimmune by 142.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 570,174 shares of the company’s stock valued at $3,791,000 after buying an additional 335,444 shares in the last quarter. BBR Partners LLC lifted its holdings in shares of Altimmune by 4.5% during the 2nd quarter. BBR Partners LLC now owns 374,784 shares of the company’s stock worth $2,492,000 after acquiring an additional 16,271 shares during the period. Finally, SG Americas Securities LLC boosted its position in shares of Altimmune by 542.8% during the 2nd quarter. SG Americas Securities LLC now owns 254,571 shares of the company’s stock worth $1,693,000 after acquiring an additional 214,968 shares in the last quarter. 78.05% of the stock is currently owned by institutional investors.

About Altimmune

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.