Altimmune (NASDAQ:ALT) Stock Price Down 5.1% – Should You Sell?

Altimmune, Inc. (NASDAQ:ALT)’s share price fell 5.1% during mid-day trading on Tuesday . The stock traded as low as $8.52 and last traded at $8.54. 316,980 shares changed hands during trading, a decline of 92% from the average session volume of 3,820,236 shares. The stock had previously closed at $9.00.

Wall Street Analyst Weigh In

Several brokerages recently commented on ALT. UBS Group initiated coverage on Altimmune in a research report on Tuesday, November 12th. They set a “buy” rating and a $26.00 price target for the company. HC Wainwright restated a “buy” rating and set a $12.00 price objective on shares of Altimmune in a report on Thursday, November 14th. Two 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. Based on data from MarketBeat.com, the stock 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 $600.30 million, a P/E ratio of -5.40 and a beta of 0.15. The company has a fifty day simple moving average of $7.77 and a 200-day simple moving average of $7.08.

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 the consensus estimate of ($0.35) by $0.03. The firm had revenue of $0.01 million for the quarter. Altimmune had a negative return on equity of 55.81% and a negative net margin of 199,076.92%. During the same period last year, the firm earned ($0.39) EPS. On average, analysts anticipate that Altimmune, Inc. will post -1.36 EPS for the current year.

Hedge Funds Weigh In On Altimmune

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Larson Financial Group LLC acquired a new position in shares of Altimmune during the 3rd quarter worth about $31,000. PFG Investments LLC acquired a new stake in Altimmune in the second quarter valued at $67,000. Principal Financial Group Inc. acquired a new position in shares of Altimmune during the second quarter valued at $70,000. Verus Capital Partners LLC acquired a new stake in shares of Altimmune during the second quarter valued at approximately $82,000. Finally, XTX Topco Ltd acquired a new stake in Altimmune in the 2nd quarter worth approximately $96,000. 78.05% of the stock is currently owned by hedge funds and other 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.