Altimmune (NASDAQ:ALT) Sets New 52-Week Low – Here’s What Happened

Altimmune, Inc. (NASDAQ:ALT)’s stock price reached a new 52-week low during trading on Thursday. The company traded as low as $2.55 and last traded at $2.5750, with a volume of 2028174 shares trading hands. The stock had previously closed at $2.66.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ALT. Evercore reiterated an “outperform” rating on shares of Altimmune in a report on Wednesday, September 23rd. HC Wainwright reissued a “buy” rating on shares of Altimmune in a research note on Tuesday, July 28th. Wall Street Zen raised Altimmune from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Altimmune in a research report on Monday, September 21st. Finally, Leerink Partners started coverage on Altimmune in a research report on Monday, June 22nd. They issued an “outperform” rating and a $10.00 target price for the company. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Altimmune presently has an average rating of “Moderate Buy” and a consensus target price of $14.33.

Altimmune Trading Down 2.8%

The company has a quick ratio of 26.78, a current ratio of 26.78 and a debt-to-equity ratio of 0.07. The firm’s 50-day moving average price is $3.08 and its 200 day moving average price is $3.03. The company has a market capitalization of $502.83 million, a P/E ratio of -3.30 and a beta of 0.06.

Altimmune (NASDAQ:ALT) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.02. As a group, equities research analysts predict that Altimmune, Inc. will post -0.58 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC purchased a new position in shares of Altimmune in the 2nd quarter worth approximately $98,000. WINTON GROUP Ltd purchased a new position in Altimmune in the second quarter worth $49,000. Squarepoint Ops LLC grew its stake in Altimmune by 1,016.5% in the 2nd quarter. Squarepoint Ops LLC now owns 202,380 shares of the company’s stock valued at $615,000 after purchasing an additional 184,254 shares during the period. Corient Private Wealth LP grew its stake in Altimmune by 77.5% in the 2nd quarter. Corient Private Wealth LP now owns 54,226 shares of the company’s stock valued at $165,000 after purchasing an additional 23,673 shares during the period. Finally, Syon Capital LLC purchased a new stake in shares of Altimmune during the 2nd quarter valued at $52,000. 78.05% of the stock is currently owned by hedge funds and other institutional investors.

Altimmune Company Profile

Altimmune, Inc (NASDAQ:ALT) is a clinical-stage biotechnology company developing peptide-based therapeutics for metabolic and liver diseases. The company’s lead product candidate is pemvidutide, an investigational dual GLP-1 and glucagon receptor agonist being studied for chronic weight management and metabolic dysfunction-associated steatohepatitis (MASH), formerly known as nonalcoholic steatohepatitis (NASH).

Altimmune’s development programs are focused on addressing obesity, related metabolic conditions and chronic liver disease.