Altimmune (NASDAQ:ALT) Shares Gap Up to $6.41

Shares of Altimmune, Inc. (NASDAQ:ALT) gapped up prior to trading on Monday . The stock had previously closed at $6.41, but opened at $7.47. Altimmune shares last traded at $7.70, with a volume of 6,530,264 shares trading hands.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Piper Sandler reissued an “overweight” rating and issued a $25.00 target price on shares of Altimmune in a research note on Friday. Guggenheim lowered shares of Altimmune from a “buy” rating to a “neutral” rating in a research note on Monday, April 29th. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 target price on shares of Altimmune in a report on Tuesday, May 14th. JMP Securities reduced their price target on Altimmune from $25.00 to $24.00 and set a “market outperform” rating for the company in a report on Friday, May 10th. Finally, B. Riley restated a “buy” rating and issued a $20.00 price objective on shares of Altimmune in a research note on Thursday, March 28th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $18.80.

Altimmune Stock Performance

The company’s fifty day simple moving average is $7.12 and its two-hundred day simple moving average is $8.79. The stock has a market capitalization of $555.15 million, a P/E ratio of -4.84 and a beta of 0.11.

Altimmune (NASDAQ:ALT) last posted its earnings results on Thursday, May 9th. The company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.02. The company had revenue of $0.01 million for the quarter. Altimmune had a negative return on equity of 46.96% and a negative net margin of 22,645.37%. During the same period in the previous year, the company posted ($0.40) EPS. On average, research analysts predict that Altimmune, Inc. will post -1.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Altimmune

Hedge funds have recently bought and sold shares of the business. Timelo Investment Management Inc. raised its holdings in Altimmune by 2,597.0% in the 4th quarter. Timelo Investment Management Inc. now owns 809,095 shares of the company’s stock valued at $9,102,000 after acquiring an additional 779,095 shares in the last quarter. Knoll Capital Management LLC raised its position in shares of Altimmune by 183.6% in the 1st quarter. Knoll Capital Management LLC now owns 567,219 shares of the company’s stock valued at $5,774,000 after buying an additional 367,219 shares in the last quarter. Farallon Capital Management LLC lifted its holdings in shares of Altimmune by 1,282.4% during the 1st quarter. Farallon Capital Management LLC now owns 470,000 shares of the company’s stock worth $4,785,000 after acquiring an additional 436,000 shares during the period. GSA Capital Partners LLP boosted its position in shares of Altimmune by 153.1% during the 3rd quarter. GSA Capital Partners LLP now owns 445,868 shares of the company’s stock worth $1,159,000 after acquiring an additional 269,676 shares in the last quarter. Finally, Lighthouse Investment Partners LLC acquired a new stake in shares of Altimmune during the 4th quarter worth approximately $4,493,000. 78.05% of the stock is owned by institutional investors.

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.