Altimmune (NASDAQ:ALT) Shares Up 7.8%

Altimmune, Inc. (NASDAQ:ALT)’s stock price shot up 7.8% during mid-day trading on Monday . The company traded as high as $7.31 and last traded at $7.17. 1,816,286 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 4,789,561 shares. The stock had previously closed at $6.65.

Wall Street Analysts Forecast Growth

ALT has been the subject of a number of research reports. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Altimmune in a report on Tuesday, May 14th. Guggenheim downgraded shares of Altimmune from a “buy” rating to a “neutral” rating in a report on Monday, April 29th. Piper Sandler reissued an “overweight” rating and set a $25.00 price target on shares of Altimmune in a report on Friday, June 21st. JMP Securities reduced their price objective on shares of 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 reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Altimmune in a report on Tuesday, June 25th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Altimmune presently has an average rating of “Moderate Buy” and a consensus target price of $18.80.

Altimmune Trading Down 6.4 %

The business has a fifty day moving average price of $7.06 and a 200 day moving average price of $8.81.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. GSA Capital Partners LLP boosted its holdings in Altimmune by 153.1% in the third quarter. GSA Capital Partners LLP now owns 445,868 shares of the company’s stock valued at $1,159,000 after acquiring an additional 269,676 shares during the last quarter. WealthPlan Investment Management LLC bought a new position in Altimmune in the third quarter valued at about $31,000. EWG Elevate Inc. boosted its holdings in Altimmune by 50.0% in the fourth quarter. EWG Elevate Inc. now owns 15,000 shares of the company’s stock valued at $169,000 after acquiring an additional 5,000 shares during the last quarter. Allied Investment Advisors LLC bought a new position in Altimmune in the fourth quarter valued at about $274,000. Finally, FNY Investment Advisers LLC bought a new position in Altimmune during the fourth quarter worth about $35,000. 78.05% of the stock is currently owned by institutional investors and hedge funds.

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.