Altimmune (NASDAQ:ALT) Trading 3.7% Higher

Altimmune, Inc. (NASDAQ:ALT)’s stock price rose 3.7% during mid-day trading on Friday . The company traded as high as $7.85 and last traded at $7.85. Approximately 553,499 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 4,088,887 shares. The stock had previously closed at $7.57.

Analyst Upgrades and Downgrades

ALT has been the subject of several recent analyst reports. HC Wainwright restated a “buy” rating and set a $12.00 target price on shares of Altimmune in a research note on Thursday, August 22nd. B. Riley restated a “buy” rating and issued a $20.00 price objective on shares of Altimmune in a research note on Monday, August 12th. Evercore ISI raised shares of Altimmune to a “strong-buy” rating in a report on Friday, August 9th. Finally, Piper Sandler restated an “overweight” rating and issued a $25.00 price target on shares of Altimmune in a research report on Friday, June 21st. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $18.80.

Altimmune Stock Performance

The stock has a market cap of $533.89 million, a P/E ratio of -4.76 and a beta of 0.08. The company has a 50-day simple moving average of $6.71 and a 200-day simple moving average of $7.46.

Altimmune (NASDAQ:ALT) last announced its earnings results on Thursday, August 8th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.01). Altimmune had a negative return on equity of 53.09% and a negative net margin of 24,778.97%. The company had revenue of $0.01 million during the quarter. During the same period in the previous year, the company posted ($0.32) earnings per share. As a group, sell-side analysts expect that Altimmune, Inc. will post -0.54 earnings per share for the current fiscal year.

Insider Activity

In other news, Director David Drutz sold 16,011 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $6.90, for a total value of $110,475.90. Following the transaction, the director now owns 41,958 shares of the company’s stock, valued at approximately $289,510.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 4.10% of the company’s stock.

Institutional Trading of Altimmune

Large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in Altimmune by 142.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 570,174 shares of the company’s stock worth $3,791,000 after purchasing an additional 335,444 shares in the last quarter. Knoll Capital Management LLC raised its holdings in shares of Altimmune by 183.6% during the first quarter. Knoll Capital Management LLC now owns 567,219 shares of the company’s stock worth $5,774,000 after acquiring an additional 367,219 shares during the period. Farallon Capital Management LLC raised its holdings in shares of Altimmune by 1,282.4% during the first 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. Lighthouse Investment Partners LLC bought a new stake in Altimmune in the 4th quarter valued at $4,493,000. Finally, BBR Partners LLC boosted its stake in Altimmune by 4.5% in the 2nd quarter. BBR Partners LLC now owns 374,784 shares of the company’s stock worth $2,492,000 after purchasing an additional 16,271 shares during the period. Institutional investors own 78.05% of the company’s stock.

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.