Farallon Capital Management LLC Trims Position in Altimmune, Inc. (NASDAQ:ALT)

Farallon Capital Management LLC lessened its holdings in shares of Altimmune, Inc. (NASDAQ:ALT) by 94.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 27,600 shares of the company’s stock after selling 442,400 shares during the quarter. Farallon Capital Management LLC’s holdings in Altimmune were worth $184,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its stake in shares of Altimmune by 13.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 15,238 shares of the company’s stock valued at $156,000 after acquiring an additional 1,821 shares in the last quarter. North Star Investment Management Corp. acquired a new stake in shares of Altimmune during the first quarter valued at about $31,000. CANADA LIFE ASSURANCE Co acquired a new stake in shares of Altimmune during the first quarter valued at about $44,000. TFO Wealth Partners LLC acquired a new stake in shares of Altimmune during the first quarter valued at about $51,000. Finally, Arizona State Retirement System grew its stake in shares of Altimmune by 34.4% during the second quarter. Arizona State Retirement System now owns 19,847 shares of the company’s stock valued at $132,000 after acquiring an additional 5,081 shares in the last quarter. Hedge funds and other institutional investors own 78.05% of the company’s stock.

Insider Transactions at Altimmune

In related news, Director David Drutz sold 16,011 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $6.90, for a total transaction of $110,475.90. Following the completion of the sale, the director now owns 41,958 shares in the company, valued at approximately $289,510.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 4.10% of the stock is owned by insiders.

Altimmune Trading Down 7.6 %

ALT stock opened at $7.20 on Tuesday. The firm has a market cap of $510.49 million, a PE ratio of -4.53 and a beta of 0.08. The company has a fifty day simple moving average of $6.70 and a 200 day simple moving average of $7.36. Altimmune, Inc. has a 1 year low of $2.09 and a 1 year high of $14.84.

Altimmune (NASDAQ:ALT) last issued its quarterly 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 net margin of 24,778.97% and a negative return on equity of 53.09%. The company had revenue of $0.01 million during the quarter. During the same period in the previous year, the business posted ($0.32) earnings per share. As a group, analysts forecast that Altimmune, Inc. will post -0.54 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ALT. Evercore ISI upgraded Altimmune to a “strong-buy” rating in a research note on Friday, August 9th. B. Riley restated a “buy” rating and issued a $20.00 target price on shares of Altimmune in a research note on Monday, August 12th. HC Wainwright restated a “buy” rating and issued a $12.00 target price on shares of Altimmune in a research note on Thursday, August 22nd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $25.00 price target on shares of Altimmune in a report on Friday, June 21st. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $18.80.

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.