PVG Asset Management Corp Purchases New Stake in Altimmune, Inc. (NASDAQ:ALT)

PVG Asset Management Corp bought a new position in Altimmune, Inc. (NASDAQ:ALT) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 23,121 shares of the company’s stock, valued at approximately $154,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Sectoral Asset Management Inc. acquired a new position in Altimmune during the 4th quarter worth $1,922,000. Lighthouse Investment Partners LLC acquired a new position in Altimmune during the 4th quarter worth $4,493,000. Pennant Investors LP bought a new position in Altimmune in the fourth quarter valued at about $1,235,000. Gerber LLC acquired a new stake in shares of Altimmune during the 4th quarter worth approximately $2,878,000. Finally, Commonwealth Equity Services LLC raised its position in shares of Altimmune by 31.5% during the 1st quarter. Commonwealth Equity Services LLC now owns 79,945 shares of the company’s stock valued at $814,000 after acquiring an additional 19,172 shares during the last quarter. 78.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Altimmune Trading Down 5.1 %

Shares of ALT stock opened at $6.14 on Tuesday. The business’s 50-day moving average price is $6.67 and its 200-day moving average price is $7.23. The firm has a market capitalization of $435.34 million, a price-to-earnings ratio of -3.86 and a beta of 0.08. Altimmune, Inc. has a 12 month low of $2.09 and a 12 month high of $14.84.

Altimmune (NASDAQ:ALT) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.35) earnings per share (EPS) 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 for the quarter. During the same period last year, the business earned ($0.32) EPS. On average, sell-side analysts predict that Altimmune, Inc. will post -0.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Altimmune

In other Altimmune news, Director David Drutz sold 16,011 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $6.90, for a total transaction of $110,475.90. Following the transaction, the director now directly owns 41,958 shares in the company, valued at approximately $289,510.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 4.10% 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.