Altimmune (NASDAQ:ALT) Stock Price Up 7.6% Following Strong Earnings

Altimmune, Inc. (NASDAQ:ALT) rose 7.6% on Wednesday following a stronger than expected earnings report. The stock traded as high as $10.50 and last traded at $10.21. Approximately 1,160,714 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 3,818,485 shares. The stock had previously closed at $9.49.

The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.03. The company had revenue of $0.01 million during the quarter. Altimmune had a negative return on equity of 52.60% and a negative net margin of 199,076.92%. During the same quarter last year, the business earned ($0.39) EPS.

Analyst Ratings Changes

Several equities research analysts have weighed in on ALT shares. Evercore ISI raised Altimmune to a “strong-buy” rating in a research report on Friday, August 9th. HC Wainwright reissued a “buy” rating and issued a $12.00 target price on shares of Altimmune in a research note on Thursday, August 22nd. B. Riley reissued a “buy” rating and issued a $20.00 target price on shares of Altimmune in a research note on Monday, August 12th. Finally, UBS Group initiated coverage on shares of Altimmune in a research report on Tuesday. They set a “buy” rating and a $26.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

Insider Activity at Altimmune

In other Altimmune news, Director David Drutz sold 16,011 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $6.90, for a total value of $110,475.90. Following the completion of the transaction, the director now owns 41,958 shares in the company, valued at $289,510.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 4.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Altimmune

Institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in Altimmune by 142.9% in the second quarter. Dimensional Fund Advisors LP now owns 570,174 shares of the company’s stock valued at $3,791,000 after acquiring an additional 335,444 shares during the last quarter. Knoll Capital Management LLC grew its position in shares of Altimmune by 183.6% in the first quarter. Knoll Capital Management LLC now owns 567,219 shares of the company’s stock valued at $5,774,000 after purchasing an additional 367,219 shares during the last quarter. Farallon Capital Management LLC grew its position in shares of Altimmune by 1,282.4% in the first quarter. Farallon Capital Management LLC now owns 470,000 shares of the company’s stock valued at $4,785,000 after purchasing an additional 436,000 shares during the last quarter. BBR Partners LLC lifted its stake in shares of Altimmune by 4.5% during the second quarter. BBR Partners LLC now owns 374,784 shares of the company’s stock valued at $2,492,000 after buying an additional 16,271 shares during the period. Finally, SG Americas Securities LLC lifted its stake in shares of Altimmune by 542.8% during the second quarter. SG Americas Securities LLC now owns 254,571 shares of the company’s stock valued at $1,693,000 after buying an additional 214,968 shares during the period. Institutional investors and hedge funds own 78.05% of the company’s stock.

Altimmune Stock Up 0.3 %

The firm has a market cap of $676.59 million, a PE ratio of -6.14 and a beta of 0.09. The firm’s 50 day moving average is $6.95 and its 200-day moving average is $6.89.

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.