E Fund Management Co. Ltd. Cuts Stock Position in Altimmune, Inc. (NASDAQ:ALT)

E Fund Management Co. Ltd. cut its holdings in shares of Altimmune, Inc. (NASDAQ:ALT) by 67.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,458 shares of the company’s stock after selling 28,251 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Altimmune were worth $89,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ALT. North Star Investment Management Corp. purchased a new position in shares of Altimmune during the first quarter valued at about $31,000. CANADA LIFE ASSURANCE Co purchased a new position in Altimmune during the 1st quarter valued at approximately $44,000. Russell Investments Group Ltd. increased its stake in Altimmune by 1,150.9% in the 4th quarter. Russell Investments Group Ltd. now owns 4,303 shares of the company’s stock worth $48,000 after acquiring an additional 3,959 shares during the last quarter. TFO Wealth Partners LLC purchased a new stake in shares of Altimmune during the 1st quarter worth approximately $51,000. Finally, Horizon Wealth Management LLC purchased a new stake in shares of Altimmune during the 2nd quarter worth approximately $66,000. 78.05% of the stock is currently owned by hedge funds and other institutional investors.

Altimmune Trading Up 1.9 %

Shares of NASDAQ:ALT opened at $7.57 on Friday. Altimmune, Inc. has a 12 month low of $2.09 and a 12 month high of $14.84. The company has a market capitalization of $536.73 million, a price-to-earnings ratio of -4.75 and a beta of 0.08. The firm’s 50-day moving average is $6.71 and its 200 day moving average is $7.46.

Altimmune (NASDAQ:ALT) last released its earnings results on Thursday, August 8th. The company reported ($0.35) EPS 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 business had revenue of $0.01 million for the quarter. During the same quarter last year, the company posted ($0.32) earnings per share. As a group, equities analysts forecast that Altimmune, Inc. will post -0.54 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ALT shares. HC Wainwright reissued a “buy” rating and issued a $12.00 target price on shares of Altimmune in a report on Thursday, August 22nd. Evercore ISI upgraded shares of Altimmune to a “strong-buy” rating in a report on Friday, August 9th. B. Riley reaffirmed a “buy” rating and issued a $20.00 price target on shares of Altimmune in a report on Monday, August 12th. Finally, Piper Sandler reiterated 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.80.

Insider Transactions at Altimmune

In related news, Director David Drutz sold 16,011 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were 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 legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.10% of the company’s stock.

Altimmune 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.