B. Riley Has Negative Outlook of Altimmune FY2024 Earnings

Altimmune, Inc. (NASDAQ:ALT) – B. Riley dropped their FY2024 earnings estimates for Altimmune in a research note issued to investors on Wednesday, November 13th. B. Riley analyst M. Mamtani now anticipates that the company will post earnings of ($1.40) per share for the year, down from their prior estimate of $1.96. B. Riley has a “Buy” rating and a $20.00 price objective on the stock. The consensus estimate for Altimmune’s current full-year earnings is ($0.54) per share. B. Riley also issued estimates for Altimmune’s Q4 2024 earnings at ($0.39) EPS, Q2 2025 earnings at $2.33 EPS, Q3 2025 earnings at ($0.54) EPS and Q4 2025 earnings at ($0.64) EPS.

A number of other equities analysts have also recently weighed in on the stock. Evercore ISI raised shares of Altimmune to a “strong-buy” rating in a research report on Friday, August 9th. HC Wainwright restated a “buy” rating and set a $12.00 price objective on shares of Altimmune in a research note on Thursday. Finally, UBS Group began coverage on Altimmune in a report on Tuesday. They set a “buy” rating and a $26.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Altimmune has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Altimmune Price Performance

NASDAQ:ALT opened at $7.61 on Friday. The business’s 50-day moving average is $7.02 and its two-hundred day moving average is $6.91. The firm has a market capitalization of $541.22 million, a PE ratio of -4.91 and a beta of 0.09. Altimmune has a 12 month low of $2.34 and a 12 month high of $14.84.

Altimmune (NASDAQ:ALT) last released its earnings results on Tuesday, November 12th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.03. Altimmune had a negative net margin of 199,076.92% and a negative return on equity of 55.81%. The firm had revenue of $0.01 million during the quarter. During the same quarter in the previous year, the firm posted ($0.39) earnings per share.

Insider Buying and Selling

In other news, Director David Drutz sold 16,011 shares of the firm’s 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 completion of the sale, the director now owns 41,958 shares of the company’s stock, valued at $289,510.20. This trade represents a 27.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 4.10% of the company’s stock.

Institutional Trading of Altimmune

Several hedge funds and other institutional investors have recently modified their holdings of ALT. Farallon Capital Management LLC grew its holdings in Altimmune by 1,282.4% during 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. Knoll Capital Management LLC raised its holdings in Altimmune by 183.6% in the 1st 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. Dimensional Fund Advisors LP lifted its position 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 acquiring an additional 335,444 shares during the last quarter. Bellevue Group AG boosted its holdings in Altimmune by 43.9% during the third quarter. Bellevue Group AG now owns 863,660 shares of the company’s stock valued at $5,303,000 after acquiring an additional 263,660 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in 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 acquiring an additional 214,968 shares during the period. 78.05% of the stock is currently owned by hedge funds and other institutional investors.

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.