Summit Financial Wealth Advisors LLC Grows Stock Position in Altimmune, Inc. (NASDAQ:ALT)

by · The Cerbat Gem

Summit Financial Wealth Advisors LLC boosted its stake in shares of Altimmune, Inc. (NASDAQ:ALT – Free Report) by 65.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,918 shares of the company’s stock after acquiring an additional 18,113 shares during the quarter. Summit Financial Wealth Advisors LLC owned 0.06% of Altimmune worth $282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of ALT. Larson Financial Group LLC purchased a new position in shares of Altimmune in the third quarter valued at about $31,000. CANADA LIFE ASSURANCE Co bought a new stake in shares of Altimmune in the first quarter worth about $44,000. Horizon Wealth Management LLC purchased a new position in Altimmune during the 2nd quarter valued at about $66,000. PFG Investments LLC bought a new position in Altimmune during the 2nd quarter valued at approximately $67,000. Finally, Principal Financial Group Inc. purchased a new stake in Altimmune in the 2nd quarter worth approximately $70,000. 78.05% of the stock is currently owned by institutional investors.

Altimmune Stock Down 1.3 %

Shares of ALT opened at $8.57 on Tuesday. The stock has a market cap of $609.50 million, a P/E ratio of -5.53 and a beta of 0.09. The business’s 50 day moving average price is $7.13 and its 200-day moving average price is $6.94. Altimmune, Inc. has a 52 week low of $2.76 and a 52 week high of $14.84.

Altimmune (NASDAQ:ALT – Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.03. The business had revenue of $0.01 million for the quarter. Altimmune had a negative return on equity of 55.81% and a negative net margin of 199,076.92%. During the same period last year, the firm posted ($0.39) earnings per share. On average, equities analysts anticipate that Altimmune, Inc. will post -1.36 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ALT shares. Evercore ISI upgraded Altimmune to a “strong-buy” rating in a report on Friday, August 9th. HC Wainwright reissued a “buy” rating and set a $12.00 price objective on shares of Altimmune in a research report on Thursday, November 14th. UBS Group assumed coverage on shares of Altimmune in a research report on Tuesday, November 12th. They issued a “buy” rating and a $26.00 target price for the company. Finally, B. Riley reaffirmed a “buy” rating and set a $20.00 price objective on shares of Altimmune in a research report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $20.00.

Read Our Latest Stock Analysis on ALT

About Altimmune

(Free Report)

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.

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