Altimmune (NASDAQ:ALT) Stock Price Down 7.4% – What’s Next?

by · The Markets Daily

Altimmune, Inc. (NASDAQ:ALT – Get Free Report) fell 7.4% during mid-day trading on Monday . The stock traded as low as $7.07 and last traded at $7.11. 2,821,397 shares changed hands during trading, a decline of 25% from the average session volume of 3,753,479 shares. The stock had previously closed at $7.68.

Analyst Upgrades and Downgrades

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

Check Out Our Latest Stock Report on ALT

Altimmune Trading Up 0.3 %

The company has a 50-day moving average price of $6.89 and a 200-day moving average price of $6.87.

Altimmune (NASDAQ:ALT – Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.03. The firm had revenue of $0.01 million during the quarter. Altimmune had a negative net margin of 199,076.92% and a negative return on equity of 52.60%. During the same period in the previous year, the company posted ($0.39) EPS. Equities research analysts predict that Altimmune, Inc. will post -0.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director David Drutz sold 16,011 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 41,958 shares in the company, valued at approximately $289,510.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Altimmune

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

Altimmune Company Profile

(Get 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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