Altimmune (NASDAQ:ALT) Shares Up 4.9% – What’s Next?

Altimmune, Inc. (NASDAQ:ALT) shares were up 4.9% on Friday . The stock traded as high as $9.02 and last traded at $9.01. Approximately 1,826,223 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 3,833,614 shares. The stock had previously closed at $8.59.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ALT shares. UBS Group began coverage on shares of Altimmune in a research note on Tuesday, November 12th. They set a “buy” rating and a $26.00 price target for the company. HC Wainwright restated a “buy” rating and set a $12.00 target price on shares of Altimmune in a research report on Thursday, November 14th. 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 company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

Altimmune Trading Up 5.1 %

The company has a market capitalization of $642.26 million, a PE ratio of -5.83 and a beta of 0.15. The firm’s 50-day simple moving average is $7.71 and its 200-day simple moving average is $7.06.

Altimmune (NASDAQ:ALT) last announced its quarterly 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. The firm had revenue of $0.01 million during the quarter. Altimmune had a negative return on equity of 55.81% and a negative net margin of 199,076.92%. During the same quarter in the previous year, the firm posted ($0.39) EPS. As a group, analysts anticipate that Altimmune, Inc. will post -1.36 EPS for the current year.

Hedge Funds Weigh In On Altimmune

Institutional investors have recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. boosted its stake in shares of Altimmune by 12.9% during the third quarter. B. Riley Wealth Advisors Inc. now owns 23,454 shares of the company’s stock valued at $144,000 after purchasing an additional 2,687 shares in the last quarter. Virtu Financial LLC purchased a new stake in Altimmune during the third quarter worth $674,000. Barclays PLC boosted its position in Altimmune by 93.0% during the 3rd quarter. Barclays PLC now owns 155,741 shares of the company’s stock valued at $956,000 after acquiring an additional 75,064 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Altimmune by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,668,004 shares of the company’s stock valued at $10,244,000 after acquiring an additional 74,194 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of Altimmune by 27.5% in the 3rd quarter. Wellington Management Group LLP now owns 197,232 shares of the company’s stock worth $1,211,000 after acquiring an additional 42,553 shares in the last quarter. Hedge funds and other institutional investors own 78.05% of the company’s stock.

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.