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

Altimmune, Inc. (NASDAQ:ALT)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $7.31, but opened at $7.54. Altimmune shares last traded at $7.42, with a volume of 484,517 shares changing hands.

Wall Street Analyst Weigh In

ALT has been the topic of a number of research analyst reports. UBS Group started coverage on shares of Altimmune in a research report on Tuesday, November 12th. They issued a “buy” rating and a $26.00 target price on the stock. HC Wainwright restated a “buy” rating and set a $12.00 price objective on shares of Altimmune in a research report on Thursday, November 14th. Finally, Stifel Nicolaus began coverage on Altimmune in a research report on Wednesday. They issued a “buy” rating and a $18.00 target price for the company. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Altimmune presently has a consensus rating of “Moderate Buy” and an average target price of $19.71.

Altimmune Price Performance

The company has a fifty day moving average of $8.07 and a 200 day moving average of $7.20. The firm has a market capitalization of $536.28 million, a P/E ratio of -4.86 and a beta of 0.22.

Altimmune (NASDAQ:ALT) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.03. Altimmune had a negative return on equity of 55.81% and a negative net margin of 199,076.92%. The firm had revenue of $0.01 million during the quarter. During the same quarter in the previous year, the business posted ($0.39) earnings per share. On average, sell-side analysts forecast that Altimmune, Inc. will post -1.36 EPS for the current year.

Institutional Investors Weigh In On Altimmune

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. B. Riley Wealth Advisors Inc. increased its stake in Altimmune by 12.9% during the 3rd 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. Creative Planning raised its stake in shares of Altimmune by 20.5% in the third quarter. Creative Planning now owns 18,411 shares of the company’s stock worth $113,000 after purchasing an additional 3,132 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Altimmune by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 211,626 shares of the company’s stock valued at $1,299,000 after buying an additional 4,772 shares during the last quarter. Larson Financial Group LLC purchased a new position in Altimmune during the 3rd quarter worth $31,000. Finally, Arizona State Retirement System grew its stake in shares of Altimmune by 34.4% in the 2nd quarter. Arizona State Retirement System now owns 19,847 shares of the company’s stock worth $132,000 after acquiring an additional 5,081 shares in the last quarter. 78.05% of the stock is owned by 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.