Wealth Effects LLC Has $215,000 Stock Holdings in Altimmune, Inc. (NASDAQ:ALT)

Wealth Effects LLC decreased its position in Altimmune, Inc. (NASDAQ:ALT) by 6.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 35,050 shares of the company’s stock after selling 2,500 shares during the quarter. Wealth Effects LLC’s holdings in Altimmune were worth $215,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Creative Planning boosted its stake in Altimmune by 20.5% in the third quarter. Creative Planning now owns 18,411 shares of the company’s stock valued at $113,000 after acquiring an additional 3,132 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Altimmune by 74.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 216,761 shares of the company’s stock worth $1,331,000 after purchasing an additional 92,498 shares during the last quarter. PVG Asset Management Corp acquired a new stake in shares of Altimmune during the second quarter worth $154,000. B. Riley Wealth Advisors Inc. bought a new stake in Altimmune in the second quarter valued at about $138,000. Finally, The Manufacturers Life Insurance Company lifted its stake in Altimmune by 30.7% in the second quarter. The Manufacturers Life Insurance Company now owns 26,973 shares of the company’s stock valued at $179,000 after buying an additional 6,339 shares during the period. 78.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ALT has been the subject of several analyst reports. Evercore ISI upgraded Altimmune to a “strong-buy” rating in a research 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 note on Thursday, August 22nd. Finally, B. Riley reaffirmed a “buy” rating and issued a $20.00 target price on shares of Altimmune in a research note on Monday, August 12th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $18.80.

Altimmune Trading Down 2.8 %

Shares of NASDAQ ALT traded down $0.19 during mid-day trading on Monday, reaching $6.69. 307,269 shares of the company’s stock were exchanged, compared to its average volume of 3,868,890. The business has a fifty day simple moving average of $6.72 and a 200 day simple moving average of $6.94. Altimmune, Inc. has a twelve month low of $2.09 and a twelve month high of $14.84. The firm has a market capitalization of $474.33 million, a price-to-earnings ratio of -4.33 and a beta of 0.08.

Altimmune (NASDAQ:ALT) last announced its earnings results on Thursday, August 8th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.01). The company had revenue of $0.01 million for the quarter. Altimmune had a negative return on equity of 53.09% and a negative net margin of 24,778.97%. During the same quarter in the prior year, the business earned ($0.32) EPS. Equities research analysts predict that Altimmune, Inc. will post -0.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director David Drutz sold 16,011 shares of the company’s stock in a transaction on Monday, August 19th. The shares were 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 of the company’s stock, valued at approximately $289,510.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.10% of the stock is currently owned by company insiders.

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.