Altimmune (NASDAQ:ALT) Trading Down 4.6% – What’s Next?

Altimmune, Inc. (NASDAQ:ALT)’s share price dropped 4.6% during mid-day trading on Monday . The stock traded as low as $7.86 and last traded at $7.87. Approximately 989,264 shares were traded during trading, a decline of 74% from the average daily volume of 3,823,179 shares. The stock had previously closed at $8.25.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. UBS Group started coverage on shares of Altimmune in a research note on Tuesday, November 12th. They issued a “buy” rating and a $26.00 price objective for the company. HC Wainwright reiterated a “buy” rating and set a $12.00 price target on shares of Altimmune in a report on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Altimmune has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Altimmune Price Performance

The firm has a market capitalization of $536.99 million, a price-to-earnings ratio of -4.87 and a beta of 0.15. The stock has a fifty day moving average of $7.97 and a two-hundred day moving average of $7.11.

Altimmune (NASDAQ:ALT) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.32) earnings per share (EPS) 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 company had revenue of $0.01 million during the quarter. During the same quarter last year, the business earned ($0.39) earnings per share. On average, research analysts forecast that Altimmune, Inc. will post -1.36 EPS for the current year.

Hedge Funds Weigh In On Altimmune

A number of hedge funds have recently bought and sold shares of ALT. Larson Financial Group LLC bought a new position in shares of Altimmune in the 3rd quarter worth about $31,000. PFG Investments LLC bought a new stake in Altimmune in the second quarter worth approximately $67,000. Principal Financial Group Inc. acquired a new position in Altimmune in the second quarter valued at approximately $70,000. Verus Capital Partners LLC bought a new position in shares of Altimmune during the 2nd quarter worth approximately $82,000. Finally, XTX Topco Ltd acquired a new stake in shares of Altimmune during the 2nd quarter worth approximately $96,000. Institutional investors own 78.05% of the company’s stock.

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.