Altimmune (NASDAQ:ALT) Stock Price Down 5% After Insider Selling

Altimmune, Inc. (NASDAQ:ALT) was down 5% during trading on Tuesday following insider selling activity. The stock traded as low as $7.15 and last traded at $7.16. Approximately 1,198,844 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 4,339,915 shares. The stock had previously closed at $7.54.

Specifically, Director David Drutz sold 16,011 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $6.90, for a total transaction of $110,475.90. Following the sale, the director now owns 41,958 shares in the company, valued at approximately $289,510.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analyst Ratings Changes

Several research firms have weighed in on ALT. B. Riley restated a “buy” rating and set a $20.00 target price on shares of Altimmune in a research note on Monday, August 12th. JMP Securities reduced their price objective on Altimmune from $25.00 to $24.00 and set a “market outperform” rating on the stock in a research note on Friday, May 10th. Evercore ISI upgraded Altimmune to a “strong-buy” rating in a research report on Friday, August 9th. Piper Sandler reissued an “overweight” rating and issued a $25.00 target price on shares of Altimmune in a report on Friday, June 21st. Finally, HC Wainwright restated a “buy” rating and issued a $12.00 price target on shares of Altimmune in a research note on Thursday. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $18.80.

Altimmune Trading Down 1.6 %

The business has a 50-day moving average of $6.60 and a two-hundred day moving average of $7.91. The firm has a market cap of $479.30 million, a P/E ratio of -4.25 and a beta of 0.13.

Altimmune (NASDAQ:ALT) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.01). The firm had revenue of $0.01 million for the quarter. Altimmune had a negative return on equity of 46.96% and a negative net margin of 22,645.37%. During the same quarter in the prior year, the business posted ($0.32) EPS. As a group, equities analysts expect that Altimmune, Inc. will post -1.34 EPS for the current year.

Hedge Funds Weigh In On Altimmune

Several large investors have recently bought and sold shares of ALT. North Star Investment Management Corp. bought a new stake in Altimmune in the 1st quarter valued at about $31,000. CANADA LIFE ASSURANCE Co bought a new stake in Altimmune during the first quarter valued at $44,000. Russell Investments Group Ltd. grew its holdings in shares of Altimmune by 1,150.9% during the fourth quarter. Russell Investments Group Ltd. now owns 4,303 shares of the company’s stock worth $48,000 after purchasing an additional 3,959 shares in the last quarter. TFO Wealth Partners LLC bought a new position in shares of Altimmune in the 1st quarter worth $51,000. Finally, Horizon Wealth Management LLC bought a new position in Altimmune in the second quarter valued at $66,000. 78.05% of the stock is currently 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.