Altimmune (NASDAQ:ALT) Trading Up 4.7% – Time to Buy?

Altimmune, Inc. (NASDAQ:ALT) shot up 4.7% during mid-day trading on Thursday . The stock traded as high as $8.33 and last traded at $8.27. 1,143,669 shares were traded during mid-day trading, a decline of 70% from the average session volume of 3,822,978 shares. The stock had previously closed at $7.90.

Wall Street Analyst Weigh In

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

Altimmune Price Performance

The company has a market cap of $590.34 million, a P/E ratio of -5.35 and a beta of 0.15. The company has a fifty day simple moving average of $7.85 and a 200-day simple moving average of $7.09.

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 the consensus estimate 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 business had revenue of $0.01 million during the quarter. During the same quarter in the prior year, the firm earned ($0.39) earnings per share. On average, analysts anticipate that Altimmune, Inc. will post -1.36 EPS for the current year.

Institutional Investors Weigh In On Altimmune

A number of large investors have recently bought and sold shares of the business. B. Riley Wealth Advisors Inc. boosted its position 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 worth $144,000 after purchasing an additional 2,687 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Altimmune during the 3rd quarter worth approximately $674,000. Barclays PLC grew its stake in shares of Altimmune by 93.0% in the third quarter. Barclays PLC now owns 155,741 shares of the company’s stock valued at $956,000 after buying an additional 75,064 shares in the last quarter. Geode Capital Management LLC lifted its stake in 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 purchasing an additional 74,194 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Altimmune by 27.5% during 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 during the last quarter. 78.05% of the stock is currently owned by institutional investors.

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.