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

Altimmune, Inc. (NASDAQ:ALT) gapped up prior to trading on Wednesday . The stock had previously closed at $8.79, but opened at $9.41. Altimmune shares last traded at $10.05, with a volume of 1,733,321 shares traded.

Analyst Ratings Changes

ALT has been the topic of a number of analyst reports. UBS Group assumed coverage on shares of Altimmune in a research note on Tuesday, November 12th. They set a “buy” rating and a $26.00 price objective on the stock. B. Riley restated a “buy” rating and set a $20.00 price objective on shares of Altimmune in a research report on Monday, August 12th. Evercore ISI raised Altimmune to a “strong-buy” rating in a report on Friday, August 9th. Finally, HC Wainwright reiterated a “buy” rating and issued a $12.00 price target on shares of Altimmune in a research note on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Altimmune presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

Altimmune Stock Up 13.3 %

The stock’s 50-day simple moving average is $7.28 and its 200 day simple moving average is $6.97. The firm has a market cap of $708.36 million, a P/E ratio of -6.86 and a beta of 0.15.

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

Hedge Funds Weigh In On Altimmune

Institutional investors have recently made changes to their positions in the stock. Larson Financial Group LLC bought a new stake in Altimmune during the 3rd quarter valued at $31,000. CANADA LIFE ASSURANCE Co bought a new position in Altimmune in the 1st quarter valued at about $44,000. Horizon Wealth Management LLC acquired a new position in Altimmune during the 2nd quarter valued at about $66,000. PFG Investments LLC bought a new stake in Altimmune during the 2nd quarter worth approximately $67,000. Finally, Principal Financial Group Inc. purchased a new stake in shares of Altimmune in the second quarter worth approximately $70,000. Institutional investors and hedge funds 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.