Altimmune (NASDAQ:ALT) Shares Up 4.7% – What’s Next?

Shares of Altimmune, Inc. (NASDAQ:ALT) traded up 4.7% during mid-day trading on Thursday . The company traded as high as $8.33 and last traded at $8.27. 1,143,669 shares traded hands 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.

Analysts Set New Price Targets

A number of brokerages have weighed in on ALT. HC Wainwright restated a “buy” rating and issued a $12.00 target price on shares of Altimmune in a research note on Thursday, November 14th. UBS Group began coverage on shares of Altimmune in a research note on Tuesday, November 12th. They issued a “buy” rating and a $26.00 price target for the company. 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 stock. According to MarketBeat.com, Altimmune has a consensus rating of “Moderate Buy” and an average target price of $20.00.

Altimmune Trading Up 0.9 %

The stock’s fifty day moving average price is $7.93 and its two-hundred day moving average price is $7.10. The stock has a market capitalization of $586.78 million, a P/E ratio of -5.32 and a beta of 0.15.

Altimmune (NASDAQ:ALT) last posted 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. The business had revenue of $0.01 million during the quarter. Altimmune had a negative net margin of 199,076.92% and a negative return on equity of 55.81%. During the same quarter in the previous year, the company earned ($0.39) earnings per share. As a group, analysts expect that Altimmune, Inc. will post -1.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Altimmune

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALT. Larson Financial Group LLC bought a new stake in shares of Altimmune in the 3rd quarter worth approximately $31,000. PFG Investments LLC purchased a new stake in Altimmune in the second quarter worth $67,000. Principal Financial Group Inc. bought a new stake in Altimmune in the second quarter valued at $70,000. Verus Capital Partners LLC purchased a new position in Altimmune during the 2nd quarter valued at $82,000. Finally, XTX Topco Ltd bought a new position in Altimmune in the 2nd quarter worth $96,000. 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.