Exchange Traded Concepts LLC Has $1.33 Million Position in Altimmune, Inc. (NASDAQ:ALT)

Exchange Traded Concepts LLC lifted its holdings in Altimmune, Inc. (NASDAQ:ALT) by 74.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 216,761 shares of the company’s stock after acquiring an additional 92,498 shares during the period. Exchange Traded Concepts LLC owned approximately 0.31% of Altimmune worth $1,331,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. North Star Investment Management Corp. acquired a new position in shares of Altimmune during the 1st quarter valued at $31,000. CANADA LIFE ASSURANCE Co bought a new position in shares of Altimmune during the 1st quarter worth about $44,000. TFO Wealth Partners LLC acquired a new stake in shares of Altimmune in the 1st quarter valued at about $51,000. Horizon Wealth Management LLC bought a new stake in Altimmune in the 2nd quarter valued at about $66,000. Finally, PFG Investments LLC bought a new stake in Altimmune in the 2nd quarter valued at about $67,000. 78.05% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Altimmune

In related news, Director David Drutz sold 16,011 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $6.90, for a total value of $110,475.90. Following the transaction, the director now directly owns 41,958 shares of the company’s stock, valued at approximately $289,510.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.10% of the company’s stock.

Altimmune Stock Performance

Altimmune stock opened at $6.86 on Thursday. Altimmune, Inc. has a fifty-two week low of $2.09 and a fifty-two week high of $14.84. The firm’s 50-day simple moving average is $6.70 and its 200 day simple moving average is $7.00. The stock has a market cap of $486.39 million, a PE ratio of -4.31 and a beta of 0.08.

Altimmune (NASDAQ:ALT) last announced its earnings results on Thursday, August 8th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.01). The business had revenue of $0.01 million during the quarter. Altimmune had a negative return on equity of 53.09% and a negative net margin of 24,778.97%. During the same quarter in the previous year, the firm earned ($0.32) EPS. As a group, analysts predict that Altimmune, Inc. will post -0.54 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on ALT. HC Wainwright reissued a “buy” rating and issued a $12.00 price objective on shares of Altimmune in a research note on Thursday, August 22nd. Piper Sandler restated an “overweight” rating and set a $25.00 price target on shares of Altimmune in a research note on Friday, June 21st. B. Riley restated a “buy” rating and set a $20.00 price objective on shares of Altimmune in a report on Monday, August 12th. Finally, Evercore ISI upgraded shares of Altimmune to a “strong-buy” rating in a report on Friday, August 9th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.80.

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.