Altimmune (NASDAQ:ALT) Shares Down 5.9% – Here’s Why

Altimmune, Inc. (NASDAQ:ALT)’s stock price was down 5.9% on Monday . The stock traded as low as $7.19 and last traded at $7.22. Approximately 969,002 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 3,795,308 shares. The stock had previously closed at $7.67.

Analyst Upgrades and Downgrades

ALT has been the topic of several recent research reports. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price target on shares of Altimmune in a report on Thursday, November 14th. UBS Group initiated coverage on Altimmune in a report on Tuesday, November 12th. They issued a “buy” rating and a $26.00 price target for the company. Two 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 company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $20.00.

Altimmune Stock Performance

The company’s 50-day simple moving average is $8.02 and its 200 day simple moving average is $7.14. The company has a market cap of $519.21 million, a PE ratio of -4.71 and a beta of 0.15.

Altimmune (NASDAQ:ALT) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates 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 firm posted ($0.39) earnings per share. Analysts forecast that Altimmune, Inc. will post -1.36 EPS for the current year.

Institutional Trading of Altimmune

Several institutional investors and hedge funds have recently made changes to their positions in ALT. Larson Financial Group LLC purchased a new stake in Altimmune in the 3rd quarter valued at approximately $31,000. PFG Investments LLC bought a new stake in Altimmune during the second quarter valued at $67,000. Principal Financial Group Inc. acquired a new stake in Altimmune in the second quarter worth $70,000. Verus Capital Partners LLC acquired a new position in shares of Altimmune during the second quarter valued at $82,000. Finally, XTX Topco Ltd bought a new stake in Altimmune in the second quarter worth about $96,000. 78.05% of the stock is owned by hedge funds and other 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.