Altimmune (NASDAQ:ALT) Trading 5.9% Higher – Here’s What Happened

Shares of Altimmune, Inc. (NASDAQ:ALT) rose 5.9% on Tuesday . The stock traded as high as $9.41 and last traded at $9.37. Approximately 1,110,311 shares changed hands during trading, a decline of 71% from the average daily volume of 3,814,385 shares. The stock had previously closed at $8.85.

Analyst Ratings Changes

Several analysts recently weighed in on the company. UBS Group started coverage on Altimmune in a research note on Tuesday, November 12th. They issued a “buy” rating and a $26.00 price objective on the stock. B. Riley restated a “buy” rating and issued a $20.00 price target on shares of Altimmune in a research note on Monday, August 12th. HC Wainwright reiterated a “buy” rating and set a $12.00 price objective on shares of Altimmune in a research report on Thursday, November 14th. Finally, Evercore ISI upgraded shares of Altimmune to a “strong-buy” rating in a research report on Friday, August 9th. Two 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 company. According to MarketBeat, Altimmune has a consensus rating of “Moderate Buy” and an average price target of $20.00.

Altimmune Stock Performance

The company has a fifty day simple moving average of $7.21 and a 200 day simple moving average of $6.96. The stock has a market capitalization of $620.17 million, a price-to-earnings ratio of -6.09 and a beta of 0.15.

Altimmune (NASDAQ:ALT) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.03. Altimmune had a negative net margin of 199,076.92% and a negative return on equity of 55.81%. The business had revenue of $0.01 million for the quarter. During the same period last year, the company posted ($0.39) EPS. As a group, equities analysts predict 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 have recently added to or reduced their stakes in ALT. Larson Financial Group LLC acquired a new position in shares of Altimmune during the third quarter valued at about $31,000. CANADA LIFE ASSURANCE Co purchased a new position in shares of Altimmune during the first quarter valued at approximately $44,000. Horizon Wealth Management LLC bought a new stake in Altimmune during the second quarter worth $66,000. PFG Investments LLC purchased a new stake in Altimmune in the 2nd quarter valued at $67,000. Finally, Principal Financial Group Inc. bought a new position in Altimmune during the 2nd quarter valued at $70,000. Institutional investors and hedge funds own 78.05% of the company’s stock.

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.