Altimmune (NASDAQ:ALT) Shares Up 7.8%

Altimmune, Inc. (NASDAQ:ALT) shot up 7.8% during trading on Monday . The company traded as high as $7.31 and last traded at $7.17. 1,816,286 shares were traded during trading, a decline of 62% from the average session volume of 4,789,561 shares. The stock had previously closed at $6.65.

Analyst Upgrades and Downgrades

A number of research firms have commented on ALT. B. Riley reiterated a “buy” rating and set a $20.00 price objective on shares of Altimmune in a research note on Tuesday, June 25th. HC Wainwright reiterated a “buy” rating and set a $12.00 price objective on shares of Altimmune in a research note on Tuesday, May 14th. Guggenheim downgraded shares of Altimmune from a “buy” rating to a “neutral” rating in a research report on Monday, April 29th. JMP Securities reduced their price target on shares of Altimmune from $25.00 to $24.00 and set a “market outperform” rating on the stock in a research report on Friday, May 10th. Finally, Piper Sandler restated an “overweight” rating and issued a $25.00 price target on shares of Altimmune in a research report on Friday, June 21st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Altimmune currently has an average rating of “Moderate Buy” and an average target price of $18.80.

Altimmune Stock Performance

The company’s 50 day simple moving average is $7.06 and its 200 day simple moving average is $8.81.

Altimmune (NASDAQ:ALT) last released its earnings results on Thursday, May 9th. The company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.02. The firm had revenue of $0.01 million for the quarter. Altimmune had a negative net margin of 22,645.37% and a negative return on equity of 46.96%. During the same period in the previous year, the business posted ($0.40) EPS. Equities research analysts forecast that Altimmune, Inc. will post -1.34 earnings per share for the current year.

Hedge Funds Weigh In On Altimmune

Several hedge funds have recently made changes to their positions in ALT. Timelo Investment Management Inc. boosted its holdings in shares of Altimmune by 2,597.0% in the fourth quarter. Timelo Investment Management Inc. now owns 809,095 shares of the company’s stock worth $9,102,000 after buying an additional 779,095 shares during the period. Knoll Capital Management LLC boosted its holdings in shares of Altimmune by 183.6% in the first quarter. Knoll Capital Management LLC now owns 567,219 shares of the company’s stock worth $5,774,000 after buying an additional 367,219 shares during the period. Farallon Capital Management LLC boosted its holdings in shares of Altimmune by 1,282.4% during the first quarter. Farallon Capital Management LLC now owns 470,000 shares of the company’s stock worth $4,785,000 after purchasing an additional 436,000 shares during the period. GSA Capital Partners LLP boosted its holdings in shares of Altimmune by 153.1% during the third quarter. GSA Capital Partners LLP now owns 445,868 shares of the company’s stock worth $1,159,000 after purchasing an additional 269,676 shares during the period. Finally, Lighthouse Investment Partners LLC acquired a new stake in shares of Altimmune during the fourth quarter worth approximately $4,493,000. 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.