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

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

Analyst Ratings Changes

Several analysts have recently commented on the stock. HC Wainwright reissued a “buy” rating and set a $12.00 price target on shares of Altimmune in a research note on Thursday, November 14th. UBS Group assumed coverage on shares of Altimmune in a research note on Tuesday, November 12th. They set a “buy” rating and a $26.00 price target for the company. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Altimmune Stock Performance

The company has a fifty day simple moving average of $8.02 and a 200 day simple moving average of $7.14. The stock has a market capitalization of $519.21 million, a price-to-earnings ratio of -4.71 and a beta of 0.15.

Altimmune (NASDAQ:ALT) last posted its earnings results on Tuesday, November 12th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.03. The firm had revenue of $0.01 million for the quarter. Altimmune had a negative net margin of 199,076.92% and a negative return on equity of 55.81%. During the same period in the prior year, the business earned ($0.39) EPS. As a group, equities analysts predict that Altimmune, Inc. will post -1.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Altimmune

Several institutional investors and hedge funds have recently bought and sold shares of the stock. B. Riley Wealth Advisors Inc. lifted its position in Altimmune by 12.9% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 23,454 shares of the company’s stock valued at $144,000 after acquiring an additional 2,687 shares in the last quarter. Creative Planning grew its holdings in shares of Altimmune by 20.5% in the third quarter. Creative Planning now owns 18,411 shares of the company’s stock worth $113,000 after purchasing an additional 3,132 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Altimmune by 2.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 211,626 shares of the company’s stock valued at $1,299,000 after purchasing an additional 4,772 shares in the last quarter. Larson Financial Group LLC acquired a new position in shares of Altimmune during the third quarter worth $31,000. Finally, Arizona State Retirement System lifted its holdings in shares of Altimmune by 34.4% during the second quarter. Arizona State Retirement System now owns 19,847 shares of the company’s stock worth $132,000 after purchasing an additional 5,081 shares during the period. 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.