Altimmune, Inc. (NASDAQ:ALT) Shares Acquired by Arizona State Retirement System

Arizona State Retirement System increased its holdings in Altimmune, Inc. (NASDAQ:ALT) by 34.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,847 shares of the company’s stock after buying an additional 5,081 shares during the quarter. Arizona State Retirement System’s holdings in Altimmune were worth $132,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ALT. Russell Investments Group Ltd. increased its position in shares of Altimmune by 1,150.9% in the fourth quarter. Russell Investments Group Ltd. now owns 4,303 shares of the company’s stock valued at $48,000 after buying an additional 3,959 shares in the last quarter. Jump Financial LLC acquired a new position in Altimmune in the fourth quarter valued at approximately $120,000. Independent Advisor Alliance purchased a new stake in Altimmune in the 4th quarter valued at about $112,000. Sectoral Asset Management Inc. acquired a new stake in Altimmune in the 4th quarter valued at approximately $1,922,000. Finally, Lighthouse Investment Partners LLC purchased a new stake in shares of Altimmune in the 4th quarter valued at $4,493,000. Hedge funds and other institutional investors own 78.05% of the company’s stock.

Analyst Upgrades and Downgrades

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

Altimmune Price Performance

Altimmune stock opened at $7.43 on Thursday. The firm has a fifty day moving average price of $6.72 and a two-hundred day moving average price of $7.46. The firm has a market cap of $526.80 million, a price-to-earnings ratio of -4.67 and a beta of 0.08. Altimmune, Inc. has a fifty-two week low of $2.09 and a fifty-two week high of $14.84.

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

Insider Activity

In related news, Director David Drutz sold 16,011 shares of the company’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 sale, the director now owns 41,958 shares of the company’s stock, valued at $289,510.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 4.10% of the stock is currently owned by company insiders.

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.