Altimmune (NASDAQ:ALT) Trading Down 4.7% After Analyst Downgrade

Shares of Altimmune, Inc. (NASDAQ:ALTGet Free Report) fell 4.7% on Friday after JMP Securities lowered their price target on the stock from $25.00 to $24.00. JMP Securities currently has a market outperform rating on the stock. Altimmune traded as low as $7.35 and last traded at $7.36. 505,514 shares were traded during trading, a decline of 90% from the average session volume of 5,056,193 shares. The stock had previously closed at $7.72.

Several other brokerages have also recently commented on ALT. The Goldman Sachs Group began coverage on Altimmune in a research report on Wednesday, January 24th. They set a “neutral” rating and a $13.00 price target for the company. HC Wainwright reduced their price target on Altimmune from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Monday, April 1st. Guggenheim cut Altimmune from a “buy” rating to a “neutral” rating in a research report on Monday, April 29th. Finally, B. Riley reissued a “buy” rating and set a $20.00 price target on shares of Altimmune in a research report on Thursday, March 28th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Altimmune currently has an average rating of “Moderate Buy” and an average target price of $17.25.

Read Our Latest Stock Analysis on ALT

Institutional Trading of Altimmune

A number of hedge funds have recently made changes to their positions in ALT. SG Americas Securities LLC lifted its position in shares of Altimmune by 63.1% in the third quarter. SG Americas Securities LLC now owns 43,086 shares of the company’s stock valued at $112,000 after buying an additional 16,661 shares during the last quarter. Barclays PLC increased its stake in shares of Altimmune by 62.0% during the third quarter. Barclays PLC now owns 180,409 shares of the company’s stock worth $470,000 after purchasing an additional 69,014 shares during the period. Quantbot Technologies LP bought a new position in shares of Altimmune during the third quarter worth approximately $40,000. WealthPlan Investment Management LLC bought a new position in shares of Altimmune during the third quarter worth approximately $31,000. Finally, Dark Forest Capital Management LP increased its stake in shares of Altimmune by 13.4% during the third quarter. Dark Forest Capital Management LP now owns 230,353 shares of the company’s stock worth $599,000 after purchasing an additional 27,210 shares during the period. 78.05% of the stock is owned by institutional investors and hedge funds.

Altimmune Stock Down 6.5 %

The company has a market cap of $511.83 million, a P/E ratio of -4.38 and a beta of 0.22. The stock has a 50 day moving average price of $8.59 and a two-hundred day moving average price of $7.84.

Altimmune (NASDAQ:ALTGet Free Report) last announced its earnings results on Thursday, May 9th. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.02. The company had revenue of $0.01 million for the quarter. Altimmune had a negative return on equity of 44.77% and a negative net margin of 20,780.75%. During the same quarter last year, the business posted ($0.40) EPS. Equities analysts anticipate that Altimmune, Inc. will post -1.52 EPS for the current year.

Altimmune Company Profile

(Get Free Report)

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.

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