Altimmune (NASDAQ:ALT) Shares Down 5.4% – What’s Next?

Altimmune, Inc. (NASDAQ:ALT)’s share price dropped 5.4% on Monday . The company traded as low as $7.13 and last traded at $7.20. Approximately 623,008 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 3,857,509 shares. The stock had previously closed at $7.61.

Analyst Upgrades and Downgrades

ALT has been the topic of a number of analyst reports. 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 reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Altimmune in a research report on Thursday, November 14th. UBS Group began coverage on Altimmune in a research report on Tuesday, November 12th. They issued a “buy” rating and a $26.00 price objective for the company. Finally, Evercore ISI raised Altimmune to a “strong-buy” rating in a research report on Friday, August 9th. Two equities research 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

Altimmune Trading Up 4.5 %

The business has a 50-day moving average price of $7.05 and a 200 day moving average price of $6.91. The company has a market cap of $531.27 million, a price-to-earnings ratio of -4.82 and a beta of 0.09.

Altimmune (NASDAQ:ALT) last released its earnings results on Tuesday, November 12th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.03. Altimmune had a negative return on equity of 55.81% and a negative net margin of 199,076.92%. The company had revenue of $0.01 million during the quarter. During the same quarter in the previous year, the company earned ($0.39) EPS. On average, analysts anticipate that Altimmune, Inc. will post -1.36 earnings per share for the current year.

Hedge Funds Weigh In On Altimmune

Several hedge funds have recently bought and sold shares of the business. CANADA LIFE ASSURANCE Co bought a new position in Altimmune during the first quarter worth about $44,000. Larson Financial Group LLC bought a new stake in shares of Altimmune in the 3rd quarter valued at $31,000. Horizon Wealth Management LLC acquired a new position in Altimmune in the 2nd quarter worth $66,000. PFG Investments LLC acquired a new position in Altimmune in the 2nd quarter worth $67,000. Finally, Principal Financial Group Inc. acquired a new position in Altimmune in the 2nd quarter worth $70,000. 78.05% of the stock is owned by institutional investors and hedge funds.

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.