Altimmune (NASDAQ:ALT) Stock Price Down 7%

Altimmune, Inc. (NASDAQ:ALT) shares were down 7% during trading on Monday . The stock traded as low as $7.40 and last traded at $7.43. Approximately 1,628,236 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 5,598,546 shares. The stock had previously closed at $7.99.

Analyst Ratings Changes

Several analysts have commented on ALT shares. B. Riley reissued a “buy” rating and issued a $20.00 price objective on shares of Altimmune in a report on Thursday, March 28th. HC Wainwright dropped their price objective on Altimmune from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Monday, April 1st. Finally, The Goldman Sachs Group initiated coverage on Altimmune in a research note on Wednesday, January 24th. They issued a “neutral” rating and a $13.00 price target on the stock.

Altimmune Price Performance

The stock has a 50 day moving average price of $9.66 and a 200-day moving average price of $7.33. The stock has a market capitalization of $507.57 million, a price-to-earnings ratio of -4.56 and a beta of 0.05.

Institutional Trading of Altimmune

A number of institutional investors have recently made changes to their positions in ALT. State Street Corp lifted its position in Altimmune by 2,407.5% during the third quarter. State Street Corp now owns 3,398,856 shares of the company’s stock worth $43,403,000 after buying an additional 3,263,310 shares in the last quarter. BlackRock Inc. lifted its position in Altimmune by 162.9% during the second quarter. BlackRock Inc. now owns 3,664,274 shares of the company’s stock worth $12,935,000 after buying an additional 2,270,219 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Altimmune during the fourth quarter worth approximately $14,023,000. Balyasny Asset Management LLC lifted its position in Altimmune by 402.6% during the third quarter. Balyasny Asset Management LLC now owns 1,037,662 shares of the company’s stock worth $13,251,000 after buying an additional 831,193 shares in the last quarter. Finally, Timelo Investment Management Inc. lifted its position in Altimmune by 2,597.0% during 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 in the last quarter. 78.05% of the stock is owned by institutional investors and hedge funds.

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 non-alcoholic steatohepatitis.