Altimmune (NASDAQ:ALT) Stock Price Down 6.6% – Time to Sell?

Altimmune, Inc. (NASDAQ:ALT) shares dropped 6.6% on Monday . The stock traded as low as $4.73 and last traded at $4.9150. Approximately 1,448,087 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 3,477,136 shares. The stock had previously closed at $5.26.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Citizens Jmp reduced their target price on Altimmune from $15.00 to $14.00 and set a “market outperform” rating on the stock in a report on Friday, November 7th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Altimmune in a research note on Monday, November 24th. Citigroup reissued a “market outperform” rating on shares of Altimmune in a research report on Wednesday, November 12th. UBS Group reduced their price target on shares of Altimmune from $26.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday, August 13th. Finally, B. Riley dropped their price objective on shares of Altimmune from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, August 13th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Altimmune currently has an average rating of “Moderate Buy” and a consensus target price of $16.83.

Altimmune Stock Down 4.6%

The stock has a market capitalization of $523.69 million, a price-to-earnings ratio of -4.25 and a beta of 0.01. The firm has a 50-day moving average of $4.15 and a 200 day moving average of $4.45. The company has a current ratio of 20.44, a quick ratio of 20.44 and a debt-to-equity ratio of 0.09.

Altimmune (NASDAQ:ALT) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.08. The company had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.00 million. Altimmune had a negative net margin of 438,730.03% and a negative return on equity of 62.63%. On average, sell-side analysts anticipate that Altimmune, Inc. will post -1.35 earnings per share for the current year.

Institutional Trading of Altimmune

Several large investors have recently modified their holdings of ALT. Vanguard Group Inc. boosted its holdings in Altimmune by 23.3% in the third quarter. Vanguard Group Inc. now owns 6,373,638 shares of the company’s stock valued at $24,029,000 after purchasing an additional 1,206,514 shares during the last quarter. Two Sigma Investments LP raised its position in shares of Altimmune by 356.6% in the 3rd quarter. Two Sigma Investments LP now owns 1,996,848 shares of the company’s stock valued at $7,528,000 after purchasing an additional 1,559,562 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Altimmune by 13.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,934,880 shares of the company’s stock valued at $7,489,000 after purchasing an additional 228,995 shares in the last quarter. Federated Hermes Inc. boosted its stake in shares of Altimmune by 387.7% during the 2nd quarter. Federated Hermes Inc. now owns 915,458 shares of the company’s stock valued at $3,543,000 after buying an additional 727,731 shares during the last quarter. Finally, Bank of America Corp DE grew its position in shares of Altimmune by 155.2% during the second quarter. Bank of America Corp DE now owns 716,019 shares of the company’s stock worth $2,771,000 after buying an additional 435,467 shares in the last quarter. 78.05% of the stock is currently 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.