Altimmune (NASDAQ:ALT) Shares Gap Down – Here’s Why

Altimmune, Inc. (NASDAQ:ALT) gapped down prior to trading on Wednesday . The stock had previously closed at $6.18, but opened at $5.93. Altimmune shares last traded at $5.6750, with a volume of 4,605,667 shares changing hands.

Analyst Ratings Changes

A number of brokerages have weighed in on ALT. Barclays started coverage on shares of Altimmune in a research report on Tuesday. They set an “overweight” rating and a $20.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Altimmune in a research note on Monday, December 29th. Citigroup reaffirmed a “market outperform” rating on shares of Altimmune in a research report on Wednesday, November 12th. Citizens Jmp dropped their price target on Altimmune from $15.00 to $14.00 and set a “market outperform” rating on the stock in a research report on Friday, November 7th. Finally, HC Wainwright reissued a “buy” rating and set a $12.00 price target on shares of Altimmune in a report on Monday, October 20th. 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $17.17.

Altimmune Trading Down 11.5%

The business’s 50-day simple moving average is $4.63 and its 200-day simple moving average is $4.13. The company has a market cap of $570.95 million, a PE ratio of -5.16 and a beta of 0.04. The company has a current ratio of 17.18, a quick ratio of 17.18 and a debt-to-equity ratio of 0.08.

Altimmune (NASDAQ:ALT) last released its earnings results on Thursday, November 6th. The company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.08. Altimmune had a negative net margin of 419,575.00% and a negative return on equity of 54.79%. The firm had revenue of $0.01 million during the quarter, compared to analyst estimates of $0.00 million. As a group, analysts expect that Altimmune, Inc. will post -1.35 EPS for the current fiscal year.

Insider Activity at Altimmune

In related news, Director Jerome Benedict Durso bought 12,500 shares of the company’s stock in a transaction dated Monday, December 22nd. The shares were bought at an average price of $4.13 per share, for a total transaction of $51,625.00. Following the completion of the acquisition, the director directly owned 12,500 shares of the company’s stock, valued at $51,625. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John Gill acquired 12,500 shares of the firm’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was purchased at an average cost of $4.10 per share, with a total value of $51,250.00. Following the acquisition, the director owned 12,500 shares in the company, valued at $51,250. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 30,527 shares of company stock worth $125,278 in the last ninety days. 4.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Altimmune

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. purchased a new position in Altimmune in the third quarter worth $38,000. BNP Paribas Financial Markets raised its position in Altimmune by 108.5% in the second quarter. BNP Paribas Financial Markets now owns 10,095 shares of the company’s stock valued at $39,000 after purchasing an additional 5,253 shares during the period. Kingswood Wealth Advisors LLC acquired a new stake in shares of Altimmune during the second quarter worth about $40,000. Prudential Financial Inc. acquired a new stake in Altimmune in the 2nd quarter valued at about $43,000. Finally, Sequoia Financial Advisors LLC purchased a new stake in Altimmune during the 3rd quarter worth about $46,000. 78.05% of the stock is owned by institutional investors.

About Altimmune

Altimmune, Inc is a clinical-stage biopharmaceutical company headquartered in Gaithersburg, Maryland, dedicated to the development of vaccines and immunotherapeutics. The company leverages proprietary technology platforms to create intranasal vaccine candidates and novel therapies targeting liver diseases and metabolic disorders. Altimmune’s approach emphasizes the stimulation of both systemic and mucosal immune responses to address unmet medical needs in infectious and chronic conditions.

Among its lead programs, NasoVAX is an investigational intranasal influenza vaccine designed to provide broad, long-lasting protection through a single, non-invasive dose.