Altimmune (NASDAQ:ALT) Trading Up 9.8% – What’s Next?

Altimmune, Inc. (NASDAQ:ALT) shares rose 9.8% during mid-day trading on Monday . The stock traded as high as $3.05 and last traded at $2.9650. 1,219,605 shares traded hands during trading, a decline of 71% from the average daily volume of 4,213,115 shares. The stock had previously closed at $2.70.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ALT. B. Riley Financial decreased their price target on Altimmune from $18.00 to $13.00 and set a “buy” rating on the stock in a research report on Friday, March 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Altimmune in a research report on Friday, March 27th. Citigroup reiterated a “market outperform” rating on shares of Altimmune in a research note on Tuesday, June 2nd. HC Wainwright reissued a “buy” rating and issued a $20.00 target price (down from $25.00) on shares of Altimmune in a report on Monday, May 18th. Finally, Leerink Partners began coverage on shares of Altimmune in a research report on Monday. They issued an “outperform” rating and a $10.00 target price for the company. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $15.71.

Altimmune Stock Performance

The stock has a fifty day simple moving average of $2.96 and a two-hundred day simple moving average of $3.82. The stock has a market cap of $566.88 million, a price-to-earnings ratio of -3.12 and a beta of 0.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 29.56 and a current ratio of 29.56.

Altimmune (NASDAQ:ALT) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.07. Altimmune had a negative return on equity of 42.57% and a negative net margin of 214,860.98%. Analysts expect that Altimmune, Inc. will post -0.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Altimmune by 4.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,901 shares of the company’s stock valued at $247,000 after purchasing an additional 2,241 shares in the last quarter. Geneos Wealth Management Inc. acquired a new position in Altimmune during the 1st quarter worth approximately $50,000. Envestnet Asset Management Inc. lifted its stake in Altimmune by 48.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 32,908 shares of the company’s stock valued at $127,000 after purchasing an additional 10,671 shares during the last quarter. Creative Planning lifted its stake in Altimmune by 30.2% in the 2nd quarter. Creative Planning now owns 41,164 shares of the company’s stock valued at $159,000 after purchasing an additional 9,558 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in Altimmune by 7.0% in the 2nd quarter. Rhumbline Advisers now owns 113,981 shares of the company’s stock valued at $441,000 after purchasing an additional 7,462 shares during the last quarter. Institutional investors own 78.05% of the company’s stock.

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.