Altimmune (NASDAQ:ALT) Stock: Insider Gregory Weaver Acquires 10,000 Shares

Altimmune, Inc. (NASDAQ:ALT) CFO Gregory Weaver bought 10,000 shares of Altimmune stock in a transaction on Friday, November 13th. The shares were purchased at an average cost of $1.62 per share, for a total transaction of $16,200.00. Following the completion of the purchase, the chief financial officer directly owned 73,005 shares of the company’s stock, valued at $118,268.10. This trade represents a 15.87% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Altimmune Trading Up 2.2%

NASDAQ:ALT traded up $0.04 on Friday, hitting $1.65. The stock had a trading volume of 3,528,857 shares, compared to its average volume of 3,885,901. The company has a quick ratio of 26.78, a current ratio of 26.78 and a debt-to-equity ratio of 0.07. The stock has a market cap of $319.99 million, a price-to-earnings ratio of -2.28 and a beta of 0.16. The company has a fifty day moving average price of $2.58 and a two-hundred day moving average price of $3.15. Altimmune, Inc. has a 1-year low of $1.58 and a 1-year high of $6.44.

Altimmune (NASDAQ:ALT) last announced its quarterly earnings results on Thursday, November 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). Equities research analysts expect that Altimmune, Inc. will post -0.58 earnings per share for the current fiscal year.

Altimmune News Summary

These are some of the ALT news items that stood out recently:

• Positive Sentiment: Altimmune reported $480 million in cash, equivalents, and investments at September 30, with a projected runway through 2029. Management also said the Phase 3 MASH program is progressing as planned and scheduled an FDA meeting on its alcohol-use-disorder program for December. Quarterly update
• Negative Sentiment: Third-quarter loss per share was $0.15, wider than the $0.13 loss analysts expected. Higher research and development spending contributed to the miss, and commentary has raised concerns about the company’s capital needs despite its current cash runway. Earnings analysis
• Negative Sentiment: A Seeking Alpha analysis characterized pemvidutide’s development as late and capital-intensive, underscoring the risk that lengthy trials and spending could weigh on ALT before any potential product revenue. Analysis

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ALT shares. B. Riley Financial reiterated a “buy” rating on shares of Altimmune in a research report on Friday. Evercore reissued an “outperform” rating on shares of Altimmune in a research note on Wednesday, September 23rd. Citigroup restated a “market outperform” rating on shares of Altimmune in a research report on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Altimmune in a research note on Monday, September 21st. Finally, Wall Street Zen lowered Altimmune from a “sell” rating to a “strong sell” rating in a research note on Saturday. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Altimmune has a consensus rating of “Moderate Buy” and an average price target of $14.33.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC raised its stake in shares of Altimmune by 21,755.0% in the 3rd quarter. Parallel Advisors LLC now owns 8,742 shares of the company’s stock valued at $25,000 after acquiring an additional 8,702 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Altimmune in the 3rd quarter worth approximately $28,000. IPG Investment Advisors LLC acquired a new position in shares of Altimmune in the 3rd quarter worth approximately $29,000. Quantinno Capital Management LP acquired a new position in shares of Altimmune in the 1st quarter worth approximately $33,000. Finally, B. Riley Wealth Advisors Inc. purchased a new position in shares of Altimmune during the 3rd quarter worth approximately $36,000. Hedge funds and other institutional investors own 78.05% of the company’s stock.

Altimmune Company Profile

Altimmune, Inc. is a clinical-stage biopharmaceutical company developing peptide-based treatments for obesity and liver diseases. The company is headquartered in Gaithersburg, Maryland. Its lead candidate, pemvidutide, is an investigational medicine that activates GLP-1 and glucagon receptors. Altimmune has studied the drug for obesity and metabolic dysfunction-associated steatohepatitis (MASH), a serious form of fatty liver disease. Altimmune’s work focuses on advancing treatments through clinical development; pemvidutide is not an approved medicine.