Altimmune (NASDAQ:ALT) Releases Earnings Results, Beats Expectations By $0.08 EPS

Altimmune (NASDAQ:ALT) announced its earnings results on Thursday. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.08, Zacks reports. Altimmune had a negative return on equity of 62.63% and a negative net margin of 438,730.03%.The business had revenue of $0.01 million during the quarter, compared to the consensus estimate of $0.00 million.

Altimmune Stock Up 4.3%

ALT stock traded up $0.17 during mid-day trading on Friday, hitting $4.11. The stock had a trading volume of 4,196,187 shares, compared to its average volume of 3,502,033. Altimmune has a 1-year low of $2.90 and a 1-year high of $11.16. The company has a fifty day moving average of $3.87 and a 200 day moving average of $4.54. The company has a current ratio of 20.44, a quick ratio of 20.44 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $362.74 million, a price-to-earnings ratio of -3.48 and a beta of 0.01.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. B. Riley cut their price objective on Altimmune from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, August 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Altimmune in a report on Wednesday, October 8th. Citizens Jmp reduced their price target on shares of Altimmune from $15.00 to $14.00 and set a “market outperform” rating for the company in a research report on Friday. HC Wainwright reiterated a “buy” rating and set a $12.00 price objective on shares of Altimmune in a research report on Monday, October 20th. Finally, UBS Group cut their target price on shares of Altimmune from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday, August 13th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Altimmune presently has an average rating of “Hold” and a consensus target price of $16.83.

Institutional Trading of Altimmune

A number of institutional investors have recently added to or reduced their stakes in ALT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Altimmune by 4.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,901 shares of the company’s stock worth $247,000 after purchasing an additional 2,241 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Altimmune by 10.9% in the second quarter. The Manufacturers Life Insurance Company now owns 27,945 shares of the company’s stock worth $108,000 after purchasing an additional 2,748 shares in the last quarter. BNP Paribas Financial Markets increased its position in Altimmune by 108.5% during the second quarter. BNP Paribas Financial Markets now owns 10,095 shares of the company’s stock worth $39,000 after buying an additional 5,253 shares during the last quarter. Rhumbline Advisers increased its position in Altimmune by 7.0% during the second quarter. Rhumbline Advisers now owns 113,981 shares of the company’s stock worth $441,000 after buying an additional 7,462 shares during the last quarter. Finally, Creative Planning raised its holdings in Altimmune by 30.2% during the second quarter. Creative Planning now owns 41,164 shares of the company’s stock valued at $159,000 after buying an additional 9,558 shares in the last quarter. 78.05% of the stock is currently 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 metabolic dysfunction-associated steatohepatitis.