Altimmune (NASDAQ:ALT) Trading Up 4.7% - Here's Why

Altimmune, Inc. (NASDAQ:ALT - Get Free Report)'s share price was up 4.7% on Thursday . The company traded as high as $8.33 and last traded at $8.27. Approximately 1,143,669 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 3,822,978 shares. The stock had previously closed at $7.90.

Wall Street Analyst Weigh In

Several equities analysts have commented on ALT shares. HC Wainwright reaffirmed a "buy" rating and issued a $12.00 price objective on shares of Altimmune in a research report on Thursday, November 14th. UBS Group initiated coverage on Altimmune in a research note on Tuesday, November 12th. They issued a "buy" rating and a $26.00 price target for the company. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $20.00.

Altimmune Stock Up 3.5 %

The stock has a 50-day simple moving average of $7.89 and a 200 day simple moving average of $7.10. The company has a market cap of $581.80 million, a PE ratio of -5.28 and a beta of 0.15.

Altimmune (NASDAQ:ALT - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.03. Altimmune had a negative return on equity of 55.81% and a negative net margin of 199,076.92%. The business had revenue of $0.01 million during the quarter. During the same quarter in the previous year, the business posted ($0.39) EPS. As a group, research analysts anticipate that Altimmune, Inc. will post -1.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Altimmune

Several hedge funds have recently made changes to their positions in ALT. B. Riley Wealth Advisors Inc. raised its position in Altimmune by 12.9% in the third quarter. B. Riley Wealth Advisors Inc. now owns 23,454 shares of the company's stock worth $144,000 after acquiring an additional 2,687 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Altimmune during the 3rd quarter valued at $674,000. Barclays PLC raised its holdings in shares of Altimmune by 93.0% in the 3rd quarter. Barclays PLC now owns 155,741 shares of the company's stock worth $956,000 after purchasing an additional 75,064 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Altimmune by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,668,004 shares of the company's stock valued at $10,244,000 after acquiring an additional 74,194 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in Altimmune by 27.5% during the 3rd quarter. Wellington Management Group LLP now owns 197,232 shares of the company's stock valued at $1,211,000 after acquiring an additional 42,553 shares during the last quarter. Hedge funds and other institutional investors own 78.05% of the company's stock.

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.