Altimmune (NASDAQ:ALT) Trading Up 7% - Here's What Happened

Altimmune, Inc. (NASDAQ:ALT - Get Free Report)'s stock price rose 7% during mid-day trading on Tuesday . The stock traded as high as $7.50 and last traded at $7.50. Approximately 1,995,193 shares were traded during trading, a decline of 48% from the average daily volume of 3,804,597 shares. The stock had previously closed at $7.01.

Wall Street Analysts Forecast Growth

ALT has been the subject of several recent analyst reports. Evercore ISI upgraded Altimmune to a "strong-buy" rating in a research report on Friday, August 9th. B. Riley restated a "buy" rating and set a $20.00 target price on shares of Altimmune in a report on Monday, August 12th. Finally, HC Wainwright reiterated a "buy" rating and set a $12.00 target price on shares of Altimmune in a report on Thursday, August 22nd. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $18.80.

Altimmune Stock Performance

The stock has a market capitalization of $523.08 million, a P/E ratio of -4.54 and a beta of 0.08. The firm has a fifty day moving average price of $6.76 and a two-hundred day moving average price of $6.86.

Altimmune (NASDAQ:ALT - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.01). The company had revenue of $0.01 million for the quarter. Altimmune had a negative net margin of 24,778.97% and a negative return on equity of 53.09%. During the same period in the prior year, the business posted ($0.32) earnings per share. On average, research analysts anticipate that Altimmune, Inc. will post -0.54 earnings per share for the current fiscal year.

Insider Transactions at Altimmune

In other news, Director David Drutz sold 16,011 shares of Altimmune stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $6.90, for a total value of $110,475.90. Following the transaction, the director now owns 41,958 shares of the company's stock, valued at $289,510.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.10% of the company's stock.

Institutional Trading of Altimmune

Several institutional investors and hedge funds have recently bought and sold shares of the business. North Star Investment Management Corp. acquired a new position in shares of Altimmune in the 1st quarter valued at $31,000. CANADA LIFE ASSURANCE Co purchased a new stake in Altimmune in the 1st quarter worth $44,000. TFO Wealth Partners LLC purchased a new stake in Altimmune in the 1st quarter worth $51,000. Horizon Wealth Management LLC purchased a new stake in Altimmune in the 2nd quarter worth $66,000. Finally, PFG Investments LLC purchased a new stake in Altimmune in the 2nd quarter worth $67,000. 78.05% of the stock is currently owned by institutional investors and hedge funds.

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.