Portolan Capital Management LLC Sells 579,266 Shares of Altimmune, Inc. (NASDAQ:ALT)

Portolan Capital Management LLC lessened its stake in shares of Altimmune, Inc. (NASDAQ:ALT - Free Report) by 90.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 60,976 shares of the company's stock after selling 579,266 shares during the quarter. Portolan Capital Management LLC owned approximately 0.09% of Altimmune worth $374,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Larson Financial Group LLC bought a new position in Altimmune in the 3rd quarter valued at approximately $31,000. Horizon Wealth Management LLC bought a new position in shares of Altimmune during the second quarter valued at $66,000. PFG Investments LLC acquired a new position in shares of Altimmune during the second quarter worth $67,000. Principal Financial Group Inc. bought a new stake in shares of Altimmune in the second quarter worth $70,000. Finally, Verus Capital Partners LLC acquired a new stake in Altimmune in the second quarter valued at $82,000. 78.05% of the stock is currently owned by institutional investors and hedge funds.

Altimmune Price Performance

Shares of NASDAQ:ALT traded down $0.71 during mid-day trading on Thursday, hitting $9.14. The company had a trading volume of 4,663,965 shares, compared to its average volume of 3,862,810. Altimmune, Inc. has a one year low of $4.71 and a one year high of $14.84. The firm has a fifty day moving average price of $7.33 and a 200 day moving average price of $6.99. The company has a market capitalization of $650.04 million, a PE ratio of -5.92 and a beta of 0.15.

Altimmune (NASDAQ:ALT - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.03. Altimmune had a negative net margin of 199,076.92% and a negative return on equity of 55.81%. The business had revenue of $0.01 million for the quarter. During the same period in the prior year, the company earned ($0.39) earnings per share. Research analysts expect that Altimmune, Inc. will post -1.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on ALT. Evercore ISI upgraded Altimmune to a "strong-buy" rating in a research report on Friday, August 9th. UBS Group began coverage on Altimmune in a report on Tuesday, November 12th. They issued a "buy" rating and a $26.00 target price on the stock. B. Riley restated a "buy" rating and set a $20.00 price target on shares of Altimmune in a report on Monday, August 12th. Finally, HC Wainwright reiterated a "buy" rating and set a $12.00 price objective on shares of Altimmune in a research report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $20.00.

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.