Altimmune (NASDAQ:ALT) Trading Up 9.8% – What’s Next?

Altimmune, Inc. (NASDAQ:ALT) shares shot up 9.8% on Monday . The stock traded as high as $3.05 and last traded at $2.9650. Approximately 1,219,605 shares were traded during trading, a decline of 71% from the average daily volume of 4,213,115 shares. The stock had previously closed at $2.70.

Wall Street Analysts Forecast Growth

ALT has been the topic of a number of research reports. Wall Street Zen lowered shares of Altimmune from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Citigroup reaffirmed a “market outperform” rating on shares of Altimmune in a research report on Tuesday, June 2nd. William Blair reiterated a “market perform” rating on shares of Altimmune in a research note on Thursday, March 5th. Truist Financial assumed coverage on shares of Altimmune in a research report on Wednesday, March 18th. They set a “buy” rating and a $12.00 price target on the stock. Finally, HC Wainwright restated a “buy” rating and set a $20.00 price objective (down from $25.00) on shares of Altimmune in a research note on Monday, May 18th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.71.

Altimmune Trading Down 0.7%

The company has a market cap of $565.91 million, a P/E ratio of -3.13 and a beta of 0.21. The company has a current ratio of 29.56, a quick ratio of 29.56 and a debt-to-equity ratio of 0.12. The business has a 50 day moving average price of $2.94 and a 200-day moving average price of $3.79.

Altimmune (NASDAQ:ALT) last released its earnings results on Wednesday, May 13th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.07. Altimmune had a negative net margin of 214,860.98% and a negative return on equity of 42.57%. Analysts forecast that Altimmune, Inc. will post -0.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ALT. Two Sigma Investments LP grew its holdings in Altimmune by 356.6% during the third quarter. Two Sigma Investments LP now owns 1,996,848 shares of the company’s stock worth $7,528,000 after purchasing an additional 1,559,562 shares during the period. State Street Corp increased its position in Altimmune by 42.2% during the fourth quarter. State Street Corp now owns 5,119,703 shares of the company’s stock worth $18,482,000 after buying an additional 1,518,448 shares during the last quarter. Vanguard Group Inc. raised its stake in Altimmune by 23.3% in the third quarter. Vanguard Group Inc. now owns 6,373,638 shares of the company’s stock valued at $24,029,000 after buying an additional 1,206,514 shares during the period. Nuveen LLC raised its stake in Altimmune by 514.9% in the fourth quarter. Nuveen LLC now owns 1,244,211 shares of the company’s stock valued at $4,492,000 after buying an additional 1,041,856 shares during the period. Finally, Marshall Wace LLP acquired a new stake in shares of Altimmune in the fourth quarter valued at approximately $3,331,000. 78.05% of the stock is currently owned by institutional investors and hedge funds.

Altimmune Company Profile

Altimmune, Inc is a clinical-stage biopharmaceutical company headquartered in Gaithersburg, Maryland, dedicated to the development of vaccines and immunotherapeutics. The company leverages proprietary technology platforms to create intranasal vaccine candidates and novel therapies targeting liver diseases and metabolic disorders. Altimmune’s approach emphasizes the stimulation of both systemic and mucosal immune responses to address unmet medical needs in infectious and chronic conditions.

Among its lead programs, NasoVAX is an investigational intranasal influenza vaccine designed to provide broad, long-lasting protection through a single, non-invasive dose.