Altimmune (NASDAQ:ALT) Trading Up 11.6% – What’s Next?

Altimmune, Inc. (NASDAQ:ALT)’s stock price rose 11.6% during mid-day trading on Wednesday . The company traded as high as $3.13 and last traded at $3.3940. Approximately 666,507 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 4,309,428 shares. The stock had previously closed at $3.04.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Citigroup reiterated a “market outperform” rating on shares of Altimmune in a research note on Tuesday, June 2nd. B. Riley Financial reduced their price target on shares of Altimmune from $18.00 to $13.00 and set a “buy” rating for the company in a research report on Friday, March 6th. HC Wainwright restated a “buy” rating and set a $20.00 price objective (down from $25.00) on shares of Altimmune in a report on Monday, May 18th. William Blair reaffirmed a “market perform” rating on shares of Altimmune in a research report on Thursday, March 5th. Finally, Leerink Partners started coverage on shares of Altimmune in a research note on Monday, June 22nd. They issued an “outperform” rating and a $10.00 target price on the stock. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $15.71.

Altimmune Trading Up 0.3%

The company has a debt-to-equity ratio of 0.12, a quick ratio of 29.56 and a current ratio of 29.56. The firm has a market cap of $614.53 million, a P/E ratio of -3.40 and a beta of 0.25. The firm has a 50 day simple moving average of $2.88 and a 200 day simple moving average of $3.67.

Altimmune (NASDAQ:ALT) last announced its quarterly 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 return on equity of 42.57% and a negative net margin of 214,860.98%. On average, equities research analysts predict that Altimmune, Inc. will post -0.69 EPS for the current fiscal year.

Institutional Trading of Altimmune

Institutional investors and hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Altimmune by 4.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,901 shares of the company’s stock valued at $247,000 after purchasing an additional 2,241 shares during the period. Geneos Wealth Management Inc. bought a new position in shares of Altimmune in the first quarter worth $50,000. Envestnet Asset Management Inc. increased its holdings in shares of Altimmune by 48.0% in the second quarter. Envestnet Asset Management Inc. now owns 32,908 shares of the company’s stock worth $127,000 after purchasing an additional 10,671 shares during the period. Creative Planning raised its position in shares of Altimmune by 30.2% in the second quarter. Creative Planning now owns 41,164 shares of the company’s stock worth $159,000 after buying an additional 9,558 shares in the last quarter. Finally, Rhumbline Advisers raised its position in shares of Altimmune by 7.0% in 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 in the last quarter. 78.05% of the stock is currently owned by hedge funds and other institutional investors.

About Altimmune

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.