Altimmune (NASDAQ:ALT) Shares Gap Up – What’s Next?

Altimmune, Inc. (NASDAQ:ALT)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $2.96, but opened at $3.16. Altimmune shares last traded at $3.07, with a volume of 6,413,156 shares.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ALT shares. Wall Street Zen upgraded shares of Altimmune from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 27th. HC Wainwright reissued a “buy” rating and set a $20.00 price target (down from $25.00) on shares of Altimmune in a research note on Monday, May 18th. Citizens Jmp decreased their price objective on Altimmune from $14.00 to $11.00 and set a “market outperform” rating on the stock in a report on Thursday, May 14th. Leerink Partners started coverage on Altimmune in a research report on Monday, June 22nd. They issued an “outperform” rating and a $10.00 price objective for the company. Finally, Citigroup reiterated a “market outperform” rating on shares of Altimmune in a research note on Tuesday, June 2nd. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.71.

Altimmune Trading Up 0.5%

The stock has a market capitalization of $578.56 million, a price-to-earnings ratio of -3.18 and a beta of 0.25. The company has a debt-to-equity ratio of 0.12, a current ratio of 29.56 and a quick ratio of 29.56. The business’s 50-day simple moving average is $2.88 and its two-hundred day simple moving average is $3.53.

Altimmune (NASDAQ:ALT) last released its quarterly earnings data on Wednesday, May 13th. The company reported ($0.18) EPS 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, research analysts anticipate that Altimmune, Inc. will post -0.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ALT. Hennion & Walsh Asset Management Inc. lifted its holdings in Altimmune by 156.5% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 518,198 shares of the company’s stock worth $1,575,000 after buying an additional 316,209 shares during the last quarter. PVG Asset Management Corp bought a new stake in shares of Altimmune in the 1st quarter valued at approximately $204,000. Bank of America Corp DE increased its holdings in shares of Altimmune by 48.6% in the 1st quarter. Bank of America Corp DE now owns 570,203 shares of the company’s stock valued at $1,756,000 after acquiring an additional 186,420 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Altimmune by 101.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 35,650 shares of the company’s stock valued at $110,000 after acquiring an additional 17,967 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Altimmune by 26.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 34,763 shares of the company’s stock valued at $107,000 after acquiring an additional 7,167 shares in the last quarter. 78.05% of the stock is currently owned by 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.