Altimmune (NASDAQ:ALT) Shares Gap Up to $6.38

Altimmune, Inc. (NASDAQ:ALT)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $6.38, but opened at $6.53. Altimmune shares last traded at $7.11, with a volume of 2,874,058 shares changing hands.

Analysts Set New Price Targets

Several research firms have recently issued reports on ALT. Piper Sandler reissued an “overweight” rating and issued a $25.00 target price on shares of Altimmune in a report on Friday, June 21st. B. Riley reissued a “buy” rating and set a $20.00 price objective on shares of Altimmune in a report on Monday, August 12th. HC Wainwright restated a “buy” rating and set a $12.00 price objective on shares of Altimmune in a research report on Thursday, August 22nd. Finally, Evercore ISI upgraded Altimmune to a “strong-buy” rating in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.80.

Altimmune Stock Performance

The business’s fifty day moving average price is $6.64 and its two-hundred day moving average price is $7.65. The stock has a market capitalization of $493.48 million, a P/E ratio of -4.55 and a beta of 0.08.

Altimmune (NASDAQ:ALT) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.01). The company had revenue of $0.01 million for the quarter. Altimmune had a negative return on equity of 53.09% and a negative net margin of 24,778.97%. During the same quarter in the prior year, the firm earned ($0.32) earnings per share. As a group, analysts forecast that Altimmune, Inc. will post -0.54 earnings per share for the current year.

Insider Buying and Selling

In related news, Director David Drutz sold 16,011 shares of Altimmune stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $6.90, for a total transaction of $110,475.90. Following the completion of the transaction, the director now directly owns 41,958 shares of the company’s stock, valued at approximately $289,510.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 4.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Altimmune

A number of institutional investors and hedge funds have recently modified their holdings of ALT. Gerber LLC purchased a new stake in shares of Altimmune in the fourth quarter valued at approximately $2,878,000. Swiss National Bank bought a new position in shares of Altimmune during the 1st quarter worth $1,079,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Altimmune during the 1st quarter worth $271,000. Lighthouse Investment Partners LLC purchased a new position in shares of Altimmune during the fourth quarter valued at $4,493,000. Finally, Sectoral Asset Management Inc. bought a new stake in shares of Altimmune in the fourth quarter valued at about $1,922,000. 78.05% of the stock is owned by institutional investors.

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.