Altimmune (NASDAQ:ALT) Hits New 12-Month Low - Here's What Happened

Altimmune, Inc. (NASDAQ:ALT - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $2.90 and last traded at $3.61, with a volume of 85681553 shares trading hands. The stock had previously closed at $7.71.

Analysts Set New Price Targets

ALT has been the topic of a number of recent analyst reports. William Blair reiterated a "market perform" rating on shares of Altimmune in a research report on Friday, March 14th. HC Wainwright reiterated a "buy" rating and issued a $12.00 target price on shares of Altimmune in a research report on Thursday, April 3rd. Finally, Wall Street Zen cut Altimmune from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $19.00.

Altimmune Price Performance

The company has a market capitalization of $292.81 million, a P/E ratio of -2.87 and a beta of 0.58. The company has a fifty day moving average price of $5.77 and a two-hundred day moving average price of $6.15.

Altimmune (NASDAQ:ALT - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.09. The company had revenue of $0.01 million for the quarter, compared to analysts' expectations of $0.00 million. Altimmune had a negative return on equity of 65.44% and a negative net margin of 451,200.00%. During the same period in the previous year, the business posted ($0.34) earnings per share. As a group, sell-side analysts forecast that Altimmune, Inc. will post -1.35 earnings per share for the current year.

Hedge Funds Weigh In On Altimmune

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its stake in shares of Altimmune by 214.2% in the first quarter. GAMMA Investing LLC now owns 6,745 shares of the company's stock worth $34,000 after acquiring an additional 4,598 shares during the period. SBI Securities Co. Ltd. acquired a new position in Altimmune in the fourth quarter valued at approximately $45,000. Magnus Financial Group LLC acquired a new position in Altimmune in the first quarter valued at approximately $50,000. Headland Capital LLC acquired a new position in Altimmune in the first quarter valued at approximately $50,000. Finally, Geneos Wealth Management Inc. acquired a new position in Altimmune in the first quarter valued at approximately $50,000. 78.05% of the stock is owned by institutional investors and hedge funds.

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.

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