Altimmune (NASDAQ:ALT) Upgraded to Strong Sell at The Goldman Sachs Group

Altimmune (NASDAQ:ALT - Get Free Report) was upgraded by equities research analysts at The Goldman Sachs Group to a "strong sell" rating in a research note issued to investors on Thursday, MarketBeat reports.

Other equities analysts have also recently issued research reports about the company. HC Wainwright reiterated a "buy" rating and set a $12.00 target price on shares of Altimmune in a report on Friday, June 27th. Wall Street Zen cut Altimmune from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. JMP Securities reduced their price target on Altimmune from $25.00 to $15.00 and set a "market outperform" rating for the company in a research report on Thursday. Finally, William Blair reiterated a "market perform" rating on shares of Altimmune in a report on Friday, June 27th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $18.20.

Altimmune Stock Performance

ALT opened at $4.14 on Thursday. The company has a fifty day moving average price of $5.62 and a two-hundred day moving average price of $5.82. The firm has a market capitalization of $335.80 million, a PE ratio of -3.29 and a beta of 0.47. Altimmune has a 52 week low of $2.90 and a 52 week high of $11.16.

Altimmune (NASDAQ:ALT - Get Free Report) last released its earnings results on Tuesday, May 13th. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.09. The firm had revenue of $0.01 million for the quarter, compared to analyst estimates 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 quarter in the prior year, the firm posted ($0.34) earnings per share. Equities analysts forecast that Altimmune will post -1.35 EPS for the current year.

Institutional Investors Weigh In On Altimmune

A number of institutional investors and hedge funds have recently made changes to their positions in ALT. Ameriprise Financial Inc. increased its holdings in Altimmune by 35.6% during the fourth quarter. Ameriprise Financial Inc. now owns 5,254,898 shares of the company's stock worth $37,888,000 after buying an additional 1,378,854 shares during the last quarter. RFG Advisory LLC acquired a new position in shares of Altimmune during the 1st quarter worth about $1,622,000. Nuveen LLC bought a new stake in shares of Altimmune in the 1st quarter valued at about $1,304,000. Invesco Ltd. lifted its stake in Altimmune by 679.2% in the 4th quarter. Invesco Ltd. now owns 247,086 shares of the company's stock valued at $1,781,000 after purchasing an additional 215,375 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in Altimmune by 139.8% in the 4th quarter. Millennium Management LLC now owns 345,637 shares of the company's stock valued at $2,492,000 after purchasing an additional 201,484 shares during the last quarter. Institutional investors own 78.05% of the company's stock.

About Altimmune

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.