Altimmune (NASDAQ:ALT) Shares Gap Up - Here's Why

Key Points

• Altimmune shares gapped higher, opening at $3.16 versus a prior close of $2.96, and last traded at $3.07 on volume of approximately 6.4 million shares.
• Analyst sentiment remains broadly positive, with eight Buy ratings, one Hold and one Sell; the consensus rating is “Moderate Buy” with a $15.71 price target, despite several recent target reductions.
• Institutional investors own approximately 78.05% of Altimmune, while the company reported a quarterly loss of $0.18 per share—better than the expected $0.25 loss—and analysts forecast a full-year loss of $0.64 per share.

Shares of Altimmune, Inc. (NASDAQ:ALT - Get Free Report) 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 traded.

Analyst Ratings Changes

A number of research firms have commented on ALT. Citigroup reaffirmed a "market outperform" rating on shares of Altimmune in a research report on Tuesday, June 2nd. HC Wainwright reiterated a "buy" rating and set a $20.00 price target (down from $25.00) on shares of Altimmune in a research report on Monday, May 18th. Citizens Jmp reduced their price target on shares of Altimmune from $14.00 to $11.00 and set a "market outperform" rating on the stock in a research note on Thursday, May 14th. Weiss Ratings restated a "sell (d-)" rating on shares of Altimmune in a report on Wednesday, June 24th. Finally, Wall Street Zen raised shares of Altimmune from a "strong sell" rating to a "sell" rating in a research report on Saturday, June 27th. Eight equities 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 company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $15.71.

Altimmune Trading Up 0.5%

The stock has a market cap 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 moving average is $2.88 and its 200 day moving average is $3.53.

Altimmune (NASDAQ:ALT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping 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%. As a group, equities analysts expect that Altimmune, Inc. will post -0.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Altimmune by 4.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,901 shares of the company's stock worth $247,000 after purchasing an additional 2,241 shares during the last quarter. Geneos Wealth Management Inc. purchased a new stake in Altimmune in the 1st quarter valued at approximately $50,000. Envestnet Asset Management Inc. increased its position in Altimmune by 48.0% during the second quarter. Envestnet Asset Management Inc. now owns 32,908 shares of the company's stock worth $127,000 after buying an additional 10,671 shares in the last quarter. Creative Planning increased its position in Altimmune by 30.2% during 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 holdings 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 acquiring an additional 7,462 shares during the last quarter. Hedge funds and other institutional investors own 78.05% of the company's stock.

Altimmune Company Profile

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.

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