Altimmune (NASDAQ:ALT) Trading 8.7% Higher - Time to Buy?

Altimmune, Inc. (NASDAQ:ALT - Get Free Report)'s stock price was up 8.7% on Tuesday . The company traded as high as $6.41 and last traded at $6.47. Approximately 724,862 shares changed hands during trading, a decline of 74% from the average daily volume of 2,825,199 shares. The stock had previously closed at $5.95.

Analysts Set New Price Targets

A number of analysts have weighed in on ALT shares. HC Wainwright reissued a "buy" rating and set a $12.00 target price on shares of Altimmune in a research report on Thursday, April 3rd. Wall Street Zen upgraded Altimmune from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, William Blair restated a "market perform" rating on shares of Altimmune in a report on Friday, March 14th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $20.20.

Altimmune Trading Down 3.2%

The stock has a market capitalization of $561.26 million, a PE ratio of -4.46 and a beta of 0.58. The firm has a 50-day moving average price of $5.35 and a 200-day moving average price of $6.29.

Altimmune (NASDAQ:ALT - Get Free Report) last announced its earnings results on Tuesday, May 13th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.09. Altimmune had a negative return on equity of 55.81% and a negative net margin of 199,076.92%. The firm had revenue of $0.01 million during the quarter, compared to analyst estimates of $0.00 million. During the same period last year, the firm posted ($0.34) EPS. Sell-side analysts expect that Altimmune, Inc. will post -1.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Altimmune

Large investors have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. bought a new position in shares of Altimmune in the first quarter valued at approximately $50,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Altimmune by 4.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,901 shares of the company's stock valued at $247,000 after acquiring an additional 2,241 shares during the period. MetLife Investment Management LLC boosted its position in shares of Altimmune by 5.4% in the first quarter. MetLife Investment Management LLC now owns 46,870 shares of the company's stock valued at $234,000 after acquiring an additional 2,396 shares during the period. AlphaQuest LLC bought a new position in shares of Altimmune in the first quarter valued at approximately $99,000. Finally, Hsbc Holdings PLC bought a new position in shares of Altimmune in the first quarter valued at approximately $349,000. Hedge funds and other institutional investors own 78.05% of the company's stock.

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.