Altimmune (NASDAQ:ALT) Stock Price Up 6.3% - Here's Why

Shares of Altimmune, Inc. (NASDAQ:ALT - Get Free Report) were up 6.3% during trading on Friday . The company traded as high as $7.08 and last traded at $7.21. Approximately 2,477,785 shares changed hands during mid-day trading, a decline of 15% from the average daily volume of 2,904,750 shares. The stock had previously closed at $6.78.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Wall Street Zen downgraded Altimmune from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. HC Wainwright reiterated a "buy" rating and issued a $12.00 price objective on shares of Altimmune in a report on Thursday, April 3rd. Finally, William Blair restated a "market perform" rating on shares of Altimmune in a report on Friday, March 14th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Altimmune currently has a consensus rating of "Moderate Buy" and an average price target of $19.00.

Altimmune Stock Down 0.6%

The firm has a market capitalization of $566.94 million, a P/E ratio of -5.55 and a beta of 0.58. The stock has a fifty day moving average of $5.62 and a 200-day moving average of $6.19.

Altimmune (NASDAQ:ALT - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.35) by $0.09. Altimmune had a negative net margin of 451,200.00% and a negative return on equity of 65.44%. The company had revenue of $0.01 million for the quarter, compared to the consensus estimate of $0.00 million. During the same period last year, the company earned ($0.34) earnings per share. Sell-side analysts predict that Altimmune, Inc. will post -1.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Altimmune

A number of large investors have recently modified their holdings of ALT. Geneos Wealth Management Inc. acquired a new stake in shares of Altimmune in the 1st quarter valued at approximately $50,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position 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 acquiring an additional 2,241 shares in the last quarter. MetLife Investment Management LLC raised its position in Altimmune by 5.4% during the first quarter. MetLife Investment Management LLC now owns 46,870 shares of the company's stock worth $234,000 after acquiring an additional 2,396 shares in the last quarter. AlphaQuest LLC acquired a new stake in Altimmune in the first quarter valued at $99,000. Finally, Hsbc Holdings PLC acquired a new stake in Altimmune in the first quarter valued at $349,000. 78.05% of the stock is currently owned by institutional investors and hedge funds.

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.