Altimmune (NASDAQ:ALT) Trading Up 6.3% - What's Next?

Altimmune, Inc. (NASDAQ:ALT - Get Free Report)'s stock price was up 6.3% during mid-day trading on Friday . The company traded as high as $7.08 and last traded at $7.21. Approximately 2,477,785 shares traded hands during 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 recently weighed in on ALT shares. HC Wainwright reissued a "buy" rating and issued a $12.00 target price on shares of Altimmune in a report on Thursday, April 3rd. William Blair restated a "market perform" rating on shares of Altimmune in a report on Friday, March 14th. Finally, Wall Street Zen downgraded shares of Altimmune from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.20.

Altimmune Stock Up 5.1%

The firm has a market capitalization of $577.91 million, a price-to-earnings ratio of -5.73 and a beta of 0.58. The stock's 50-day moving average price is $5.57 and its 200 day moving average price is $6.24.

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, topping 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 business had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.00 million. During the same period last year, the company posted ($0.34) EPS. On average, sell-side analysts anticipate that Altimmune, Inc. will post -1.35 earnings per share for the current year.

Institutional Trading of Altimmune

A number of hedge funds and other institutional investors have recently modified their holdings of ALT. SBI Securities Co. Ltd. acquired a new position in Altimmune in the 4th quarter valued at about $45,000. GAMMA Investing LLC raised its position in shares of Altimmune by 214.2% during the 1st quarter. GAMMA Investing LLC now owns 6,745 shares of the company's stock valued at $34,000 after buying an additional 4,598 shares during the period. Virtus ETF Advisers LLC acquired a new position in Altimmune in the fourth quarter valued at approximately $60,000. Cullen Frost Bankers Inc. acquired a new position in Altimmune in the fourth quarter valued at approximately $72,000. Finally, Magnus Financial Group LLC purchased a new position in Altimmune in the first quarter worth approximately $50,000. 78.05% of the stock is 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.

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