Invesco Ltd. Decreases Stock Position in Altimmune, Inc. $ALT

Key Points

• Invesco Ltd. has reduced its stake in Altimmune, Inc. by 67.2%, selling 165,958 shares, and now holds 81,128 shares valued at approximately $406,000.
• Several institutional investors, including Deutsche Bank AG and Brown Wealth Management LLC, have either increased their holdings or entered new positions in Altimmune during the same period.
• Altimmune reported a quarterly EPS of (0.27), surpassing analyst expectations, despite a negative return on equity and a prediction of (1.35) EPS for the current year.

Invesco Ltd. lessened its stake in shares of Altimmune, Inc. (NASDAQ:ALT - Free Report) by 67.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 81,128 shares of the company's stock after selling 165,958 shares during the period. Invesco Ltd. owned 0.11% of Altimmune worth $406,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of America Corp DE grew its holdings in shares of Altimmune by 21.7% during the fourth quarter. Bank of America Corp DE now owns 181,889 shares of the company's stock worth $1,311,000 after buying an additional 32,382 shares in the last quarter. Northern Trust Corp grew its stake in Altimmune by 5.7% during the 4th quarter. Northern Trust Corp now owns 665,916 shares of the company's stock valued at $4,801,000 after acquiring an additional 35,918 shares in the last quarter. Deutsche Bank AG raised its holdings in Altimmune by 37.7% in the 4th quarter. Deutsche Bank AG now owns 76,825 shares of the company's stock valued at $554,000 after acquiring an additional 21,033 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Altimmune by 16.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 92,392 shares of the company's stock worth $666,000 after purchasing an additional 13,126 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Altimmune by 139.8% during the 4th quarter. Millennium Management LLC now owns 345,637 shares of the company's stock worth $2,492,000 after purchasing an additional 201,484 shares during the last quarter. 78.05% of the stock is owned by hedge funds and other institutional investors.

Altimmune Trading Up 0.5%

Shares of ALT traded up $0.02 during midday trading on Thursday, hitting $3.69. 2,060,994 shares of the stock were exchanged, compared to its average volume of 2,531,015. Altimmune, Inc. has a 52-week low of $2.90 and a 52-week high of $11.16. The company has a debt-to-equity ratio of 0.09, a quick ratio of 20.44 and a current ratio of 20.44. The stock has a fifty day simple moving average of $3.85 and a 200 day simple moving average of $4.90. The firm has a market cap of $325.68 million, a P/E ratio of -3.13 and a beta of 0.18.

Altimmune (NASDAQ:ALT - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.05. Altimmune had a negative return on equity of 62.63% and a negative net margin of 438,730.03%.The firm had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.00 million. On average, research analysts anticipate that Altimmune, Inc. will post -1.35 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on ALT shares. JMP Securities cut their price target on Altimmune from $25.00 to $15.00 and set a "market outperform" rating for the company in a report on Thursday, July 10th. B. Riley cut their target price on Altimmune from $20.00 to $18.00 and set a "buy" rating for the company in a research note on Wednesday, August 13th. UBS Group reduced their price target on Altimmune from $26.00 to $24.00 and set a "buy" rating on the stock in a report on Wednesday, August 13th. Wall Street Zen raised shares of Altimmune from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, The Goldman Sachs Group upgraded shares of Altimmune to a "strong sell" rating in a research report on Thursday, July 10th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Altimmune presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.40.

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.