Millennium Management LLC Raises Position in Altimmune, Inc. (NASDAQ:ALT)

Millennium Management LLC boosted its holdings in shares of Altimmune, Inc. (NASDAQ:ALT - Free Report) by 139.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 345,637 shares of the company's stock after purchasing an additional 201,484 shares during the quarter. Millennium Management LLC owned approximately 0.49% of Altimmune worth $2,492,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new stake in Altimmune during the 4th quarter worth about $45,000. Virtus ETF Advisers LLC purchased a new position in shares of Altimmune during the 4th quarter worth $60,000. Cullen Frost Bankers Inc. purchased a new position in shares of Altimmune in the 4th quarter worth $72,000. KLP Kapitalforvaltning AS purchased a new position in Altimmune in the fourth quarter valued at about $81,000. Finally, Raymond James Financial Inc. purchased a new position in Altimmune in the fourth quarter valued at about $88,000. Hedge funds and other institutional investors own 78.05% of the company's stock.

Wall Street Analysts Forecast Growth

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

Altimmune Trading Up 2.1%

Shares of Altimmune stock traded up $0.11 during trading hours on Tuesday, reaching $5.41. 1,657,164 shares of the company's stock were exchanged, compared to its average volume of 2,816,489. The company has a 50 day moving average of $5.08 and a two-hundred day moving average of $6.39. The stock has a market cap of $438.79 million, a P/E ratio of -3.49 and a beta of 1.13. Altimmune, Inc. has a fifty-two week low of $3.55 and a fifty-two week high of $11.16.

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

Insiders Place Their Bets

In related news, CFO Gregory L. Weaver acquired 10,000 shares of the stock in a transaction dated Thursday, March 13th. The shares were purchased at an average price of $5.20 per share, for a total transaction of $52,000.00. Following the transaction, the chief financial officer now owns 10,000 shares in the company, valued at $52,000. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 4.10% of the stock is currently owned by insiders.

Altimmune 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.