Bank of New York Mellon Corp Makes New $2.10 Million Investment in Altimmune, Inc. $ALT

Key Points

• Bank of New York Mellon purchased 689,713 Altimmune shares worth approximately $2.10 million, representing a 0.35% stake. Institutional investors collectively own 78.05% of the company.
• Analyst sentiment is broadly positive, with seven Buy ratings, one Hold, and one Sell; Altimmune has a consensus “Moderate Buy” rating and a $14.33 price target, despite some recent target reductions.
• Altimmune shares opened at $3.42, within a 52-week range of $2.56 to $6.44. The company reported a quarterly loss of $0.12 per share, beating estimates of a $0.14 loss, but remains unprofitable.

Bank of New York Mellon Corp purchased a new stake in shares of Altimmune, Inc. (NASDAQ:ALT - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 689,713 shares of the company's stock, valued at approximately $2,097,000. Bank of New York Mellon Corp owned 0.35% of Altimmune as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of ALT. Two Sigma Investments LP boosted its stake in Altimmune by 356.6% during the 3rd quarter. Two Sigma Investments LP now owns 1,996,848 shares of the company's stock valued at $7,528,000 after purchasing an additional 1,559,562 shares in the last quarter. State Street Corp grew its holdings in Altimmune by 42.2% during the fourth quarter. State Street Corp now owns 5,119,703 shares of the company's stock worth $18,482,000 after acquiring an additional 1,518,448 shares during the period. Vanguard Group Inc. grew its holdings in Altimmune by 23.3% during the third quarter. Vanguard Group Inc. now owns 6,373,638 shares of the company's stock worth $24,029,000 after acquiring an additional 1,206,514 shares during the period. Nuveen LLC raised its position in Altimmune by 514.9% in the fourth quarter. Nuveen LLC now owns 1,244,211 shares of the company's stock worth $4,492,000 after acquiring an additional 1,041,856 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in Altimmune in the fourth quarter worth about $3,331,000. 78.05% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on ALT. Citizens Jmp reduced their price objective on shares of Altimmune from $14.00 to $11.00 and set a "market outperform" rating for the company in a research report on Thursday, May 14th. Leerink Partners started coverage on shares of Altimmune in a report on Monday, June 22nd. They issued an "outperform" rating and a $10.00 target price on the stock. HC Wainwright reissued a "buy" rating on shares of Altimmune in a research note on Tuesday, July 28th. Weiss Ratings restated a "sell (d-)" rating on shares of Altimmune in a report on Wednesday, June 24th. Finally, Wall Street Zen upgraded shares of Altimmune from a "strong sell" rating to a "sell" rating in a research report on Saturday, June 27th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $14.33.

Altimmune Stock Performance

Shares of ALT opened at $3.42 on Tuesday. The company has a 50-day moving average of $3.03 and a two-hundred day moving average of $3.17. The stock has a market cap of $665.26 million, a price-to-earnings ratio of -4.38 and a beta of 0.18. The company has a debt-to-equity ratio of 0.07, a current ratio of 26.78 and a quick ratio of 26.78. Altimmune, Inc. has a one year low of $2.56 and a one year high of $6.44.

Altimmune (NASDAQ:ALT - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.14) by $0.02. Altimmune had a negative net margin of 214,860.98% and a negative return on equity of 31.41%. On average, equities research analysts expect that Altimmune, Inc. will post -0.58 earnings per share for the current year.

Altimmune Profile

Altimmune, Inc is a clinical-stage biopharmaceutical company headquartered in Gaithersburg, Maryland, dedicated to the development of vaccines and immunotherapeutics. The company leverages proprietary technology platforms to create intranasal vaccine candidates and novel therapies targeting liver diseases and metabolic disorders. Altimmune's approach emphasizes the stimulation of both systemic and mucosal immune responses to address unmet medical needs in infectious and chronic conditions.

Among its lead programs, NasoVAX is an investigational intranasal influenza vaccine designed to provide broad, long-lasting protection through a single, non-invasive dose.

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