Federated Hermes Inc. Takes Position in Altimmune, Inc. (NASDAQ:ALT)

Key Points

• Federated Hermes Inc. made a significant investment of $939,000 in Altimmune, Inc., acquiring 187,727 shares during the first quarter, which amounts to roughly 0.24% ownership of the company.
• Altimmune recently reported earnings of ($0.26) EPS for the quarter, outperforming analyst expectations, and is projected to post -1.35 EPS for the current year.
• Brokerages have mixed views on Altimmune, with ratings ranging from strong sell to buy, and an average price target of $18.20.

Federated Hermes Inc. bought a new position in Altimmune, Inc. (NASDAQ:ALT - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 187,727 shares of the company's stock, valued at approximately $939,000. Federated Hermes Inc. owned approximately 0.24% of Altimmune at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in 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 purchasing an additional 4,598 shares during the last quarter. Magnus Financial Group LLC purchased a new stake in shares of Altimmune during the first quarter valued at $50,000. Virtus ETF Advisers LLC bought a new stake in Altimmune in the 4th quarter worth about $60,000. Sunbelt Securities Inc. raised its position in Altimmune by 356.8% in the 4th quarter. Sunbelt Securities Inc. now owns 10,844 shares of the company's stock worth $79,000 after buying an additional 8,470 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in Altimmune in the 4th quarter worth about $81,000. 78.05% of the stock is owned by hedge funds and other institutional investors.

Altimmune Stock Performance

Altimmune stock traded down $0.07 during mid-day trading on Friday, hitting $3.45. The company's stock had a trading volume of 2,305,019 shares, compared to its average volume of 3,786,149. The company has a 50 day moving average of $4.98 and a 200-day moving average of $5.42. Altimmune, Inc. has a one year low of $2.90 and a one year high of $11.16. The stock has a market cap of $279.83 million, a PE ratio of -2.74 and a beta of -0.01.

Altimmune (NASDAQ:ALT - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($0.26) EPS 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 firm had revenue of $0.01 million for the quarter, compared to analysts' expectations of $0.00 million. During the same period in the prior year, the business posted ($0.34) earnings per share. On average, equities research analysts forecast that Altimmune, Inc. will post -1.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. William Blair restated a "market perform" rating on shares of Altimmune in a report on Friday, June 27th. HC Wainwright reiterated a "buy" rating and issued a $12.00 price target on shares of Altimmune in a research note on Friday, June 27th. Wall Street Zen lowered shares of Altimmune from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. The Goldman Sachs Group raised shares of Altimmune to a "strong sell" rating in a report on Thursday, July 10th. Finally, JMP Securities reduced their price objective on Altimmune from $25.00 to $15.00 and set a "market outperform" rating on the stock in a research note on Thursday, July 10th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Altimmune currently has a consensus rating of "Moderate Buy" and an average price target of $18.20.

Altimmune Company 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.