Hsbc Holdings PLC Acquires Shares of 72,258 Altimmune, Inc. $ALT

Key Points

• Hsbc Holdings PLC acquired a new stake in Altimmune, Inc. consisting of 72,258 shares worth approximately $349,000, representing about 0.09% ownership as of the latest SEC filing.
• Altimmune reported an earnings per share (EPS) of ($0.27) for the last quarter, exceeding analysts' expectations of ($0.32) by $0.05.
• The stock has received varied ratings from analysts, with targets ranging from $12.00 to $24.00, and a consensus price target of $17.40, indicating a generally positive outlook.

Hsbc Holdings PLC bought a new position in shares of Altimmune, Inc. (NASDAQ:ALT - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 72,258 shares of the company's stock, valued at approximately $349,000. Hsbc Holdings PLC owned 0.09% of Altimmune as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC increased its position in shares of Altimmune by 214.2% during the first quarter. GAMMA Investing LLC now owns 6,745 shares of the company's stock worth $34,000 after acquiring an additional 4,598 shares during the period. Magnus Financial Group LLC purchased a new position in shares of Altimmune during the first quarter worth approximately $50,000. Headland Capital LLC bought a new position in shares of Altimmune during the first quarter valued at approximately $50,000. E Fund Management Co. Ltd. boosted its stake in shares of Altimmune by 20.3% during the first quarter. E Fund Management Co. Ltd. now owns 13,427 shares of the company's stock valued at $67,000 after purchasing an additional 2,268 shares in the last quarter. Finally, Sunbelt Securities Inc. boosted its stake in shares of Altimmune by 356.8% during the fourth quarter. Sunbelt Securities Inc. now owns 10,844 shares of the company's stock valued at $79,000 after purchasing an additional 8,470 shares in the last quarter. 78.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. William Blair reiterated a "market perform" rating on shares of Altimmune in a research note on Friday, June 27th. B. Riley dropped their price objective on shares of Altimmune from $20.00 to $18.00 and set a "buy" rating on the stock in a research note on Wednesday, August 13th. JMP Securities lowered their target price on shares of Altimmune from $25.00 to $15.00 and set a "market outperform" rating for the company in a research note on Thursday, July 10th. UBS Group lowered their target price on shares of Altimmune from $26.00 to $24.00 and set a "buy" rating for the company in a research note on Wednesday, August 13th. Finally, HC Wainwright restated a "buy" rating and issued a $12.00 target price on shares of Altimmune in a research note on Wednesday, August 13th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $17.40.

Altimmune Stock Performance

ALT traded up $0.05 on Tuesday, reaching $3.76. The stock had a trading volume of 249,665 shares, compared to its average volume of 3,670,714. Altimmune, Inc. has a 12-month low of $2.90 and a 12-month high of $11.16. The company has a current ratio of 20.44, a quick ratio of 20.44 and a debt-to-equity ratio of 0.09. The business's 50-day moving average price is $3.91 and its two-hundred day moving average price is $4.93. The company has a market cap of $331.42 million, a P/E ratio of -3.17 and a beta of 0.18.

Altimmune (NASDAQ:ALT - Get Free Report) last released its earnings results on Tuesday, August 12th. The company reported ($0.27) EPS for the quarter, topping analysts' consensus estimates of ($0.32) by $0.05. The business had revenue of $0.01 million during the quarter, compared to analysts' expectations of $0.00 million. Altimmune had a negative net margin of 438,730.03% and a negative return on equity of 62.63%. Sell-side analysts forecast that Altimmune, Inc. will post -1.35 earnings per share for the current year.

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.