Insider Buying: Altimmune (NASDAQ:ALT) Director Purchases 10,000 Shares of Stock

Key Points

• Altimmune director Wayne Pisano bought 10,000 shares at an average price of $1.64, spending $16,400 and increasing his holdings by 20.49% to 58,800 shares.
• The company reported a third-quarter loss of $0.15 per share, missing analyst expectations of a $0.13 loss; analysts forecast a full-year loss of $0.58 per share.
• Analyst views are mostly positive: eight rate the stock Buy, one Hold and one Sell, for a consensus “Moderate Buy” rating and a $14.33 price target. Altimmune also reported $480 million in cash and investments, with runway projected through 2029.

Altimmune, Inc. (NASDAQ:ALT - Get Free Report) Director Wayne Pisano purchased 10,000 shares of the business's stock in a transaction dated Friday, November 13th. The stock was bought at an average cost of $1.64 per share, with a total value of $16,400.00. Following the completion of the acquisition, the director owned 58,800 shares of the company's stock, valued at approximately $96,432. The trade was a 20.49% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Altimmune Price Performance

Shares of ALT traded up $0.04 during trading hours on Friday, reaching $1.66. 3,501,696 shares of the company traded hands, compared to its average volume of 4,245,085. The company has a quick ratio of 26.78, a current ratio of 26.78 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $321.93 million, a PE ratio of -2.12 and a beta of 0.16. Altimmune, Inc. has a fifty-two week low of $1.58 and a fifty-two week high of $6.44. The stock has a fifty day simple moving average of $2.62 and a 200 day simple moving average of $3.17.

Altimmune (NASDAQ:ALT - Get Free Report) last posted its quarterly earnings data on Thursday, November 12th. The company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.02). As a group, research analysts predict that Altimmune, Inc. will post -0.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ALT. HC Wainwright reiterated a "buy" rating on shares of Altimmune in a report on Tuesday, July 28th. Citigroup reaffirmed a "market outperform" rating on shares of Altimmune in a research note on Friday. B. Riley Financial reiterated a "buy" rating on shares of Altimmune in a report on Friday. Weiss Ratings reissued a "sell (d-)" rating on shares of Altimmune in a research note on Monday, September 21st. Finally, Evercore restated an "outperform" rating on shares of Altimmune in a report on Wednesday, September 23rd. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $14.33.

Latest Altimmune News

Here's some of the latest news about ALT:

• Positive Sentiment: Altimmune reported $480 million in cash, cash equivalents and investments at September 30, with a stated runway through the PERFORMA readout and into 2029—an important buffer for its clinical programs. Article
• Positive Sentiment: B. Riley reaffirmed its “buy” rating, signaling continued analyst support. Article
• Negative Sentiment: Third-quarter loss per share was $0.15, wider than the $0.13 consensus estimate. Higher research and development costs are pressuring results, and investors remain focused on the capital required to advance the pipeline despite the reported cash runway. Article

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Parallel Advisors LLC increased its position in Altimmune by 21,755.0% during the third quarter. Parallel Advisors LLC now owns 8,742 shares of the company's stock worth $25,000 after purchasing an additional 8,702 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Altimmune in the 3rd quarter valued at $28,000. IPG Investment Advisors LLC acquired a new position in shares of Altimmune in the 3rd quarter valued at $29,000. Quantinno Capital Management LP purchased a new stake in shares of Altimmune during the 1st quarter valued at $33,000. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in shares of Altimmune during the 3rd quarter valued at $36,000. 78.05% of the stock is currently owned by hedge funds and other institutional investors.

Altimmune Company Profile

Altimmune, Inc. is a clinical-stage biopharmaceutical company developing peptide-based treatments for obesity and liver diseases. The company is headquartered in Gaithersburg, Maryland. Its lead candidate, pemvidutide, is an investigational medicine that activates GLP-1 and glucagon receptors. Altimmune has studied the drug for obesity and metabolic dysfunction-associated steatohepatitis (MASH), a serious form of fatty liver disease. Altimmune's work focuses on advancing treatments through clinical development; pemvidutide is not an approved medicine.

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