Altimmune (NASDAQ:ALT) Stock Price Down 4.7% on Analyst Downgrade

Altimmune, Inc. (NASDAQ:ALT - Get Free Report)'s stock price dropped 4.7% during trading on Friday after JMP Securities lowered their price target on the stock from $25.00 to $24.00. JMP Securities currently has a market outperform rating on the stock. Altimmune traded as low as $7.35 and last traded at $7.36. Approximately 505,514 shares changed hands during trading, a decline of 90% from the average daily volume of 5,056,193 shares. The stock had previously closed at $7.72.

Other research analysts also recently issued research reports about the company. Guggenheim downgraded Altimmune from a "buy" rating to a "neutral" rating in a report on Monday, April 29th. B. Riley reissued a "buy" rating and issued a $20.00 target price on shares of Altimmune in a research note on Thursday, March 28th. The Goldman Sachs Group began coverage on shares of Altimmune in a research report on Wednesday, January 24th. They set a "neutral" rating and a $13.00 price objective on the stock. Finally, HC Wainwright lowered their price objective on Altimmune from $15.00 to $12.00 and set a "buy" rating on the stock in a research report on Monday, April 1st. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.25.

Hedge Funds Weigh In On Altimmune

A number of large investors have recently added to or reduced their stakes in ALT. Barclays PLC raised its holdings in shares of Altimmune by 62.0% in the 3rd quarter. Barclays PLC now owns 180,409 shares of the company's stock valued at $470,000 after buying an additional 69,014 shares during the period. Timelo Investment Management Inc. lifted its position in Altimmune by 2,597.0% in the fourth quarter. Timelo Investment Management Inc. now owns 809,095 shares of the company's stock valued at $9,102,000 after acquiring an additional 779,095 shares during the last quarter. GSA Capital Partners LLP grew its stake in Altimmune by 153.1% during the 3rd quarter. GSA Capital Partners LLP now owns 445,868 shares of the company's stock worth $1,159,000 after buying an additional 269,676 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in Altimmune in the 4th quarter valued at $534,000. Finally, Dark Forest Capital Management LP increased its position in Altimmune by 13.4% in the 3rd quarter. Dark Forest Capital Management LP now owns 230,353 shares of the company's stock valued at $599,000 after acquiring an additional 27,210 shares during the period. 78.05% of the stock is currently owned by institutional investors and hedge funds.

Altimmune Stock Performance

The business has a 50-day simple moving average of $8.69 and a two-hundred day simple moving average of $7.80. The company has a market capitalization of $511.86 million, a price-to-earnings ratio of -4.38 and a beta of 0.22.

Altimmune (NASDAQ:ALT - Get Free Report) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.36) by $0.02. Altimmune had a negative net margin of 20,780.75% and a negative return on equity of 44.77%. The business had revenue of $0.01 million for the quarter. During the same quarter last year, the firm earned ($0.40) earnings per share. Research analysts predict that Altimmune, Inc. will post -1.52 EPS for the current fiscal year.

About Altimmune

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.

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