UBS Group Has Lowered Expectations for Altimmune (NASDAQ:ALT) Stock Price

Key Points

• UBS Group has lowered its price target for Altimmune's stock from $26.00 to $24.00, while still maintaining a "buy" rating on the stock.
• Altimmune's current consensus rating is categorized as a "Moderate Buy" with a target price of $17.40, despite a range of analyst ratings including some "strong sell" recommendations.
• The company's stock traded at $3.87, marking a 6.8% increase during recent trading, with significant interest from institutional investors, owning 78.05% of shares.

Altimmune (NASDAQ:ALT - Get Free Report) had its price objective dropped by equities research analysts at UBS Group from $26.00 to $24.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock.

Other analysts have also issued research reports about the company. HC Wainwright restated a "buy" rating and issued a $12.00 target price on shares of Altimmune in a report on Friday, June 27th. William Blair reaffirmed a "market perform" rating on shares of Altimmune in a research report on Friday, June 27th. B. Riley lowered their price target on Altimmune from $20.00 to $18.00 and set a "buy" rating on the stock in a research report on Wednesday. The Goldman Sachs Group raised Altimmune to a "strong sell" rating in a research report on Thursday, July 10th. Finally, Wall Street Zen raised Altimmune from a "sell" rating to a "hold" rating in a research report on Saturday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Altimmune currently has a consensus rating of "Moderate Buy" and a consensus target price of $17.40.

Altimmune Stock Up 6.8%

ALT stock traded up $0.25 during trading on Wednesday, reaching $3.87. 2,455,627 shares of the company's stock were exchanged, compared to its average volume of 3,780,556. Altimmune has a 1-year low of $2.90 and a 1-year high of $11.16. The company's fifty day moving average price is $4.86 and its 200-day moving average price is $5.34. The firm has a market cap of $313.49 million, a PE ratio of -3.07 and a beta of -0.01.

Altimmune (NASDAQ:ALT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.32) by $0.05. The firm had revenue of $0.01 million during the quarter, compared to analyst estimates of $0.00 million. Altimmune had a negative return on equity of 65.44% and a negative net margin of 451,200.00%. As a group, sell-side analysts expect that Altimmune will post -1.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ALT. GAMMA Investing LLC boosted its position in shares of Altimmune by 214.2% during the 1st quarter. GAMMA Investing LLC now owns 6,745 shares of the company's stock worth $34,000 after acquiring an additional 4,598 shares in the last quarter. Virtus ETF Advisers LLC acquired a new stake in shares of Altimmune during the 4th quarter worth approximately $60,000. Magnus Financial Group LLC acquired a new stake in shares of Altimmune during the 1st quarter worth approximately $50,000. Geneos Wealth Management Inc. acquired a new stake in shares of Altimmune during the 1st quarter worth approximately $50,000. Finally, Headland Capital LLC acquired a new stake in shares of Altimmune during the 1st quarter worth approximately $50,000. 78.05% of the stock is owned by institutional investors.

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.

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