Altimmune (NASDAQ:ALT) Stock Price Down 5.4% – What’s Next?

Shares of Altimmune, Inc. (NASDAQ:ALT) dropped 5.4% during mid-day trading on Monday . The company traded as low as $7.13 and last traded at $7.20. Approximately 623,008 shares traded hands during trading, a decline of 84% from the average daily volume of 3,857,509 shares. The stock had previously closed at $7.61.

Analyst Ratings Changes

A number of brokerages recently commented on ALT. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 target price on shares of Altimmune in a research report on Thursday. B. Riley reaffirmed a “buy” rating and set a $20.00 target price on shares of Altimmune in a research report on Monday, August 12th. Evercore ISI upgraded shares of Altimmune to a “strong-buy” rating in a research note on Friday, August 9th. Finally, UBS Group initiated coverage on shares of Altimmune in a research note on Tuesday, November 12th. They issued a “buy” rating and a $26.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Altimmune has an average rating of “Moderate Buy” and an average price target of $20.00.

Altimmune Stock Performance

The company’s 50 day moving average price is $7.02 and its 200-day moving average price is $6.91. The stock has a market cap of $494.28 million, a P/E ratio of -4.48 and a beta of 0.09.

Altimmune (NASDAQ:ALT) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.03. Altimmune had a negative net margin of 199,076.92% and a negative return on equity of 55.81%. The business had revenue of $0.01 million during the quarter. During the same period in the previous year, the company posted ($0.39) earnings per share. On average, analysts forecast that Altimmune, Inc. will post -1.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ALT. Larson Financial Group LLC bought a new stake in shares of Altimmune during the 3rd quarter worth $31,000. CANADA LIFE ASSURANCE Co purchased a new stake in shares of Altimmune during the 1st quarter worth approximately $44,000. TFO Wealth Partners LLC bought a new stake in shares of Altimmune in the 1st quarter worth approximately $51,000. Horizon Wealth Management LLC purchased a new position in Altimmune in the second quarter valued at approximately $66,000. Finally, PFG Investments LLC bought a new position in Altimmune during the second quarter valued at $67,000. Hedge funds and other institutional investors own 78.05% of the company’s stock.

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.