Altimmune (NASDAQ:ALT) Shares Gap Down to $20.38

Shares of Altimmune, Inc. (NASDAQ:ALTGet Rating) gapped down prior to trading on Wednesday . The stock had previously closed at $20.38, but opened at $15.50. Altimmune shares last traded at $13.03, with a volume of 443,158 shares.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. JMP Securities reissued a “buy” rating and issued a $22.00 target price on shares of Altimmune in a research report on Wednesday, June 1st. B. Riley boosted their price objective on shares of Altimmune from $21.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, August 12th. Jefferies Financial Group boosted their price objective on shares of Altimmune from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, August 31st. Finally, HC Wainwright boosted their price objective on shares of Altimmune from $25.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, August 17th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Altimmune presently has an average rating of “Buy” and an average price target of $30.83.

Altimmune Stock Performance

The stock has a market capitalization of $705.47 million, a price-to-earnings ratio of -6.42 and a beta of 0.19. The company’s 50 day moving average is $15.58 and its 200 day moving average is $9.74.

Altimmune (NASDAQ:ALTGet Rating) last released its earnings results on Thursday, August 11th. The company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.03. The firm had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $1.74 million. Altimmune had a negative net margin of 2,788.75% and a negative return on equity of 47.54%. During the same period in the prior year, the company earned ($0.40) EPS. On average, equities research analysts anticipate that Altimmune, Inc. will post -1.86 earnings per share for the current fiscal year.

Insider Activity at Altimmune

In related news, CEO Vipin K. Garg sold 15,000 shares of the company’s stock in a transaction on Friday, August 12th. The shares were sold at an average price of $15.06, for a total transaction of $225,900.00. Following the completion of the transaction, the chief executive officer now directly owns 259,804 shares in the company, valued at approximately $3,912,648.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Diane Jorkasky sold 17,610 shares of the stock in a transaction on Monday, June 27th. The shares were sold at an average price of $11.75, for a total value of $206,917.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vipin K. Garg sold 15,000 shares of the stock in a transaction on Friday, August 12th. The shares were sold at an average price of $15.06, for a total transaction of $225,900.00. Following the completion of the transaction, the chief executive officer now owns 259,804 shares of the company’s stock, valued at approximately $3,912,648.24. The disclosure for this sale can be found here. Insiders sold a total of 112,588 shares of company stock worth $1,392,554 in the last ninety days. 3.19% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Altimmune

A number of hedge funds have recently made changes to their positions in ALT. Nuveen Asset Management LLC grew its holdings in shares of Altimmune by 184.9% in the 4th quarter. Nuveen Asset Management LLC now owns 2,295,832 shares of the company’s stock worth $19,400,000 after purchasing an additional 1,490,012 shares during the last quarter. Citigroup Inc. grew its holdings in shares of Altimmune by 877.8% in the 4th quarter. Citigroup Inc. now owns 1,066,395 shares of the company’s stock worth $9,768,000 after purchasing an additional 957,330 shares during the last quarter. Driehaus Capital Management LLC bought a new stake in shares of Altimmune in the 2nd quarter worth about $10,999,000. Laurion Capital Management LP bought a new stake in shares of Altimmune in the 2nd quarter worth about $8,938,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Altimmune in the 2nd quarter worth about $7,126,000. Institutional investors and hedge funds own 81.03% of the company’s stock.

Altimmune Company Profile

(Get Rating)

Altimmune, Inc, a clinical stage biopharmaceutical company, focuses on developing treatments for obesity and liver diseases. The company's lead product candidate, pemvidutide (proposed INN, formerly known as ALT-801), is a GLP-1/glucagon dual receptor agonist that is in Phase 1b trial for the treatment of obesity and non-alcoholic steatohepatitis.

Featured Stories

Receive News & Ratings for Altimmune Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altimmune and related companies with MarketBeat.com's FREE daily email newsletter.