Altimmune (NASDAQ:ALT) Shares Up 4.9% – Time to Buy?

Altimmune, Inc. (NASDAQ:ALT) shares were up 4.9% on Friday . The stock traded as high as $9.02 and last traded at $9.01. Approximately 1,826,223 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 3,833,614 shares. The stock had previously closed at $8.59.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. HC Wainwright reissued a “buy” rating and issued a $12.00 price objective on shares of Altimmune in a research report on Thursday, November 14th. UBS Group assumed coverage on Altimmune in a research note on Tuesday, November 12th. They issued a “buy” rating and a $26.00 price target for the company. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Altimmune presently has an average rating of “Moderate Buy” and an average price target of $20.00.

Altimmune Trading Up 5.1 %

The stock has a market capitalization of $642.26 million, a price-to-earnings ratio of -5.83 and a beta of 0.15. The firm has a 50-day moving average of $7.71 and a 200-day moving average of $7.06.

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

Institutional Trading of Altimmune

A number of hedge funds and other institutional investors have recently made changes to their positions in ALT. Larson Financial Group LLC purchased a new stake in Altimmune in the third quarter valued at $31,000. Horizon Wealth Management LLC purchased a new stake in shares of Altimmune in the second quarter worth about $66,000. PFG Investments LLC acquired a new stake in Altimmune during the second quarter worth about $67,000. Principal Financial Group Inc. purchased a new position in Altimmune during the second quarter valued at approximately $70,000. Finally, Verus Capital Partners LLC acquired a new position in Altimmune in the second quarter valued at approximately $82,000. Institutional investors and hedge funds own 78.05% of the company’s stock.

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.