Altimmune (NASDAQ:ALT) Trading Down 4.6% – Should You Sell?

Altimmune, Inc. (NASDAQ:ALT) shares were down 4.6% on Monday . The stock traded as low as $7.86 and last traded at $7.87. Approximately 989,264 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 3,823,179 shares. The stock had previously closed at $8.25.

Wall Street Analyst Weigh In

ALT has been the topic of several research reports. UBS Group began coverage on shares of Altimmune in a report on Tuesday, November 12th. They set a “buy” rating and a $26.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 target price on shares of Altimmune in a research report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

Altimmune Price Performance

The business’s fifty day moving average price is $7.97 and its 200-day moving average price is $7.11. The stock has a market capitalization of $536.99 million, a price-to-earnings ratio of -4.87 and a beta of 0.15.

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

Institutional Investors Weigh In On Altimmune

A number of institutional investors and hedge funds have recently bought and sold shares of ALT. Dimensional Fund Advisors LP boosted its holdings in Altimmune by 142.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 570,174 shares of the company’s stock worth $3,791,000 after acquiring an additional 335,444 shares during the last quarter. Bellevue Group AG grew its position in Altimmune by 43.9% in the 3rd quarter. Bellevue Group AG now owns 863,660 shares of the company’s stock worth $5,303,000 after purchasing an additional 263,660 shares in the last quarter. Virtu Financial LLC purchased a new stake in Altimmune in the 3rd quarter valued at about $674,000. Los Angeles Capital Management LLC bought a new position in shares of Altimmune during the 2nd quarter worth approximately $689,000. Finally, Exchange Traded Concepts LLC boosted its stake in shares of Altimmune by 74.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 216,761 shares of the company’s stock worth $1,331,000 after buying an additional 92,498 shares during the last quarter. 78.05% of the stock is owned by hedge funds and other institutional investors.

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.