Altimmune (NASDAQ:ALT) Trading Up 7% – Time to Buy?

Altimmune, Inc. (NASDAQ:ALT) was up 7% on Wednesday . The company traded as high as $3.25 and last traded at $3.3050. Approximately 672,482 shares traded hands during trading, a decline of 84% from the average daily volume of 4,310,293 shares. The stock had previously closed at $3.09.

Wall Street Analysts Forecast Growth

Several research firms have commented on ALT. Citizens Jmp dropped their target price on Altimmune from $14.00 to $11.00 and set a “market outperform” rating for the company in a research report on Thursday, May 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Altimmune in a research report on Wednesday, June 24th. Wall Street Zen raised shares of Altimmune from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 27th. Leerink Partners assumed coverage on Altimmune in a research note on Monday, June 22nd. They set an “outperform” rating and a $10.00 price target on the stock. Finally, Citigroup reiterated a “market outperform” rating on shares of Altimmune in a report on Tuesday, June 2nd. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $14.33.

Altimmune Price Performance

The business’s 50-day simple moving average is $3.00 and its 200-day simple moving average is $3.21. The stock has a market cap of $631.21 million, a PE ratio of -4.16 and a beta of 0.18. The company has a quick ratio of 26.78, a current ratio of 26.78 and a debt-to-equity ratio of 0.07.

Altimmune (NASDAQ:ALT) last posted its earnings results on Tuesday, August 11th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.02. Altimmune had a negative net margin of 214,860.98% and a negative return on equity of 31.41%. On average, research analysts expect that Altimmune, Inc. will post -0.58 EPS for the current fiscal year.

Institutional Trading of Altimmune

Institutional investors and hedge funds have recently modified their holdings of the business. Two Sigma Investments LP raised its stake in Altimmune by 356.6% during the 3rd quarter. Two Sigma Investments LP now owns 1,996,848 shares of the company’s stock valued at $7,528,000 after buying an additional 1,559,562 shares during the last quarter. State Street Corp lifted its position in shares of Altimmune by 42.2% during the 4th quarter. State Street Corp now owns 5,119,703 shares of the company’s stock valued at $18,482,000 after buying an additional 1,518,448 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Altimmune by 23.3% in the third quarter. Vanguard Group Inc. now owns 6,373,638 shares of the company’s stock worth $24,029,000 after purchasing an additional 1,206,514 shares during the period. Nuveen LLC boosted its holdings in Altimmune by 514.9% in the 4th quarter. Nuveen LLC now owns 1,244,211 shares of the company’s stock worth $4,492,000 after buying an additional 1,041,856 shares during the period. Finally, Marshall Wace LLP purchased a new stake in shares of Altimmune during the fourth quarter worth about $3,331,000. Institutional investors own 78.05% of the company’s stock.

Altimmune Company Profile

Altimmune, Inc is a clinical-stage biopharmaceutical company headquartered in Gaithersburg, Maryland, dedicated to the development of vaccines and immunotherapeutics. The company leverages proprietary technology platforms to create intranasal vaccine candidates and novel therapies targeting liver diseases and metabolic disorders. Altimmune’s approach emphasizes the stimulation of both systemic and mucosal immune responses to address unmet medical needs in infectious and chronic conditions.

Among its lead programs, NasoVAX is an investigational intranasal influenza vaccine designed to provide broad, long-lasting protection through a single, non-invasive dose.