Altimmune (NASDAQ:ALT) Stock Keeps Buy Rating at B. Riley Financial

B. Riley Financial restated their buy rating on shares of Altimmune (NASDAQ:ALT) in a report published on Friday,Benzinga reports.

A number of other brokerages have also recently commented on ALT. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Altimmune in a research report on Monday, September 21st. HC Wainwright reissued a “buy” rating on shares of Altimmune in a report on Tuesday, July 28th. Finally, Evercore restated an “outperform” rating on shares of Altimmune in a research note on Wednesday, September 23rd. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Altimmune presently has an average rating of “Moderate Buy” and a consensus price target of $14.33.

Altimmune Price Performance

Altimmune stock opened at $1.65 on Friday. Altimmune has a 12 month low of $1.58 and a 12 month high of $6.44. The company has a current ratio of 26.78, a quick ratio of 26.78 and a debt-to-equity ratio of 0.07. The business’s 50 day simple moving average is $2.58 and its 200 day simple moving average is $3.15. The company has a market cap of $319.99 million, a price-to-earnings ratio of -2.28 and a beta of 0.16.

Altimmune (NASDAQ:ALT) last announced its quarterly earnings data on Thursday, November 12th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.02). Sell-side analysts forecast that Altimmune will post -0.58 EPS for the current year.

Insider Buying and Selling

In other Altimmune news, CEO Jerome Durso acquired 30,700 shares of the business’s stock in a transaction that occurred on Friday, November 13th. The stock was bought at an average cost of $1.62 per share, with a total value of $49,734.00. Following the acquisition, the chief executive officer owned 93,200 shares in the company, valued at approximately $150,984. This represents a 49.12% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have purchased 50,700 shares of company stock valued at $82,334. 1.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Altimmune

Hedge funds and other institutional investors have recently bought and sold shares of the business. Nantahala Capital Management LLC boosted its holdings in shares of Altimmune by 14.7% in the third quarter. Nantahala Capital Management LLC now owns 1,720,000 shares of the company’s stock worth $4,919,000 after acquiring an additional 220,000 shares during the period. R Squared Ltd grew its position in shares of Altimmune by 99.6% in the third quarter. R Squared Ltd now owns 26,475 shares of the company’s stock valued at $76,000 after purchasing an additional 13,211 shares in the last quarter. StoneX Group Inc. purchased a new position in shares of Altimmune in the third quarter valued at $46,000. Parallel Advisors LLC raised its stake in shares of Altimmune by 21,755.0% during the 3rd quarter. Parallel Advisors LLC now owns 8,742 shares of the company’s stock valued at $25,000 after purchasing an additional 8,702 shares during the period. Finally, Alps Advisors Inc. raised its stake in shares of Altimmune by 29.6% during the 3rd quarter. Alps Advisors Inc. now owns 255,875 shares of the company’s stock valued at $732,000 after purchasing an additional 58,501 shares during the period. Institutional investors own 78.05% of the company’s stock.

Altimmune News Summary

Investors following ALT have been watching these news items:

• Positive Sentiment: Newly published 48-week Phase 2b IMPACT results showed pemvidutide improved non-invasive measures of liver fat, inflammation, and fibrosis, alongside weight loss and generally favorable tolerability. The findings support the ongoing Phase 3 PERFORMA MASH trial, though pemvidutide remains investigational. Trial results article
• Positive Sentiment: Altimmune reported $480 million in cash, equivalents, and investments at September 30, with a projected runway through 2029. Management also said the Phase 3 MASH program is progressing as planned and scheduled an FDA meeting on its alcohol-use-disorder program for December. Quarterly update
• Negative Sentiment: Third-quarter loss per share was $0.15, wider than the $0.13 loss analysts expected. Higher research and development spending contributed to the miss, and commentary has raised concerns about the company’s capital needs despite its current cash runway. Earnings analysis

Altimmune Company Profile

Altimmune, Inc. is a clinical-stage biopharmaceutical company developing peptide-based treatments for obesity and liver diseases. The company is headquartered in Gaithersburg, Maryland. Its lead candidate, pemvidutide, is an investigational medicine that activates GLP-1 and glucagon receptors. Altimmune has studied the drug for obesity and metabolic dysfunction-associated steatohepatitis (MASH), a serious form of fatty liver disease. Altimmune’s work focuses on advancing treatments through clinical development; pemvidutide is not an approved medicine.