Altimmune (NASDAQ:ALT) Shares Gap Up – Here’s What Happened

Altimmune, Inc. (NASDAQ:ALT) gapped up prior to trading on Wednesday . The stock had previously closed at $8.79, but opened at $9.41. Altimmune shares last traded at $10.05, with a volume of 1,733,321 shares.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ALT shares. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Altimmune in a research report on Thursday, November 14th. Evercore ISI raised Altimmune to a “strong-buy” rating in a research report on Friday, August 9th. B. Riley reissued a “buy” rating and issued a $20.00 price objective on shares of Altimmune in a report on Monday, August 12th. Finally, UBS Group started coverage on shares of Altimmune in a research report on Tuesday, November 12th. They issued a “buy” rating and a $26.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

Altimmune Stock Up 13.3 %

The business’s 50-day moving average price is $7.28 and its 200 day moving average price is $6.97. The company has a market capitalization of $708.36 million, a P/E ratio of -6.86 and a beta of 0.15.

Altimmune (NASDAQ:ALT) last issued 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. Altimmune had a negative return on equity of 55.81% and a negative net margin of 199,076.92%. The firm had revenue of $0.01 million during the quarter. During the same quarter last year, the business posted ($0.39) EPS. Analysts anticipate that Altimmune, Inc. will post -1.36 EPS for the current fiscal year.

Institutional Trading of Altimmune

Hedge funds have recently bought and sold shares of the company. Larson Financial Group LLC purchased a new position in shares of Altimmune during the third quarter worth approximately $31,000. CANADA LIFE ASSURANCE Co purchased a new position in Altimmune in the 1st quarter worth $44,000. Horizon Wealth Management LLC bought a new stake in Altimmune in the second quarter worth $66,000. PFG Investments LLC purchased a new stake in Altimmune during the second quarter valued at about $67,000. Finally, Principal Financial Group Inc. bought a new position in shares of Altimmune during the second quarter valued at about $70,000. Institutional investors 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.