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

Altimmune, Inc. (NASDAQ:ALT)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $7.31, but opened at $7.54. Altimmune shares last traded at $7.42, with a volume of 484,517 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. UBS Group started coverage on Altimmune in a research report on Tuesday, November 12th. They issued a “buy” rating and a $26.00 price target for the company. Stifel Nicolaus initiated coverage on shares of Altimmune in a report on Wednesday. They issued a “buy” rating and a $18.00 target price for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $12.00 price objective on shares of Altimmune in a research report on Thursday, November 14th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Altimmune presently has an average rating of “Moderate Buy” and a consensus price target of $19.71.

Altimmune Trading Down 8.3 %

The firm has a market cap of $485.78 million, a PE ratio of -4.41 and a beta of 0.22. The business’s 50-day simple moving average is $8.10 and its 200 day simple moving average is $7.20.

Altimmune (NASDAQ:ALT) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate 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 period in the previous year, the firm posted ($0.39) earnings per share. Analysts expect that Altimmune, Inc. will post -1.36 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Larson Financial Group LLC acquired a new position in shares of Altimmune in the 3rd quarter valued at about $31,000. PFG Investments LLC purchased a new stake in Altimmune in the 2nd quarter worth approximately $67,000. Principal Financial Group Inc. acquired a new stake in shares of Altimmune during the 2nd quarter worth approximately $70,000. XTX Topco Ltd purchased a new position in shares of Altimmune during the 2nd quarter valued at approximately $96,000. Finally, DRW Securities LLC acquired a new position in shares of Altimmune in the 2nd quarter valued at $112,000. 78.05% of the stock is owned by institutional investors and hedge funds.

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.