Altimmune (NASDAQ:ALT) Lowered to Neutral at Guggenheim

Guggenheim downgraded shares of Altimmune (NASDAQ:ALT) from a buy rating to a neutral rating in a research note issued to investors on Monday, MarketBeat Ratings reports.

Other equities analysts have also issued reports about the company. The Goldman Sachs Group assumed coverage on Altimmune in a research note on Wednesday, January 24th. They issued a neutral rating and a $13.00 price target on the stock. HC Wainwright dropped their price target on Altimmune from $15.00 to $12.00 and set a buy rating on the stock in a research note on Monday, April 1st. Finally, B. Riley reissued a buy rating and issued a $20.00 price target on shares of Altimmune in a research note on Thursday, March 28th.

Altimmune Price Performance

Shares of ALT stock opened at $7.07 on Monday. The business’s 50 day simple moving average is $9.20 and its 200 day simple moving average is $7.64. Altimmune has a one year low of $2.09 and a one year high of $14.84. The stock has a market capitalization of $501.19 million, a PE ratio of -4.28 and a beta of 0.05.

Altimmune (NASDAQ:ALT) last issued its quarterly earnings results on Wednesday, March 27th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.02. Altimmune had a negative return on equity of 44.77% and a negative net margin of 20,780.75%. The firm had revenue of $0.04 million for the quarter. As a group, research analysts expect that Altimmune will post -1.52 earnings per share for the current year.

Hedge Funds Weigh In On Altimmune

Institutional investors have recently modified their holdings of the company. North Star Investment Management Corp. acquired a new position in shares of Altimmune during the first quarter worth approximately $31,000. FNY Investment Advisers LLC acquired a new position in shares of Altimmune during the fourth quarter worth approximately $35,000. Russell Investments Group Ltd. raised its position in shares of Altimmune by 1,150.9% during the fourth quarter. Russell Investments Group Ltd. now owns 4,303 shares of the company’s stock worth $48,000 after purchasing an additional 3,959 shares during the period. Horizon Wealth Management LLC acquired a new position in shares of Altimmune during the fourth quarter worth approximately $112,000. Finally, Deuterium Capital Management LLC acquired a new position in shares of Altimmune during the fourth quarter worth approximately $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.