Altimmune (NASDAQ:ALT) CEO Jerome Benedict Durso Purchases 30,700 Shares of Company Stock

Altimmune, Inc. (NASDAQ:ALT) CEO Jerome Durso acquired 30,700 shares of the business’s stock in a transaction that occurred on Friday, November 13th. The shares were acquired at an average cost of $1.62 per share, for a total transaction of $49,734.00. Following the transaction, the chief executive officer owned 93,200 shares of the company’s stock, valued at approximately $150,984. This represents a 49.12% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Altimmune Stock Up 2.2%

NASDAQ ALT traded up $0.04 during trading on Friday, reaching $1.65. The company’s stock had a trading volume of 3,528,857 shares, compared to its average volume of 3,885,901. 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 stock has a market capitalization of $319.99 million, a PE ratio of -2.28 and a beta of 0.16. The business has a 50-day moving average price of $2.58 and a 200-day moving average price of $3.15. Altimmune, Inc. has a 1-year low of $1.58 and a 1-year high of $6.44.

Altimmune (NASDAQ:ALT) last posted its earnings results on Thursday, November 12th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.02). On average, research analysts forecast that Altimmune, Inc. will post -0.58 earnings per share for the current fiscal year.

Top Altimmune Stories

Here are a few of the latest stories about ALT:

• 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
• Negative Sentiment: A Seeking Alpha analysis characterized pemvidutide’s development as late and capital-intensive, underscoring the risk that lengthy trials and spending could weigh on ALT before any potential product revenue. Analysis

Institutional Trading of Altimmune

Institutional investors and hedge funds have recently modified their holdings of the company. Nantahala Capital Management LLC grew its stake in Altimmune by 14.7% in the 3rd quarter. Nantahala Capital Management LLC now owns 1,720,000 shares of the company’s stock valued at $4,919,000 after buying an additional 220,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Altimmune by 268.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,045,926 shares of the company’s stock worth $3,221,000 after acquiring an additional 762,223 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Altimmune during the 2nd quarter worth $2,097,000. Bank of America Corp DE boosted its holdings in Altimmune by 48.6% during the first quarter. Bank of America Corp DE now owns 570,203 shares of the company’s stock valued at $1,756,000 after acquiring an additional 186,420 shares during the period. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in Altimmune by 156.5% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 518,198 shares of the company’s stock valued at $1,575,000 after acquiring an additional 316,209 shares during the period. 78.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ALT has been the topic of several analyst reports. Citigroup reissued a “market outperform” rating on shares of Altimmune in a research report on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Altimmune in a research report on Monday, September 21st. HC Wainwright reaffirmed a “buy” rating on shares of Altimmune in a research report on Tuesday, July 28th. Wall Street Zen downgraded Altimmune from a “sell” rating to a “strong sell” rating in a research note on Saturday. Finally, B. Riley Financial reiterated a “buy” rating on shares of Altimmune in a research note on Friday. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Altimmune presently has an average rating of “Moderate Buy” and a consensus target price of $14.33.

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.