Altimmune (NASDAQ:ALT) Stock Price Up 11.6% – Time to Buy?

Altimmune, Inc. (NASDAQ:ALT) was up 11.6% during trading on Wednesday . The stock traded as high as $3.13 and last traded at $3.3940. 666,507 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 4,309,428 shares. The stock had previously closed at $3.04.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ALT shares. Citigroup reaffirmed a “market outperform” rating on shares of Altimmune in a report on Tuesday, June 2nd. B. Riley Financial decreased their price objective on Altimmune from $18.00 to $13.00 and set a “buy” rating for the company in a report on Friday, March 6th. Wall Street Zen raised Altimmune from a “strong sell” rating to a “sell” rating in a research note on Saturday. William Blair reaffirmed a “market perform” rating on shares of Altimmune in a research note on Thursday, March 5th. Finally, Truist Financial initiated coverage on Altimmune in a research report on Wednesday, March 18th. They set a “buy” rating and a $12.00 price target for the company. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.71.

Altimmune Stock Performance

The stock has a market cap of $627.36 million, a P/E ratio of -3.48 and a beta of 0.21. The company has a fifty day moving average of $2.90 and a 200 day moving average of $3.70. The company has a debt-to-equity ratio of 0.12, a current ratio of 29.56 and a quick ratio of 29.56.

Altimmune (NASDAQ:ALT) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.07. Altimmune had a negative net margin of 214,860.98% and a negative return on equity of 42.57%. On average, equities analysts predict that Altimmune, Inc. will post -0.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Altimmune

Hedge funds have recently modified their holdings of the stock. SBI Securities Co. Ltd. increased its position in Altimmune by 27.9% during the fourth quarter. SBI Securities Co. Ltd. now owns 8,837 shares of the company’s stock worth $32,000 after buying an additional 1,928 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Altimmune by 4.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,901 shares of the company’s stock worth $247,000 after buying an additional 2,241 shares during the last quarter. Concurrent Investment Advisors LLC raised its stake in Altimmune by 10.4% during the 4th quarter. Concurrent Investment Advisors LLC now owns 26,508 shares of the company’s stock valued at $96,000 after purchasing an additional 2,500 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Altimmune by 10.9% in the second quarter. The Manufacturers Life Insurance Company now owns 27,945 shares of the company’s stock valued at $108,000 after buying an additional 2,748 shares during the period. Finally, Deutsche Bank AG grew its holdings in shares of Altimmune by 4.0% during the 4th quarter. Deutsche Bank AG now owns 79,940 shares of the company’s stock worth $289,000 after purchasing an additional 3,047 shares in the last quarter. 78.05% of the stock is owned by institutional investors and hedge funds.

About Altimmune

Altimmune, Inc is a clinical-stage biopharmaceutical company headquartered in Gaithersburg, Maryland, dedicated to the development of vaccines and immunotherapeutics. The company leverages proprietary technology platforms to create intranasal vaccine candidates and novel therapies targeting liver diseases and metabolic disorders. Altimmune’s approach emphasizes the stimulation of both systemic and mucosal immune responses to address unmet medical needs in infectious and chronic conditions.

Among its lead programs, NasoVAX is an investigational intranasal influenza vaccine designed to provide broad, long-lasting protection through a single, non-invasive dose.