Altimmune (NASDAQ:ALT) Stock Price Down 5.3%

Altimmune, Inc. (NASDAQ:ALT) dropped 5.3% on Wednesday . The stock traded as low as $7.15 and last traded at $7.17. Approximately 696,318 shares were traded during trading, a decline of 87% from the average daily volume of 5,372,216 shares. The stock had previously closed at $7.57.

Analyst Upgrades and Downgrades

ALT has been the topic of several research analyst reports. The Goldman Sachs Group assumed coverage on shares of Altimmune in a research report on Wednesday, January 24th. They set a “neutral” rating and a $13.00 price objective on the stock. B. Riley reissued a “buy” rating and set a $20.00 target price on shares of Altimmune in a research note on Thursday, March 28th. Finally, HC Wainwright decreased their target price on shares of Altimmune from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Monday, April 1st.

Altimmune Stock Performance

The firm’s 50 day moving average is $9.28 and its 200-day moving average is $7.52. The firm has a market cap of $514.66 million, a price-to-earnings ratio of -4.40 and a beta of 0.05.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ALT. Gerber LLC increased its stake in Altimmune by 10.2% in the first quarter. Gerber LLC now owns 281,778 shares of the company’s stock valued at $2,868,000 after acquiring an additional 26,000 shares during the period. Wealth Effects LLC acquired a new position in Altimmune in the first quarter valued at about $150,000. Brown Wealth Management LLC acquired a new position in Altimmune in the fourth quarter valued at about $844,000. Pennant Investors LP acquired a new position in Altimmune in the fourth quarter valued at about $1,235,000. Finally, Lighthouse Investment Partners LLC acquired a new position in Altimmune in the fourth quarter valued at about $4,493,000. 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.