Altimmune (NASDAQ:ALT) Hits New 1-Year Low – What’s Next?

Altimmune, Inc. (NASDAQ:ALT) shares hit a new 52-week low during mid-day trading on Thursday. The stock traded as low as $2.55 and last traded at $2.5750, with a volume of 2,028,174 shares changing hands. The stock had previously closed at $2.66.

Analyst Ratings Changes

Several research analysts recently issued reports on ALT shares. Wall Street Zen upgraded shares of Altimmune from a “strong sell” rating to a “sell” rating in a report on Saturday, June 27th. Leerink Partners began coverage on Altimmune in a research note on Monday, June 22nd. They issued an “outperform” rating and a $10.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Altimmune in a research note on Monday, September 21st. HC Wainwright reissued a “buy” rating on shares of Altimmune in a research note on Tuesday, July 28th. Finally, Evercore reaffirmed an “outperform” rating on shares of Altimmune in a research report on Wednesday, September 23rd. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.33.

Altimmune Stock Up 0.4%

The stock’s fifty day moving average is $3.07 and its two-hundred day moving average is $3.02. 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 company has a market capitalization of $507.70 million, a PE ratio of -3.35 and a beta of 0.06.

Altimmune (NASDAQ:ALT) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.02. As a group, analysts predict that Altimmune, Inc. will post -0.58 EPS for the current year.

Institutional Trading of Altimmune

Several hedge funds have recently made changes to their positions in ALT. Sequoia Financial Advisors LLC purchased a new stake in Altimmune in the 2nd quarter worth about $98,000. WINTON GROUP Ltd bought a new position in Altimmune in the 2nd quarter worth approximately $49,000. Squarepoint Ops LLC grew its stake in Altimmune by 1,016.5% in the 2nd quarter. Squarepoint Ops LLC now owns 202,380 shares of the company’s stock valued at $615,000 after buying an additional 184,254 shares in the last quarter. Corient Private Wealth LP grew its stake in Altimmune by 77.5% in the 2nd quarter. Corient Private Wealth LP now owns 54,226 shares of the company’s stock valued at $165,000 after buying an additional 23,673 shares in the last quarter. Finally, Syon Capital LLC bought a new stake in Altimmune during the 2nd quarter valued at $52,000. 78.05% of the stock is currently owned by institutional investors.

Altimmune Company Profile

Altimmune, Inc (NASDAQ:ALT) is a clinical-stage biotechnology company developing peptide-based therapeutics for metabolic and liver diseases. The company’s lead product candidate is pemvidutide, an investigational dual GLP-1 and glucagon receptor agonist being studied for chronic weight management and metabolic dysfunction-associated steatohepatitis (MASH), formerly known as nonalcoholic steatohepatitis (NASH).

Altimmune’s development programs are focused on addressing obesity, related metabolic conditions and chronic liver disease.