UBS Group Initiates Coverage on Altimmune (NASDAQ:ALT)

UBS Group initiated coverage on shares of Altimmune (NASDAQ:ALT) in a report released on Tuesday morning, MarketBeat reports. The brokerage issued a buy rating and a $26.00 price objective on the stock.

A number of other research analysts have also recently commented on the company. Evercore ISI raised Altimmune to a “strong-buy” rating in a research note on Friday, August 9th. HC Wainwright reiterated a “buy” rating and issued a $12.00 target price on shares of Altimmune in a research note on Thursday, August 22nd. Finally, B. Riley reissued a “buy” rating and set a $20.00 target price on shares of Altimmune in a research note on Monday, August 12th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.00.

Altimmune Trading Down 10.0 %

ALT opened at $7.61 on Tuesday. The stock has a 50-day moving average of $7.02 and a 200 day moving average of $6.91. Altimmune has a 12 month low of $2.34 and a 12 month high of $14.84. The firm has a market cap of $541.22 million, a P/E ratio of -4.91 and a beta of 0.09.

Altimmune (NASDAQ:ALT) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.03. Altimmune had a negative net margin of 199,076.92% and a negative return on equity of 55.81%. The company had revenue of $0.01 million during the quarter. During the same period in the previous year, the firm earned ($0.39) earnings per share. On average, research analysts forecast that Altimmune will post -0.54 earnings per share for the current fiscal year.

Insider Activity at Altimmune

In other Altimmune news, Director David Drutz sold 16,011 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $6.90, for a total transaction of $110,475.90. Following the sale, the director now owns 41,958 shares of the company’s stock, valued at approximately $289,510.20. This trade represents a 27.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Altimmune

A number of hedge funds have recently made changes to their positions in ALT. Price T Rowe Associates Inc. MD grew its holdings in Altimmune by 13.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,238 shares of the company’s stock worth $156,000 after purchasing an additional 1,821 shares during the last quarter. Creative Planning grew its stake in Altimmune by 20.5% during the 3rd quarter. Creative Planning now owns 18,411 shares of the company’s stock worth $113,000 after buying an additional 3,132 shares during the last quarter. CANADA LIFE ASSURANCE Co acquired a new position in Altimmune during the 1st quarter valued at about $44,000. Charles Schwab Investment Management Inc. raised its stake in Altimmune by 2.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 211,626 shares of the company’s stock valued at $1,299,000 after buying an additional 4,772 shares during the last quarter. Finally, Larson Financial Group LLC acquired a new stake in Altimmune in the third quarter worth about $31,000. 78.05% of the stock is currently owned by hedge funds and other institutional investors.

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.