Altimmune (NASDAQ:ALT) Issues Earnings Results, Beats Expectations By $0.08 EPS

Altimmune (NASDAQ:ALT) posted its quarterly earnings results on Thursday. The company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.08, Zacks reports. Altimmune had a negative return on equity of 62.63% and a negative net margin of 438,730.03%.The business had revenue of $0.01 million for the quarter, compared to the consensus estimate of $0.00 million.

Altimmune Stock Up 4.3%

NASDAQ:ALT traded up $0.17 on Friday, hitting $4.11. The stock had a trading volume of 4,196,187 shares, compared to its average volume of 3,502,033. Altimmune has a 1 year low of $2.90 and a 1 year high of $11.16. The firm’s fifty day simple moving average is $3.87 and its two-hundred day simple moving average is $4.54. The stock has a market cap of $362.74 million, a P/E ratio of -3.48 and a beta of 0.01. The company has a debt-to-equity ratio of 0.09, a quick ratio of 20.44 and a current ratio of 20.44.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets raised its stake in shares of Altimmune by 108.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 10,095 shares of the company’s stock worth $39,000 after purchasing an additional 5,253 shares during the period. Prudential Financial Inc. bought a new position in Altimmune during the second quarter valued at about $43,000. Geneos Wealth Management Inc. purchased a new stake in Altimmune during the first quarter worth about $50,000. Bayesian Capital Management LP bought a new stake in Altimmune in the second quarter worth about $55,000. Finally, Tower Research Capital LLC TRC boosted its stake in Altimmune by 234.9% in the second quarter. Tower Research Capital LLC TRC now owns 14,956 shares of the company’s stock valued at $58,000 after acquiring an additional 10,490 shares during the last quarter. Institutional investors own 78.05% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Wall Street Zen upgraded shares of Altimmune from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. UBS Group reduced their price objective on shares of Altimmune from $26.00 to $24.00 and set a “buy” rating for the company in a report on Wednesday, August 13th. HC Wainwright restated a “buy” rating and issued a $12.00 target price on shares of Altimmune in a report on Monday, October 20th. Citizens Jmp dropped their price target on shares of Altimmune from $15.00 to $14.00 and set a “market outperform” rating on the stock in a research report on Friday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Altimmune in a research note on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $16.83.

Altimmune Company Profile

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.