Altimmune (NASDAQ:ALT) Earns Buy Rating from B. Riley

B. Riley reiterated their buy rating on shares of Altimmune (NASDAQ:ALT) in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has a $20.00 price target on the stock. B. Riley also issued estimates for Altimmune’s Q1 2024 earnings at ($0.30) EPS and Q2 2024 earnings at ($0.30) EPS.

ALT has been the subject of a number of other reports. The Goldman Sachs Group began coverage on Altimmune in a research note on Wednesday, January 24th. They set a neutral rating and a $13.00 target price for the company. HC Wainwright reissued a buy rating and set a $15.00 target price on shares of Altimmune in a research note on Friday, December 1st.

Altimmune Price Performance

Shares of ALT stock opened at $10.18 on Thursday. The stock has a market cap of $546.97 million, a PE ratio of -6.17 and a beta of 0.08. The stock has a 50-day moving average of $9.92 and a 200-day moving average of $6.80. Altimmune has a one year low of $2.09 and a one year high of $14.84.

Institutional Investors Weigh In On Altimmune

Hedge funds have recently added to or reduced their stakes in the business. Barclays PLC lifted its holdings in Altimmune by 62.0% during the 3rd quarter. Barclays PLC now owns 180,409 shares of the company’s stock valued at $470,000 after purchasing an additional 69,014 shares during the last quarter. GSA Capital Partners LLP increased its position in Altimmune by 153.1% during the 3rd quarter. GSA Capital Partners LLP now owns 445,868 shares of the company’s stock worth $1,159,000 after buying an additional 269,676 shares during the period. Dark Forest Capital Management LP increased its position in Altimmune by 13.4% during the 3rd quarter. Dark Forest Capital Management LP now owns 230,353 shares of the company’s stock worth $599,000 after buying an additional 27,210 shares during the period. Keudell Morrison Wealth Management bought a new position in Altimmune during the 3rd quarter worth $36,000. Finally, WealthPlan Investment Management LLC bought a new position in Altimmune during the 3rd quarter worth $31,000. Institutional investors and hedge funds 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 non-alcoholic steatohepatitis.