Altimmune (NASDAQ:ALT) Stock Price Down 8.1% After Analyst Downgrade

Altimmune, Inc. (NASDAQ:ALT) shares were down 8.1% on Tuesday after HC Wainwright lowered their price target on the stock from $15.00 to $12.00. HC Wainwright currently has a buy rating on the stock. Altimmune traded as low as $9.38 and last traded at $9.40. Approximately 509,332 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 5,962,100 shares. The stock had previously closed at $10.23.

ALT has been the topic of several other reports. B. Riley reissued a “buy” rating and issued a $20.00 price objective on shares of Altimmune in a research report on Thursday, March 28th. The Goldman Sachs Group started coverage on Altimmune in a research report on Wednesday, January 24th. They issued a “neutral” rating and a $13.00 price objective on the stock.

Institutional Trading of Altimmune

Hedge funds and other institutional investors have recently modified their holdings of the business. Barclays PLC increased its position in shares of Altimmune by 62.0% during the third quarter. Barclays PLC now owns 180,409 shares of the company’s stock worth $470,000 after acquiring an additional 69,014 shares during the last quarter. GSA Capital Partners LLP increased its position in shares of Altimmune by 153.1% during the third quarter. GSA Capital Partners LLP now owns 445,868 shares of the company’s stock worth $1,159,000 after acquiring an additional 269,676 shares during the last quarter. Dark Forest Capital Management LP grew its stake in Altimmune by 13.4% in the third quarter. Dark Forest Capital Management LP now owns 230,353 shares of the company’s stock worth $599,000 after purchasing an additional 27,210 shares in the last quarter. Keudell Morrison Wealth Management acquired a new position in Altimmune in the third quarter worth about $36,000. Finally, WealthPlan Investment Management LLC acquired a new position in Altimmune in the third quarter worth about $31,000. 78.05% of the stock is owned by hedge funds and other institutional investors.

Altimmune Stock Down 7.2 %

The stock has a 50 day moving average of $9.93 and a 200 day moving average of $6.88.

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.