Altimmune (NASDAQ:ALT) Stock Price Down 7%

Altimmune, Inc. (NASDAQ:ALT) shares were down 7% during mid-day trading on Monday . The stock traded as low as $7.40 and last traded at $7.43. Approximately 1,628,236 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 5,598,546 shares. The stock had previously closed at $7.99.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ALT shares. B. Riley reissued a “buy” rating and set a $20.00 price objective on shares of Altimmune in a research note on Thursday, March 28th. HC Wainwright decreased their target price on Altimmune from $15.00 to $12.00 and set a “buy” rating for the company in a report on Monday, April 1st. Finally, The Goldman Sachs Group initiated coverage on Altimmune in a report on Wednesday, January 24th. They set a “neutral” rating and a $13.00 target price for the company.

Altimmune Stock Down 4.8 %

The business has a fifty day simple moving average of $9.66 and a 200-day simple moving average of $7.33. The firm has a market cap of $507.57 million, a P/E ratio of -4.56 and a beta of 0.05.

Hedge Funds Weigh In On Altimmune

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Altimmune by 6.8% during the fourth quarter. Vanguard Group Inc. now owns 3,571,972 shares of the company’s stock valued at $40,185,000 after acquiring an additional 227,677 shares in the last quarter. Gerber LLC bought a new position in shares of Altimmune during the fourth quarter valued at $2,878,000. American International Group Inc. increased its holdings in shares of Altimmune by 6.5% during the fourth quarter. American International Group Inc. now owns 26,268 shares of the company’s stock valued at $296,000 after acquiring an additional 1,599 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Altimmune by 33.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,417 shares of the company’s stock valued at $151,000 after acquiring an additional 3,370 shares in the last quarter. Finally, Occudo Quantitative Strategies LP bought a new position in shares of Altimmune during the fourth quarter valued at $304,000. 78.05% of the stock is currently owned by 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 non-alcoholic steatohepatitis.