Altimmune, Inc. (NASDAQ: ALT) released its quarterly earnings on Thursday, reporting a loss of ($0.27) earnings per share (EPS). This figure fell short of analysts’ expectations, which had projected a loss of ($0.25) EPS by $0.02. The company recorded revenues of $0.03 million for the quarter, surpassing forecasts of zero revenue.
The financial results highlighted a significant negative net margin of 419,575.00% and a return on equity of (54.79%). Following the announcement, Altimmune’s stock saw a modest increase of 1.4%, with shares trading up $0.05 to reach $3.56 during mid-day trading on Friday. Approximately 1,499,870 shares changed hands, compared to an average trading volume of 4,766,929 shares.
Market Response and Trading Details
Altimmune’s stock has seen fluctuations, with a fifty-day moving average of $4.49 and a two-hundred-day moving average of $4.28. The company’s stock has experienced a fifty-two week low of $2.90 and a high of $7.73. Currently, Altimmune boasts a market capitalization of $401.67 million, a price-to-earnings ratio of (3.33), and a beta of 0.13.
Insider activity has also been notable. Director Jerome Benedict Durso acquired 12,500 shares on December 22 at an average price of $4.13 per share, totaling $51,625. Similarly, Director John Gill purchased 12,500 shares on December 23 at an average price of $4.10, amounting to $51,250. These transactions indicate a significant increase in their respective holdings, reflecting confidence in the company’s future.
Institutional Investment Trends
Altimmune has seen increased interest from institutional investors recently. Notably, Two Sigma Investments LP boosted its stake by an impressive 356.6% in the third quarter, acquiring an additional 1,559,562 shares for a total of $7,528,000. Other institutions, such as State Street Corp and Vanguard Group Inc., have also expanded their positions, indicating a broader trend of institutional confidence in the company.
As of now, institutional investors and hedge funds own approximately 78.05% of Altimmune’s stock. This robust backing from institutions may provide some stability as the company navigates its future.
Analysts’ Outlook and Ratings
Several analysts have weighed in on Altimmune’s stock, providing varying ratings. Weiss Ratings reaffirmed a “sell (d-)” rating, while Citizens JMP adjusted their price target from $15.00 to $14.00, maintaining a “market outperform” rating. Barclays initiated coverage with an “overweight” rating and a target price of $20.00.
Overall, the stock has garnered attention from analysts, with six rating it as “buy,” one as “hold,” and two as “sell.” The consensus rating reflects an average target price of $17.60, suggesting potential for growth despite current challenges.
About Altimmune
Based in Gaithersburg, Maryland, Altimmune is a clinical-stage biopharmaceutical company focused on developing innovative vaccines and immunotherapeutics. The firm leverages proprietary technologies to create intranasal vaccine candidates, particularly targeting infectious diseases and chronic conditions. One of its leading projects, NasoVAX, is an investigational intranasal influenza vaccine designed for broad and durable protection.
As Altimmune continues its development efforts, the recent earnings report and insider trading activity may provide insights into the company’s strategic direction and market confidence moving forward.
