JPMorgan Chase & Co. Trims Stake in Altimmune, Inc. (NASDAQ:ALT)

JPMorgan Chase & Co. lowered its holdings in Altimmune, Inc. (NASDAQ:ALT) by 65.5% during the third quarter, Holdings Channel.com reports. The firm owned 100,912 shares of the company’s stock after selling 191,848 shares during the period. JPMorgan Chase & Co.’s holdings in Altimmune were worth $620,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ALT. Dimensional Fund Advisors LP boosted its position in shares of Altimmune by 142.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 570,174 shares of the company’s stock worth $3,791,000 after purchasing an additional 335,444 shares during the period. Bellevue Group AG lifted its stake in Altimmune by 43.9% during the third quarter. Bellevue Group AG now owns 863,660 shares of the company’s stock worth $5,303,000 after purchasing an additional 263,660 shares in the last quarter. Virtu Financial LLC acquired a new position in Altimmune during the third quarter worth $674,000. Exchange Traded Concepts LLC boosted its position in shares of Altimmune by 74.4% during the third quarter. Exchange Traded Concepts LLC now owns 216,761 shares of the company’s stock worth $1,331,000 after buying an additional 92,498 shares during the period. Finally, Barclays PLC grew its stake in shares of Altimmune by 93.0% in the third quarter. Barclays PLC now owns 155,741 shares of the company’s stock valued at $956,000 after buying an additional 75,064 shares in the last quarter. 78.05% of the stock is owned by hedge funds and other institutional investors.

Altimmune Price Performance

ALT stock opened at $7.00 on Tuesday. Altimmune, Inc. has a 1 year low of $5.28 and a 1 year high of $14.84. The firm has a market capitalization of $497.84 million, a P/E ratio of -4.52 and a beta of 0.22. The business’s 50-day moving average is $7.88 and its two-hundred day moving average is $7.20.

Altimmune (NASDAQ:ALT) last issued its earnings results on Tuesday, November 12th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.03. Altimmune had a negative net margin of 199,076.92% and a negative return on equity of 55.81%. The firm had revenue of $0.01 million for the quarter. During the same period last year, the business earned ($0.39) EPS. On average, analysts expect that Altimmune, Inc. will post -1.35 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ALT shares. HC Wainwright reissued a “buy” rating and set a $12.00 target price on shares of Altimmune in a research note on Wednesday, January 22nd. Stifel Nicolaus assumed coverage on shares of Altimmune in a research report on Wednesday, January 8th. They set a “buy” rating and a $18.00 price target on the stock. Finally, UBS Group assumed coverage on shares of Altimmune in a report on Tuesday, November 12th. They issued a “buy” rating and a $26.00 price objective for the company. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $20.83.

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.