B. Riley Wealth Advisors Inc. Raises Stake in Altimmune, Inc. (NASDAQ:ALT)

B. Riley Wealth Advisors Inc. raised its position in Altimmune, Inc. (NASDAQ:ALT) by 12.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,454 shares of the company’s stock after purchasing an additional 2,687 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Altimmune were worth $144,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of ALT. Creative Planning lifted its stake in Altimmune by 20.5% during the third quarter. Creative Planning now owns 18,411 shares of the company’s stock worth $113,000 after purchasing an additional 3,132 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Altimmune by 2.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 211,626 shares of the company’s stock worth $1,299,000 after buying an additional 4,772 shares during the last quarter. Larson Financial Group LLC acquired a new position in shares of Altimmune in the 3rd quarter valued at $31,000. Arizona State Retirement System grew its position in shares of Altimmune by 34.4% in the 2nd quarter. Arizona State Retirement System now owns 19,847 shares of the company’s stock valued at $132,000 after buying an additional 5,081 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Altimmune by 30.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 26,973 shares of the company’s stock valued at $179,000 after buying an additional 6,339 shares during the last quarter. 78.05% of the stock is currently owned by institutional investors and hedge funds.

Altimmune Stock Performance

Shares of ALT opened at $8.25 on Monday. The company has a market capitalization of $586.78 million, a price-to-earnings ratio of -5.32 and a beta of 0.15. Altimmune, Inc. has a fifty-two week low of $5.28 and a fifty-two week high of $14.84. The firm has a 50-day simple moving average of $7.93 and a 200-day simple moving average of $7.10.

Altimmune (NASDAQ:ALT) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.03. The company had revenue of $0.01 million during the quarter. Altimmune had a negative return on equity of 55.81% and a negative net margin of 199,076.92%. During the same period in the previous year, the business posted ($0.39) earnings per share. Equities research analysts forecast that Altimmune, Inc. will post -1.36 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on ALT shares. UBS Group began coverage on shares of Altimmune in a research note on Tuesday, November 12th. They issued a “buy” rating and a $26.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $12.00 target price on shares of Altimmune in a research report on Thursday, November 14th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Altimmune currently has an average rating of “Moderate Buy” and an average price target of $20.00.

Altimmune 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.