Uncovering Institutional Buying In Altimmune Inc. (NASDAQ: ALT)


Renaissance Technologies LLC recently announced the acquisition of new stake in Altimmune Inc. (NASDAQ:ALT). The institutional investor has increased its shareholding in the Healthcare company by 255.93% to 0.62 million shares with purchase of 0.44 million shares. This fresh investment now brings its stake to 2.86% valued currently at $6.61 million. In addition, The Vanguard Group, Inc. raised its holdings by 46534.0 to 0.58 million shares. And BlackRock Fund Advisors has lifted its position by 4.00% or 1256.0 shares – to 32684.0 shares.

With over 2.07 million Altimmune Inc. (ALT) shares trading Wednesday and a closing price of $22.52 on the day, the dollar volume was approximately $46.55 million. The shares have shown a negative weekly performance of -24.84% and its price on 07/28/20 lost nearly -4.58%. Currently, there are 15.11M common shares owned by the public and among those 12.07M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for ALT have a consensus price objective of $50.00. The analysts have set the share’s price value over the next 12 months at a high of $50.00 and a low of $50.00 should the stock experience a downside. The average price target is -73.23% below its last price level and a downside to the estimated low will see the stock gain 54.96% over that period. But an upside of 54.96% will see the stock hit the forecast high price target while mean target price for the stock is $50.00.

Insiders at the company have transacted a total of 21 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 11 of these insider trades were purchases, accounting for 2,846,684 shares. Insider sales of the common stock occurred on 10 occasions, with total insider shares sold totaling 238,066 shares.

The top 3 mutual fund holders in Altimmune Inc. are Vanguard Total Stock Market Index, Vanguard Extended Market Index Fu, and Fidelity Extended Market Index Fu. Vanguard Total Stock Market Index owns 0.39 million shares of the company’s stock, all valued at over $4.18 million. The company sold 2627.0 shares recently to bring their total holdings to about 1.81% of the shares outstanding. Fidelity Extended Market Index Fu now owns shares totaling to 0.26% of the shares outstanding.

Shares of Altimmune Inc. (NASDAQ: ALT) opened at $23.60, unchanged from a prior closing price of $23.60. However, the script later closed the day at $22.52, down -4.58%. The company’s stock has a 5-day price change of -24.84% and 663.75% over the past three months. ALT shares are trading 1148.68% year to date (YTD), with the 12-month market performance up to 904.26% higher. It has a 12-month low price of $1.51 and touched a high of $35.10 over the same period. Currently, 2.07 million shares have been traded, compared to an average intraday trading volume of 5.31 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.25%, 67.85%, and 340.94% respectively.

Institutional ownership of Altimmune Inc. (NASDAQ: ALT) shares accounts for 19.70% of the company’s 15.11M shares outstanding. Mutual fund holders own 30.45%, while other institutional holders and individual stakeholders account for 4.03% and 3.39% respectively.

It has a market capitalization of $795.56M and a beta (3y monthly) value of 2.11. The earnings-per-share (ttm) stands at -$1.53. Price movements for the stock have been influenced by the stock’s volatility, which stands at 14.37% over the week and 23.36% over the month.

Analysts forecast that Altimmune Inc. (ALT) will achieve an EPS of -$0.4 for the current quarter, -$0.38 for the next quarter and -$1.71 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.52 while analysts give the company a high EPS estimate of -$0.28. Comparatively, EPS for the current quarter was -$0.26 a year ago. Earnings per share for the fiscal year are expected to increase by 89.50%, and -6.10% over the next financial year.

Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the ALT, a number of firms have released research notes about the stock. JMP Securities stated their Mkt Outperform rating for the stock in a research note on July 28, 2020, with the firm’s price target at $50. ROTH Capital coverage for the Altimmune Inc. (ALT) stock in a research note released on February 24, 2020 offered a Buy rating with a price target of $13. ROTH Capital was of a view on July 19, 2019 that the stock is Buy, while Piper Jaffray gave the stock Overweight rating on October 09, 2017, issuing a price target of $6.


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