BlackRock Fund Advisors recently announced the acquisition of new stake in Altimmune Inc (NASDAQ:ALT). The institutional investor has increased its shareholding in the Healthcare company by 2.36% to 3.44 million shares with purchase of 79241.0 shares. This fresh investment now brings its stake to 6.40% valued currently at $10.87 million. In addition, The Vanguard Group, Inc. raised its holdings by 38323.0 to 3.3 million shares. And Geode Capital Management LLC has lifted its position by 8.61% or 83475.0 shares – to 1.05 million shares.
With over 9.09 million Altimmune Inc (ALT) shares trading Friday and a closing price of $11.25 on the day, the dollar volume was approximately $102.21 million. The shares have shown a positive half year performance of 218.70% and its price on 12/29/23 lost nearly -3.18%. Currently, there are 53.73M common shares owned by the public and among those 53.20M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 7 analysts who have offered their price forecasts for ALT have a consensus price objective of $22.29. The analysts have set the share’s price value over the next 12 months at a high of $35.00 and a low of $15.00. The average price target is 49.53% above its recent price level and an upside to the estimated low will see the stock gain 25.0% over that period. But an upside of 67.86% will see the stock hit the forecast high price target while median target price for the stock is $25.00.
Insiders at the company have transacted a total of 25 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 19 of these insider trades were purchases, accounting for 103,562 shares. Insider sales of the common stock occurred on 6 occasions, with total insider shares sold totaling 25,185 shares.
The top 3 mutual fund holders in Altimmune Inc are CREF Stock Account, Vanguard Total Stock Market ETF, and iShares Russell 2000 ETF. CREF Stock Account owns 2.0 million shares of the company’s stock, all valued at over $6.31 million. iShares Russell 2000 ETF bought 657.0 shares to bring its total holdings to over 1.33 million shares at a value of $4.21 million. iShares Russell 2000 ETF now owns shares totaling to 2.48% of the shares outstanding.
The company’s stock has a 5-day price change of 42.59% and 332.69% over the past three months. ALT shares are trading -31.61% year to date (YTD), with the 12-month market performance down to -23.68% lower. It has a 12-month low price of $2.09 and touched a high of $17.17 over the same period. ALT has an average intraday trading volume of 8.93 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 55.88%, 155.26%, and 183.23% respectively.
Institutional ownership of Altimmune Inc (NASDAQ: ALT) shares accounts for 56.53% of the company’s 53.73M shares outstanding. Mutual fund holders own 22.47%, while other institutional holders and individual stakeholders account for 34.09% and 12.42% respectively.
It has a market capitalization of $604.46M and a beta (3y monthly) value of 0.24. The earnings-per-share (ttm) stands at -$1.54. Price movements for the stock have been influenced by the stock’s volatility, which stands at 15.53% over the week and 21.43% over the month.
Analysts forecast that Altimmune Inc (ALT) will achieve an EPS of $iShares 20 Year Treasury Bond for the current quarter, $98.88 for the next quarter and $ETF for Type. The lowest estimate earnings-per-share for the quarter is $Altimmune, Inc. while analysts give the company a high EPS estimate of $Albemarle Corporation. Comparatively, EPS for the current quarter was $Palo Alto Networks, Inc. a year ago. Earnings per share for the fiscal year are expected to increase by 18.02%, and -12.89% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate Altimmune Inc (ALT) as a “Strong Buy” at a consensus score of 1.00. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 0 of the 7 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. Goldman stated their Neutral rating for the stock in a research note on March 22, 2023, with the firm’s price target at $20-$6.
