As of Monday, Altimmune Inc.’s (NASDAQ:ALT) stock closed at $12.10, up from $12.01 the previous day. While Altimmune Inc. has overperformed by 0.75%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, ALT rose by 33.41%, with highs and lows ranging from $17.26 to $3.83, whereas the simple moving average jumped by 45.52% in the last 200 days.
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On December 29, 2021, Jefferies started tracking Altimmune Inc. (NASDAQ: ALT) recommending Buy. A report published by H.C. Wainwright on June 02, 2021, Initiated its previous ‘Buy’ rating for ALT. Guggenheim also rated ALT shares as ‘Buy’, setting a target price of $36 on the company’s shares in an initiating report dated February 11, 2021. Jefferies Initiated an Buy rating on December 14, 2020, and assigned a price target of $25. B. Riley Securities resumed its ‘Buy’ rating for ALT, as published in its report on November 12, 2020. B. Riley FBR’s report from September 25, 2020 suggests a price prediction of $31 for ALT shares, giving the stock a ‘Buy’ rating. Evercore ISI also rated the stock as ‘Outperform’.
Analysis of Altimmune Inc. (ALT)
Further, the quarter-over-quarter decrease in sales is -96.20%, showing a negative trend in the upcoming months.
One of the most important indicators of Altimmune Inc.’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. The goal here is to ensure that your current return on equity of -48.70% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 10.00, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can also provide valuable insight into volatility, and ALT is recording 1.45M average volume. On a monthly basis, the volatility of the stock is set at 8.28%, whereas on a weekly basis, it is put at 5.95%, with a loss of -1.55% over the past seven days. Furthermore, long-term investors anticipate a median target price of $23.14, showing growth from the present price of $12.10, which can serve as yet another indication of whether ALT is worth investing in or should be passed over.
How Do You Analyze Altimmune Inc. Shares?
Along with the fundamentals, it is also important to consider how many employees own shares of the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.80%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 84.70% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in ALT shares?
The recent increase in stakes in ALT appears to be a result of several institutional investors and hedge funds increasing their positions. TIAA-CREF Investment Management L’s position in ALT has increased by 42.96% in the first quarter. The company now owns 3,159,176 shares of the stock, with a value of $36.96 million, following the purchase of 949,372 additional shares during the last quarter. During the last quarter, the company picked up 3,000,000 additional shares for a total stake of worth $35.1 million, bringing number of shares owned by the company to 3,000,000.
During the first quarter, Avidity Partners Management LP added a 100,000 position in ALT. BlackRock Fund Advisors sold an additional 16702.0 shares in the last quarter, decreasing its holdings by -0.61%, now holding 2.7 million shares worth $31.58 million. At the end of the first quarter, Tang Capital Management LLC increased its ALT holdings by 60.86% and now holds 2.57 million ALT shares valued at $30.11 million with the added 0.97 million shares during the period. ALT shares are owned by institutional investors to the tune of 84.70% at present.