Altimmune Inc. (NASDAQ:ALT) closed Monday at $14.57 per share, up from $14.35 a day earlier. While Altimmune Inc. has overperformed by 1.53%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, ALT rose by 109.34%, with highs and lows ranging from $23.49 to $3.83, whereas the simple moving average jumped by 31.34% in the last 200 days.
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On December 01, 2022, Goldman started tracking Altimmune Inc. (NASDAQ: ALT) recommending Buy. H.C. Wainwright also rated ALT shares as ‘Buy’, setting a target price of $35 on the company’s shares in an initiating report dated June 02, 2021. Guggenheim Initiated an Buy rating on February 11, 2021, and assigned a price target of $36. Jefferies initiated its ‘Buy’ rating for ALT, as published in its report on December 14, 2020. B. Riley Securities’s report from November 12, 2020 suggests a price prediction of $28 for ALT shares, giving the stock a ‘Buy’ rating. B. Riley FBR also rated the stock as ‘Buy’.
Analysis of Altimmune Inc. (ALT)
Further, the quarter-over-quarter decrease in sales is -98.70%, showing a negative trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Altimmune Inc.’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of -44.40% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 13.40, 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.
As an indicator of volatility for any stock, average volume can also be very valuable, and ALT is recording an average volume of 1.38M. On a monthly basis, the volatility of the stock is set at 9.11%, whereas on a weekly basis, it is put at 6.75%, with a loss of -10.56% over the past seven days. Furthermore, long-term investors anticipate a median target price of $29.12, showing growth from the present price of $14.57, 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?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. 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 0.60%. 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 94.70% 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. SSgA Funds Management, Inc.’s position in ALT has increased by 68.72% in the first quarter. The company now owns 5,734,424 shares of the stock, with a value of $94.33 million, following the purchase of 2,335,568 additional shares during the last quarter. During the last quarter, the company picked up 4,121,814 additional shares for a total stake of worth $67.8 million, bringing number of shares owned by the company to 4,121,814.
During the first quarter, Cormorant Asset Management LP added a 442,863 position in ALT. TIAA-CREF Investment Management L purchased an additional 0.15 million shares in the last quarter, increasing its holdings by 4.88%, now holding 3.21 million shares worth $52.87 million. At the end of the first quarter, Avidity Partners Management LP decreased its ALT holdings by -9.96% and now holds 2.68 million ALT shares valued at $44.15 million with the lessened -0.3 million shares during the period. ALT shares are owned by institutional investors to the tune of 94.70% at present.