Altimmune Inc. (NASDAQ: ALT) stock fell -4.08% on Friday to $14.35 against a previous-day closing price of $14.96. With 1.55 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.37 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $15.07 whereas the lowest price it dropped to was $14.28. The 52-week range on ALT shows that it touched its highest point at $23.49 and its lowest point at $3.83 during that stretch. It currently has a 1-year price target of $29.12. Beta for the stock currently stands at 0.18.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ALT was down-trending over the past week, with a drop of -14.74%, but this was up by 39.86% over a month. Three-month performance surged to 44.37% while six-month performance rose 9.38%. The stock gained 99.58% in the past year, while it has lost -12.77% so far this year. A look at the trailing 12-month EPS for ALT yields -1.90 with Next year EPS estimates of -2.16. For the next quarter, that number is -0.52. This implies an EPS growth rate of -22.90% for this year and -14.90% for next year.
Float and Shares Shorts:
At present, 49.29 million ALT shares are outstanding with a float of 48.81 million shares on hand for trading. On Oct 13, 2022, short shares totaled 7.05 million, which was 14.38% higher than short shares on Sep 14, 2022. In addition to Dr. Vipin K. Garg Ph.D. as the firm’s Pres, CEO & Director, Mr. Richard I. Eisenstadt M.B.A. serves as its Chief Financial Officer.
Through their ownership of 82.27% of ALT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 60.56% of ALT, in contrast to 36.77% held by mutual funds. Shares owned by individuals account for 13.42%. As the largest shareholder in ALT with 11.67% of the stake, SSgA Funds Management, Inc. holds 5,734,424 shares worth 5,734,424. A second-largest stockholder of ALT, Janus Henderson Investors US LLC, holds 4,121,814 shares, controlling over 8.39% of the firm’s shares. Cormorant Asset Management LP is the third largest shareholder in ALT, holding 3,442,863 shares or 7.00% stake. With a 11.96% stake in ALT, the SPDR S&P Biotech ETF is the largest stakeholder. A total of 5,878,469 shares are owned by the mutual fund manager. The CREF Stock Account, which owns about 4.00% of ALT stock, is the second-largest Mutual Fund holder. It holds 1,967,212 shares valued at 32.36 million. Vanguard Total Stock Market Index holds 3.29% of the stake in ALT, owning 1,617,739 shares worth 26.61 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ALT since 8 analysts follow the stock currently. There are 8 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With ALT analysts setting a high price target of $50.00 and a low target of $20.00, the average target price over the next 12 months is $29.13. Based on these targets, ALT could surge 248.43% to reach the target high and rise by 39.37% to reach the target low. Reaching the average price target will result in a growth of 103.0% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. ALT will report FY 2022 earnings on 03/12/2024. Analysts have provided yearly estimates in a range of -$1.78 being high and -$2.82 being low. For ALT, this leads to a yearly average estimate of -$2.00. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Altimmune Inc. surprised analysts by $0.03 when it reported -$0.48 EPS against a consensus estimate of -$0.51. The surprise factor in the prior quarter was $0.08. Based on analyst estimates, the high estimate for the next quarter is -$0.32 and the low estimate is -$0.59. The average estimate for the next quarter is thus -$0.50.
Summary of Insider Activity:
Insiders traded ALT stock several times over the past three months with 2 Buys and 3 Sells. In these transactions, 20,139 shares were bought while 26,014 shares were sold. The number of buy transactions has increased to 25 while that of sell transactions has risen to 22 over the past year. The total number of shares bought during that period was 179,595 while 224,029 shares were sold.