Altimmune (ALT)
NASDAQ:ALT
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Altimmune
(NASDAQ:ALT)
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Rating:57Neutral
Price Target:
$3.00
▼(-14.29% Downside)
Action:Reiterated
Date:05/14/26
Score is held back by weak financial fundamentals (large ongoing losses and cash burn) and a bearish-to-neutral technical setup, but supported by a strong earnings-call outlook featuring significant new funding, regulatory momentum, and advancing Phase III readiness that reduces near-term financing risk.
Positive Factors
Balance-sheet strength
A debt-free balance sheet with meaningful equity provides durable financial flexibility to fund late-stage development and absorb trial timing variability. This reduces short-term refinancing risk and supports strategic choices (CROs, supply chain, comparability studies) over the next 2–6 months.
Negative Factors
Ongoing cash burn
Sustained negative operating and free cash flows indicate continued reliance on financing for operations. Even with recent proceeds, persistent burn will deplete resources over time absent revenue or cost reductions, keeping financing and dilution risk relevant across the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance-sheet strength
A debt-free balance sheet with meaningful equity provides durable financial flexibility to fund late-stage development and absorb trial timing variability. This reduces short-term refinancing risk and supports strategic choices (CROs, supply chain, comparability studies) over the next 2–6 months.
Read all positive factors
Altimmune (ALT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$569.81M
Dividend YieldN/A
Average Volume (3M)4.55M
Price to Earnings (P/E)―
Beta (1Y)1.58
Revenue Growth80.00%
EPS Growth25.18%
CountryUS
Employees59
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.93
Shares Outstanding194,474,150
10 Day Avg. Volume2,841,597
30 Day Avg. Volume4,553,048
Financial Highlights & Ratios
PEG Ratio0.14
Price to Book (P/B)1.41
Price to Sales (P/S)7757.46
P/FCF Ratio-4.71
Enterprise Value/Market Cap0.34
Enterprise Value/Revenue5.39K
Enterprise Value/Gross Profit-12.99
Enterprise Value/Ebitda-2.08
Forecast
1Y Price Target
$13.30Price Target Upside280.00% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)-0.72
Revenue Forecast (FY)$5.13K
Altimmune Business Overview & Revenue Model
Company Description
Altimmune, Inc., a clinical stage biopharmaceutical company, focuses on developing treatments for obesity and liver diseases. The company's lead product candidate, pemvidutide (proposed INN, formerly known as ALT-801), is a GLP-1/glucagon dual rec...
How the Company Makes Money
Altimmune does not have meaningful recurring revenue from commercial product sales because it has no FDA-approved (or otherwise approved) marketed products. The company’s funding historically comes primarily from financing activities (e.g., issuin...
Altimmune Earnings Call Summary
Earnings Call Date:May 13, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 06, 2026
Earnings Call Sentiment Positive
The call conveyed significant progress: strong financing ($225M offering; $535M pro forma cash), regulatory recognition (Breakthrough Therapy), alignment with FDA/EMA on the PERFORMA Phase III protocol, robust Phase II efficacy/tolerability signals, and near-term readouts (AUD topline; RESTORE enrollment). Challenges were mostly operational and expected for a late-stage biotech: higher G&A and R&D as programs advance, a wider net loss in the quarter, ongoing validation/integration of digital pathology tools, and a competitive landscape necessitating clear differentiation. Overall, the positives — especially the cash runway and Phase III readiness — materially outweigh the manageable execution and competitive risks.Positive Updates
Completed Oversubscribed Financing
Closed an oversubscribed public offering in April with $225.0M gross proceeds; pro forma cash of ~$535.0M as of April 30 (up from $332.0M at March 31, a ~61% increase), providing runway through the pro forma Phase III MASH 52-week data readout expected in 2029.
Negative Updates
Increased Net Loss in Q1 2026
Net loss widened to $22.6M in Q1 2026 from $19.6M in Q1 2025 (increase of $3.0M, ~15.3%), reported as $0.18 loss per share vs $0.26 prior year.
Read all updates
Q1-2026 Updates
Positive
Negative
Completed Oversubscribed Financing
Closed an oversubscribed public offering in April with $225.0M gross proceeds; pro forma cash of ~$535.0M as of April 30 (up from $332.0M at March 31, a ~61% increase), providing runway through the pro forma Phase III MASH 52-week data readout expected in 2029.
Read all positive updates
Company Guidance
On the call (May 13, 2026) management outlined near‑term and multi‑year guidance supported by key metrics: Altimmune completed an oversubscribed public offering with $225 million gross proceeds and had pro forma cash of approximately $535 million as of April 30 (reported cash was $332 million as of March 31), which the company says provides operating runway through the pro‑forma Phase III (PERFORMA) MASH 52‑week biopsy data readout expected in 2029; the PERFORMA global Phase III is planned to initiate in H2 2026 with a 1.2 mg start dose titrating (1–2 steps of 4 weeks) to 1.8 mg or 2.4 mg, powered on the 1.8 mg dose, and with the 52‑week biopsy as the accelerated‑approval endpoint (no other interim analyses planned); near‑term clinical milestones include presentation of the 48‑week IMPACT data at EASL and top‑line Phase II RECLAIM (AUD) results this year (RECLAIM is a 100‑subject, once‑weekly 24‑week study with primary endpoint change in heavy drinking days and key secondary endpoints including 0 heavy drinking days, a 2‑level WHO risk reduction and PET biomarker); Q1 2026 financials were R&D $16.2M (including $9.5M direct pemvi costs: $3.7M MASH, $4.2M AUD/ALD, $1.6M CMC; $1.2M noncash stock comp), G&A $8.1M (including $2.1M noncash stock comp), and a net loss of $22.6M or $0.18 per share.Altimmune Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
74
Positive
Cash Flow
33
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 36.00K | 41.00K | 20.00K | 426.00K | -68.00K | 4.41M |
| Gross Profit | -14.95M | 41.00K | 20.00K | 426.00K | -68.00K | 4.41M |
| EBITDA | -93.46M | -87.03M | -94.81M | -87.94M | -84.41M | -96.53M |
| Net Income | -91.08M | -88.09M | -95.06M | -88.45M | -84.71M | -97.09M |
Balance Sheet | ||||||
| Total Assets | 335.63M | 279.93M | 139.31M | 210.64M | 206.93M | 218.87M |
| Cash, Cash Equivalents and Short-Term Investments | 331.54M | 273.46M | 131.89M | 197.81M | 184.88M | 190.30M |
| Total Debt | 35.85M | 35.69M | 1.68M | 671.00K | 1.12M | 1.53M |
| Total Liabilities | 51.64M | 55.04M | 15.80M | 16.54M | 21.64M | 19.73M |
| Stockholders Equity | 283.99M | 224.89M | 123.51M | 194.10M | 185.29M | 199.13M |
Cash Flow | ||||||
| Free Cash Flow | -71.97M | -67.55M | -79.85M | -75.86M | -62.71M | -90.55M |
| Operating Cash Flow | -71.94M | -67.53M | -79.85M | -75.81M | -62.59M | -78.24M |
| Investing Cash Flow | -131.06M | -132.47M | -28.39M | 13.73M | -73.40M | 87.52M |
| Financing Cash Flow | 251.49M | 206.84M | 10.04M | 86.11M | 56.78M | 65.10M |
Altimmune Technical Analysis
Negative
3.50
Price Trends
3.15
Negative
3.81
Negative
3.96
Negative
Market Momentum
-0.10
Negative
44.79
Neutral
36.25
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ALT, the sentiment is Negative. The current price of 3.5 is above the 20-day moving average (MA) of 2.91, above the 50-day MA of 3.15, and below the 200-day MA of 3.96, indicating a bearish trend. The MACD of -0.10 indicates Negative momentum. The RSI at 44.79 is Neutral, neither overbought nor oversold. The STOCH value of 36.25 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ALT.
Altimmune Risk Analysis
Altimmune disclosed 65 risk factors in its most recent earnings report. Altimmune reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Altimmune Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
58 Neutral | $964.59M | -6.91 | -73.23% | ― | ― | -42.64% | |
57 Neutral | $569.81M | -4.25 | -42.57% | ― | 80.00% | 25.18% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $33.68M | -1.10 | -64.17% | ― | -100.00% | 94.65% | |
48 Neutral | $310.91M | -9.07 | -77.09% | ― | ― | -9.22% | |
47 Neutral | $410.67M | -5.77 | -47.48% | ― | ― | 56.00% | |
45 Neutral | $115.89M | -5.39 | -55.83% | ― | ― | -48.08% |
* Healthcare Sector Average
ALT
Altimmune
2.90
-2.81
-49.21%
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Altimmune Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Altimmune Raises $211 Million in Equity Offering
Positive
Apr 24, 2026
On April 22, 2026, Altimmune entered into an underwriting agreement with Leerink Partners and Barclays to sell 64,250,000 shares of common stock with accompanying warrants, plus up to 10,750,000 pre-funded warrants, at a public offering price of $...
Business Operations and StrategyShareholder Meetings
Altimmune Stockholders Approve Proposals at 2026 Annual Meeting
Positive
Apr 16, 2026
On April 16, 2026, Altimmune, Inc. held its 2026 Annual Meeting of Stockholders, with 67.8% of the company’s 130.1 million outstanding common shares present or represented by proxy, establishing a quorum for voting. Stockholders re-elected a...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.