Altimmune (ALT) AI Stock Analysis

• Market Cap: $524.84M
• Dividend Yield: N/A
• Average Volume (3M): 3.48M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.69
• Revenue Growth: -61.54%
• EPS Growth: 31.25%
• Country: US
• Employees: 59
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.21
• Shares Outstanding: 104,342,384
• 10 Day Avg. Volume: 3,946,427
• 30 Day Avg. Volume: 3,477,687
• PEG Ratio: 0.28
• Price to Book (P/B): 4.14
• Price to Sales (P/S): 25596.73
• P/FCF Ratio: -6.41
• Enterprise Value/Market Cap: 0.27
• Enterprise Value/Revenue: 7.11K
• Enterprise Value/Gross Profit: -9.52
• Enterprise Value/Ebitda: -1.70
• 1Y Price Target: $13.00
• Price Target Upside: 155.40% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): -1.02
• Revenue Forecast (FY): $8.13K

• Rating: 55 Neutral
• Price Target: $5.00 ▼(-1.77% Downside)

Altimmune's overall stock score is primarily influenced by its financial challenges, with severe profitability issues and cash flow difficulties. However, the positive sentiment from the earnings call and technical indicators showing bullish momentum provide some optimism. The valuation remains weak due to negative earnings and no dividend yield.

Positive Factors

Clinical Progress

Timely completion of clinical trial enrollment demonstrates strong execution and demand, potentially accelerating drug development timelines.

Financial Position

A strengthened cash position enhances Altimmune's ability to fund ongoing R&D and operational needs, supporting long-term growth initiatives.

Leadership Expansion

Strategic leadership enhancements position Altimmune for future growth, bringing expertise to advance clinical programs and commercialization efforts.

Negative Factors

Profitability Issues

Persistently negative profit margins highlight operational inefficiencies and challenge Altimmune's ability to achieve sustainable profitability.

Cash Flow Challenges

Ongoing negative cash flows could hinder Altimmune's ability to invest in growth opportunities and meet financial obligations without additional funding.

Regulatory Dependency

Heavy reliance on regulatory changes introduces uncertainty in trial designs and timelines, potentially delaying product approvals and market entry.

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 receptor agonist that is in Phase 1b trial for the treatment of obesity and non-alcoholic steatohepatitis. It is also developing HepTcell, an immunotherapeutic product candidate, which is in Phase 2 clinical trial for patients chronically infected with the hepatitis B virus. The company was formerly known as Vaxin Inc. and changed its name to Altimmune, Inc. in September 2015. Altimmune, Inc. was founded in 1997 is headquartered in Gaithersburg, Maryland.

How the Company Makes Money

Altimmune generates revenue primarily through funding from partnerships, collaborations, and grants, particularly in the biopharmaceutical sector. The company may receive milestone payments and royalties from licensing agreements with larger pharmaceutical companies that involve its product candidates. Additionally, Altimmune may engage in equity financing and other fundraising activities to support its research and development efforts. Revenue can also be influenced by the success of its clinical trials and the advancement of its products towards commercialization, leading to potential sales revenue in the future.

Altimmune Financial Statement Overview

Summary

Altimmune's financial performance is severely challenged, with negative net profit margins and EBIT margins, stagnant revenue growth, and negative operating and free cash flows. The balance sheet shows low leverage but is undermined by negative returns on equity.

Income Statement

Altimmune's income statement reveals significant challenges, with consistently negative net profit margins and EBIT margins over the years. The TTM data shows a net profit margin of -4195.75%, indicating severe profitability issues. Revenue growth is stagnant, and gross profit margins have been negative or minimal, reflecting operational inefficiencies.

Balance Sheet

The balance sheet shows a relatively low debt-to-equity ratio, suggesting limited leverage, which is a positive aspect. However, the return on equity is negative, indicating that the company is not generating returns for its shareholders. The equity ratio is stable, but the overall financial health is weakened by persistent losses.

Cash Flow

Cash flow analysis indicates negative operating cash flows and free cash flows, with a slight improvement in free cash flow growth in recent years. The operating cash flow to net income ratio is negative, highlighting cash flow challenges. The free cash flow to net income ratio is close to 1, suggesting cash flow is closely tied to net income, albeit negative.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	20.00K	20.00K	426.00K	-68.00K	4.41M	8.19M
Gross Profit	-14.94M	20.00K	426.00K	-68.00K	4.41M	-25.32M
EBITDA	-83.72M	-94.81M	-87.94M	-84.41M	-96.53M	-38.10M
Net Income	-83.92M	-95.06M	-88.45M	-84.71M	-97.09M	-49.04M
Balance Sheet
Total Assets	218.45M	139.31M	210.64M	206.93M	218.87M	245.12M
Cash, Cash Equivalents and Short-Term Investments	210.78M	131.89M	197.81M	184.88M	190.30M	215.92M
Total Debt	15.90M	1.68M	671.00K	1.12M	1.53M	1.82M
Total Liabilities	32.85M	15.80M	16.54M	21.64M	19.73M	19.24M
Stockholders Equity	185.60M	123.51M	194.10M	185.29M	199.13M	225.88M
Cash Flow
Free Cash Flow	-66.66M	-79.85M	-75.86M	-62.71M	-90.55M	-34.65M
Operating Cash Flow	-66.65M	-79.85M	-75.81M	-62.59M	-78.24M	-34.31M
Investing Cash Flow	-39.68M	-28.39M	13.73M	-73.40M	87.52M	-72.23M
Financing Cash Flow	136.09M	10.04M	86.11M	56.78M	65.10M	213.49M

Altimmune Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 5.09
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ALT, the sentiment is Positive. The current price of 5.09 is below the 20-day moving average (MA) of 5.12, above the 50-day MA of 4.47, and above the 200-day MA of 4.66, indicating a neutral trend. The MACD of 0.23 indicates Positive momentum. The RSI at 54.39 is Neutral, neither overbought nor oversold. The STOCH value of 22.96 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ALT.

Altimmune Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ALT	55 Neutral	$524.84M	-4.76	-52.61%	―	-61.54%	31.25%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
ENGN	42 Neutral	$541.17M	-4.12	-43.95%	―	―	―
DMAC	42 Neutral	$456.20M	-11.45	-64.12%	―	―	-29.73%
TVRD	38 Underperform	$39.40M	-0.40	-97.61%	―	-53.67%	86.75%
DRTS	38 Underperform	$438.26M	-9.22	-54.38%	―	―	-22.82%
LXEO	38 Underperform	$710.17M	―	-80.69%	―	―	4.97%

Altimmune Corporate Events

Altimmune Announces CEO Transition Plan

On December 1, 2025, Altimmune announced a CEO transition plan where Vipin K. Garg, Ph.D., will step down as President and CEO effective January 1, 2026, with Jerome Durso taking over the role. Dr. Garg will remain as an advisor until June 30, 2026, to ensure a smooth transition. Under Dr. Garg’s leadership since 2018, Altimmune advanced its lead candidate, pemvidutide, to a Phase 3 ready program for MASH. The transition is expected to continue the company’s growth and focus on pemvidutide’s potential benefits for liver disease patients.

Altimmune Enters New Equity Distribution Agreement

On November 6, 2025, Altimmune, Inc. entered into a new Equity Distribution Agreement with Leerink Partners LLC for an at-the-market offering program, allowing the company to sell up to $200 million in common stock. This agreement follows the termination of a previous agreement from February 2025, which had a $150 million cap, and highlights Altimmune’s strategic move to potentially increase its capital through a more flexible sales arrangement, impacting its financial operations and stakeholder interests.

Altimmune Amends Loan Agreement with Hercules Capital

On November 5, 2025, Altimmune, Inc. amended its Loan and Security Agreement with Hercules Capital, increasing the available term loan from $100 million to $125 million, with an extended interest-only period. The company also announced financial results for Q3 2025, highlighting a cash position of $211 million and a net loss of $19 million. Altimmune is advancing its pemvidutide program for MASH, AUD, and ALD, with significant milestones expected by year-end, including an End-of-Phase 2 meeting with the FDA and the release of 48-week data from the IMPACT trial. The company has strengthened its executive team with key appointments and completed patient enrollment in the RECLAIM trial ahead of schedule.

Altimmune Appoints New Chief Medical Officer

Altimmune, Inc. announced a leadership transition as Dr. Scott Harris, the former Chief Medical Officer, will retire on February 28, 2026. Christophe Arbet-Engels has been appointed as the new Chief Medical Officer, effective October 1, 2025. Dr. Harris will remain with the company as a Senior Strategic Advisor until his retirement, assisting in the transition of duties and continuing to receive his salary, benefits, and other compensations during this period.

Altimmune Holds Annual Stockholders Meeting on Governance

On September 25, 2025, Altimmune, Inc. held its 2025 Annual Meeting of Stockholders, where 58.6% of the company’s shares were represented. The meeting included elections for directors, ratification of Ernst & Young LLP as the independent accounting firm, an advisory vote on executive compensation, and a vote to authorize adjournment to solicit additional proxies. The results showed varying levels of support for directors and proposals, reflecting shareholder engagement and decision-making in corporate governance.