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Altimmune
(NASDAQ:ALT)
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Rating:52Neutral
Price Target:
$3.00
▼(-14.29% Downside)
Action:Reiterated
Date:06/17/26
Overall score reflects a strong funding/late-stage development setup from the latest earnings call and a solid, debt-free balance sheet, but it is held back by heavy ongoing losses and cash burn plus weak technical momentum and limited valuation support due to negative earnings and no dividend.
Positive Factors
Balance Sheet Strength
A debt-free balance sheet with roughly $284M of equity and ~$336M in assets provides durable financial flexibility for a clinical‑stage biotech. This reduces refinancing risk, supports multi-year R&D spending and increases ability to withstand trial delays without immediate dilution.
Negative Factors
Persistent Cash Burn
Sustained negative operating and free cash flow (~-$72M TTM) and large net losses (~-$91M TTM) create structural funding needs if timelines extend or costs rise. Ongoing burn necessitates capital markets access and raises dilution risk absent eventual product revenues or material non‑dilutive partnerships.
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Positive Factors
Negative Factors
Balance Sheet Strength
A debt-free balance sheet with roughly $284M of equity and ~$336M in assets provides durable financial flexibility for a clinical‑stage biotech. This reduces refinancing risk, supports multi-year R&D spending and increases ability to withstand trial delays without immediate dilution.
Read all positive factors
Altimmune (ALT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$614.54M
Dividend YieldN/A
Average Volume (3M)3.16M
Price to Earnings (P/E)―
Beta (1Y)1.67
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. Volume3,891,686
30 Day Avg. Volume3,164,085
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 Cap0.28
Enterprise Value/Revenue4.76K
Enterprise Value/Gross Profit-11.46
Enterprise Value/Ebitda-1.94
Forecast
1Y Price Target
$12.70Price Target Upside262.86% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)-0.68
Revenue Forecast (FY)$7.00K
Altimmune Business Overview & Revenue Model
Company Description
Altimmune, Inc. is a clinical-stage biopharmaceutical company focused on pioneering treatments for obesity and various liver diseases. Its primary investigational drug, pemvidutide (proposed INN, previously known as ALT-801), operates as a GLP-1/g...
How the Company Makes Money
As a clinical-stage biopharmaceutical company, Altimmune’s primary potential path to monetization is the successful development and eventual commercialization of its drug candidates; however, to the extent of publicly available information at a hi...
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 | -88.27M | -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 | -71.67M | -67.55M | -79.85M | -75.86M | -62.71M | -90.55M |
| Operating Cash Flow | -71.64M | -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 | 251.20M | 206.84M | 10.04M | 86.11M | 56.78M | 65.10M |
Altimmune Technical Analysis
Positive
3.50
Price Trends
2.89
Positive
3.33
Negative
3.86
Negative
Market Momentum
0.05
Negative
64.33
Neutral
69.89
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 3.5 is above the 20-day moving average (MA) of 2.81, above the 50-day MA of 2.89, and below the 200-day MA of 3.86, indicating a neutral trend. The MACD of 0.05 indicates Negative momentum. The RSI at 64.33 is Neutral, neither overbought nor oversold. The STOCH value of 69.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
55 Neutral | $410.59M | -10.73 | -77.09% | ― | ― | -9.22% | |
52 Neutral | $614.54M | -3.40 | -42.57% | ― | 80.00% | 25.18% | |
52 Neutral | $1.16B | -19.75 | -73.23% | ― | ― | -42.64% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
46 Neutral | $368.27M | -3.23 | -47.48% | ― | ― | 56.00% | |
45 Neutral | $119.24M | -1.35 | -29.34% | ― | ― | -32.34% | |
44 Neutral | $18.95M | -1.27 | -64.17% | ― | -100.00% | 94.65% |
* Healthcare Sector Average
ALT
Altimmune
3.16
-1.60
-33.61%
TVRD
Tvardi Therapeutics
2.02
-20.44
-91.01%
DMAC
Diamedica Therapeutics
7.62
3.99
109.92%
DRTS
Alpha Tau Medical Ltd
13.23
9.94
302.13%
ENGN
enGene Holdings
1.78
-2.03
-53.28%
LXEO
Lexeo Therapeutics, Inc.
4.69
0.15
3.30%
Altimmune Corporate Events
Business Operations and Strategy
Altimmune Relocates Corporate Headquarters to Morristown, New Jersey
Positive
Jun 16, 2026
On June 16, 2026, Altimmune, Inc. announced it will relocate its corporate headquarters from Gaithersburg, Maryland to Morristown, New Jersey later this year, entering into a five-year office lease with annual rent of about $300,000. The move plac...
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.