Altimmune (NASDAQ:ALT) Issues Earnings Results, Misses Expectations By $0.02 EPS

Altimmune (NASDAQ:ALT) released its quarterly earnings data on Thursday. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.02), reports. The business had revenue of $0.03 million for the quarter, compared to analysts’ expectations of $0.00 million. Altimmune had a negative net margin of 214,860.98% and a negative return on equity of 54.03%.

Here are the key takeaways from Altimmune’s conference call:

• Strong Phase 2 results — pemvidutide showed early MASH resolution at 24 weeks and clear anti‑fibrotic activity with meaningful NIT, ALT and weight improvements at 48 weeks, supporting selection of 1.8 mg and evaluation of 2.4 mg for Phase 3.
• Regulatory progress — the FDA granted Breakthrough Therapy and End‑of‑Phase‑2 minutes confirmed alignment on a pivotal global Phase 3 (≈1,800 patients, biopsy and NIT cohorts) with dual primary endpoints designed to support Accelerated Approval.
• Phase 3 operational readiness — the company says overall design, dosing (1.2 mg start with one‑ or two‑step titration) and global site plans are defined, but final protocol details, biopsy reading approach and exact timelines remain being finalized.
• Near‑term catalysts — top‑line data from the AUD (RECLAIM) Phase 2 are expected in Q3 2026 and ALD Phase 2 enrollment should complete in 2026, offering potential label expansion but with outcome uncertainty.
• Financial and execution risk — Q4 net loss widened and OpEx will increase as Phase 3 approaches; management reports pro forma cash of roughly $340M (runway into 2028) but expects to access additional capital, implying potential dilution or financing risk.

Altimmune Trading Up 0.9%

Altimmune stock opened at $3.54 on Friday. The stock has a market cap of $399.42 million, a P/E ratio of -3.50 and a beta of 0.13. Altimmune has a fifty-two week low of $2.90 and a fifty-two week high of $7.73. The firm’s fifty day moving average price is $4.48 and its 200-day moving average price is $4.28. The company has a debt-to-equity ratio of 0.08, a quick ratio of 17.18 and a current ratio of 17.18.

Altimmune News Roundup

Here are the key news stories impacting Altimmune this week:

• Positive Sentiment: Company advanced pemvidutide development — management reiterated plans to initiate a Phase 3 MASH trial in 2026, pemvidutide received FDA Breakthrough Therapy designation for MASH, and RECLAIM Phase 2 topline data in AUD is expected in 3Q 2026. Altimmune Announces Fourth Quarter and Full-year 2025 Financial Results and Business Updates
• Positive Sentiment: Balance sheet strengthened — company reported about $274M in cash, cash equivalents and short-term investments at year-end and completed a $75M registered direct offering in January, supporting clinical programs and runway. Altimmune Announces Fourth Quarter and Full-year 2025 Financial Results and Business Updates
• Positive Sentiment: Company outlined a large, 1,800‑patient Phase III MASH design and signaled cash runway into 2028 as pemvidutide advances — this reduces near-term execution risk for the lead program. Altimmune outlines 1,800-patient Phase III MASH trial and signals cash runway into 2028
• Neutral Sentiment: B. Riley cut its price target from $18 to $13 but kept a Buy rating — the new target still implies meaningful upside vs. current levels, though it reduces analyst enthusiasm relative to prior coverage. Benzinga
• Neutral Sentiment: Earnings call and transcripts are available for review — useful for investors who want management’s commentary on timelines, trial designs and cash runway. Altimmune Q4 2025 Earnings Call Transcript (Seeking Alpha)
• Neutral Sentiment: Reported short-interest notes appear to show anomalous/zero values in public data feeds and are not a reliable signal at this time.
• Negative Sentiment: Q4 earnings missed estimates — EPS of ($0.27) vs. consensus ($0.25) and immaterial GAAP revenue ($0.03M); very large negative margins and negative ROE highlight ongoing R&D spending and lack of commercial revenue. Altimmune stock edges down on fourth quarter earnings miss

Insiders Place Their Bets

In other Altimmune news, Director Jerome Benedict Durso acquired 12,500 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The stock was bought at an average price of $4.13 per share, with a total value of $51,625.00. Following the completion of the purchase, the director owned 12,500 shares of the company’s stock, valued at approximately $51,625. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John Gill bought 12,500 shares of Altimmune stock in a transaction that occurred on Tuesday, December 23rd. The shares were acquired at an average price of $4.10 per share, with a total value of $51,250.00. Following the completion of the transaction, the director owned 12,500 shares of the company’s stock, valued at $51,250. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 30,527 shares of company stock worth $125,278 in the last quarter. 4.40% of the stock is currently owned by company insiders.

Institutional Trading of Altimmune

Large investors have recently modified their holdings of the business. Virtu Financial LLC increased its position in shares of Altimmune by 21.7% in the fourth quarter. Virtu Financial LLC now owns 58,477 shares of the company’s stock worth $211,000 after purchasing an additional 10,409 shares during the last quarter. Invesco Ltd. lifted its position in Altimmune by 32.7% during the fourth quarter. Invesco Ltd. now owns 214,824 shares of the company’s stock valued at $776,000 after purchasing an additional 52,881 shares during the last quarter. Vines Capital Management LLC bought a new stake in Altimmune during the fourth quarter valued at approximately $65,000. Virtus Investment Advisers LLC grew its stake in Altimmune by 217.2% in the 4th quarter. Virtus Investment Advisers LLC now owns 50,482 shares of the company’s stock worth $182,000 after buying an additional 34,568 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new position in Altimmune in the 4th quarter worth approximately $36,000. Institutional investors own 78.05% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Altimmune in a research report on Monday, December 29th. Barclays began coverage on Altimmune in a report on Tuesday, January 27th. They set an “overweight” rating and a $20.00 price objective on the stock. Citigroup reaffirmed a “market outperform” rating on shares of Altimmune in a report on Wednesday, November 12th. William Blair reiterated a “market perform” rating on shares of Altimmune in a research report on Thursday. Finally, B. Riley Financial lowered their price target on shares of Altimmune from $18.00 to $13.00 and set a “buy” rating on the stock in a report on Friday. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $16.60.

About Altimmune

Altimmune, Inc is a clinical-stage biopharmaceutical company headquartered in Gaithersburg, Maryland, dedicated to the development of vaccines and immunotherapeutics. The company leverages proprietary technology platforms to create intranasal vaccine candidates and novel therapies targeting liver diseases and metabolic disorders. Altimmune’s approach emphasizes the stimulation of both systemic and mucosal immune responses to address unmet medical needs in infectious and chronic conditions.

Among its lead programs, NasoVAX is an investigational intranasal influenza vaccine designed to provide broad, long-lasting protection through a single, non-invasive dose.