Altimmune (NASDAQ:ALT) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Altimmune (NASDAQ:ALT) announced its quarterly earnings results on Wednesday. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.02, FiscalAI reports. Altimmune had a negative net margin of 214,860.98% and a negative return on equity of 42.57%.

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

• PERFORMA Phase III in MASH has begun enrolling across approximately 300 global sites, with management targeting the faster end of an 18–24-month enrollment window. The company expects the 52-week data readout in 2029.
• Pemvidutide produced statistically significant and clinically meaningful results in the RECLAIM Phase II alcohol use disorder trial, reducing heavy drinking days and improving key FDA-recognized measures including WHO risk-level reductions and zero heavy drinking days.
• Altimmune plans to seek an FDA end-of-Phase II meeting for AUD and believes a single global Phase III trial could satisfy U.S. and European requirements. Management is also evaluating inclusion of patients with BMI below 25, lower-dose options, and AUD patients with overlapping alcohol-related liver disease.
• Enrollment is complete in the approximately 120-patient RESTORE trial for alcohol-related liver disease, with top-line results expected in the second half of 2027. The amended analysis will assess liver stiffness at both 48 and 24 weeks to better characterize pemvidutide’s potential liver benefit.
• Altimmune ended June with approximately $519 million in cash, providing a runway through the MASH Phase III 52-week readout, but the balance does not fund a potential AUD Phase III program. The company expects to pursue non-dilutive financing such as partnerships, debt, or royalties rather than relying primarily on additional equity.

Altimmune Trading Up 5.3%

NASDAQ:ALT traded up $0.16 during trading hours on Wednesday, reaching $3.16. 3,143,173 shares of the stock were exchanged, compared to its average volume of 4,343,375. The company has a quick ratio of 29.56, a current ratio of 29.56 and a debt-to-equity ratio of 0.12. The business has a 50-day moving average of $2.90 and a two-hundred day moving average of $3.44. Altimmune has a twelve month low of $2.56 and a twelve month high of $6.44. The company has a market capitalization of $614.54 million, a price-to-earnings ratio of -3.40 and a beta of 0.27.

Institutional Investors Weigh In On Altimmune

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Altimmune by 23.3% during the 3rd quarter. Vanguard Group Inc. now owns 6,373,638 shares of the company’s stock valued at $24,029,000 after acquiring an additional 1,206,514 shares during the period. State Street Corp increased its stake in Altimmune by 42.2% during the fourth quarter. State Street Corp now owns 5,119,703 shares of the company’s stock worth $18,482,000 after purchasing an additional 1,518,448 shares during the period. Geode Capital Management LLC lifted its position in shares of Altimmune by 13.6% during the fourth quarter. Geode Capital Management LLC now owns 2,292,410 shares of the company’s stock worth $8,278,000 after purchasing an additional 275,025 shares in the last quarter. Two Sigma Investments LP lifted its position in shares of Altimmune by 356.6% during the third quarter. Two Sigma Investments LP now owns 1,996,848 shares of the company’s stock worth $7,528,000 after purchasing an additional 1,559,562 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Altimmune by 140.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,349,293 shares of the company’s stock valued at $4,871,000 after purchasing an additional 787,036 shares during the period. Hedge funds and other institutional investors own 78.05% of the company’s stock.

Wall Street Analyst Weigh In

ALT has been the subject of several analyst reports. HC Wainwright reiterated a “buy” rating on shares of Altimmune in a research report on Tuesday, July 28th. Citigroup restated a “market outperform” rating on shares of Altimmune in a research report on Tuesday, June 2nd. Citizens Jmp decreased their price target on Altimmune from $14.00 to $11.00 and set a “market outperform” rating on the stock in a research note on Thursday, May 14th. Leerink Partners started coverage on Altimmune in a report on Monday, June 22nd. They set an “outperform” rating and a $10.00 price target for the company. Finally, Wall Street Zen raised Altimmune from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 27th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $15.71.

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.