Altimmune (NASDAQ:ALT) shares are down during Thursday’s premarket session following the announcement of a $225 million public offering of securities.
The stock’s decline comes as the company aims to fund its upcoming Phase 3 trial for its lead candidate, pemvidutide, which targets serious liver diseases.
What Happened?
The late clinical-stage biopharmaceutical company announced the pricing of its underwritten public offering, which includes 64,250,000 shares of common stock and accompanying warrants.
The offering is expected to close on April 24, 2026, and the proceeds will be used for working capital and general corporate purposes.
In January 2026, the company completed a registered direct offering of common stock and pre-funded warrants with Alyeska Investment Group, resulting in gross proceeds of $75 million, and raised an additional $8 million via the At-the-Market (ATM) facility.
As of February 28, 2026, Altimmune had approximately $340 million of cash and cash equivalents.
The broader market saw losses on Wednesday, with the Nasdaq falling by 0.33%. Altimmune’s decline occurred as the Healthcare sector remained flat, indicating that company-specific factors may be influencing the stock’s movement.
Technical Analysis
Altimmune is currently trading near the lower end of its 52-week range, which has a high of $7.73 and a low of $2.87. The stock is trading 10.3% below its 20-day simple moving average (SMA) and 30.1% below its 100-day SMA, suggesting bearish short-term and intermediate trends.
The relative strength index (RSI) is at 49.84, indicating neutral momentum. This positioning suggests that the stock is neither overbought nor oversold, leaving room for potential movement in either direction.
- Key Resistance: $3.50 — A level where previous rallies have stalled.
- Key Support: N/A — No clear support level identified at this time.
The stock has experienced a 12-month return of -30.18%, reflecting a significant decline over the past year. This performance indicates ongoing challenges for the company as it navigates its development pipeline and market conditions.
Earnings & Analyst Outlook
Looking further out, the next major catalyst for the stock arrives with the May 12, 2026 (estimated) earnings report.
- EPS Estimate: Loss of 25 cents (Up from Loss of 26 cents)
Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $17.33. Recent analyst moves include:
- HC Wainwright & Co.: Buy (Raises Target to $25.00) (March 16)
- B. Riley Securities: Buy (Lowers Target to $13.00) (March 6)
- Citizens: Market Outperform (Lowers Target to $14.00) (November 7, 2025)
Benzinga Edge Rankings
Below is the Benzinga Edge scorecard for Altimmune, highlighting its strengths and weaknesses compared to the broader market:
- Momentum: 7.51 — The stock is showing moderate momentum relative to the market.
The Verdict: Altimmune’s Benzinga Edge signal reveals a momentum-driven story, but the stock’s overall performance remains challenged as it navigates funding and trial developments. Investors should watch for upcoming earnings and trial results to gauge future direction.
ALT Price Action: Altimmune shares were down 10.66% at $3.10 at the time of publication on Thursday. The stock is near its 52-week low of $2.87, according to Benzinga Pro data.
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