NasdaqGM:ALT

Stock Analysis Report

Executive Summary

Altimmune, Inc., a clinical stage immunotherapeutic biotechnology company, discovers and develops immunotherapies and vaccines to address the unmet medical needs.

Rewards

Revenue is forecast to grow 16.9% per year

Risk Analysis

Shareholders have been substantially diluted in the past year

Currently unprofitable and not forecast to become profitable over the next 3 years

Does not have a meaningful market cap ($27M)



Snowflake Analysis

Excellent balance sheet and overvalued.


Similar Companies

Share Price & News

How has Altimmune's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: ALT has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

3.4%

ALT

0.9%

US Biotechs

2.0%

US Market


1 Year Return

-36.8%

ALT

11.3%

US Biotechs

23.6%

US Market

Return vs Industry: ALT underperformed the US Biotechs industry which returned 10.9% over the past year.

Return vs Market: ALT underperformed the US Market which returned 24.7% over the past year.


Shareholder returns

ALTIndustryMarket
7 Day3.4%0.9%2.0%
30 Day4.5%0.7%3.9%
90 Day-8.5%20.6%12.0%
1 Year-36.8%-36.8%12.3%11.3%26.2%23.6%
3 Yearn/a28.9%24.6%53.2%43.3%
5 Yearn/a4.3%-0.6%75.7%56.3%

Price Volatility Vs. Market

How volatile is Altimmune's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Altimmune undervalued compared to its fair value and its price relative to the market?

0.56x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate ALT's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate ALT's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: ALT is unprofitable, so we can't compare its PE Ratio to the Biotechs industry average.

PE vs Market: ALT is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate ALT's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: ALT is good value based on its PB Ratio (0.5x) compared to the US Biotechs industry average (3.2x).


Next Steps

Future Growth

How is Altimmune forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

75.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ALT is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: ALT is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: ALT is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: ALT's revenue (16.9% per year) is forecast to grow faster than the US market (7.5% per year).

High Growth Revenue: ALT's revenue (16.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if ALT's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Altimmune performed over the past 5 years?

-35.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ALT is currently unprofitable.

Growing Profit Margin: ALT is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: ALT is unprofitable, and losses have increased over the past 5 years at a rate of -35.2% per year.

Accelerating Growth: Unable to compare ALT's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: ALT is unprofitable, making it difficult to compare its past year earnings growth to the Biotechs industry (103.3%).


Return on Equity

High ROE: ALT has a negative Return on Equity (-82.88%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Altimmune's financial position?


Financial Position Analysis

Short Term Liabilities: ALT's short term assets ($41.6M) exceed its short term liabilities ($2.5M).

Long Term Liabilities: ALT's short term assets ($41.6M) exceed its long term liabilities ($4.5M).


Debt to Equity History and Analysis

Debt Level: ALT's debt to equity ratio (0.2%) is considered satisfactory.

Reducing Debt: Insufficient data to determine if ALT's debt to equity ratio has reduced over the past 5 years.


Balance Sheet

Inventory Level: ALT has a low level of unsold assets or inventory.

Debt Coverage by Assets: ALT's debt is covered by short term assets (assets are 396.2x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: ALT has sufficient cash runway for more than 3 years based on its current free cash flow.

Forecast Cash Runway: ALT has sufficient cash runway for 2.3 years if free cash flow continues to reduce at historical rates of -4.6% each year.


Next Steps

Dividend

What is Altimmune's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%1.4%markettop25%3.7%industryaverage2.1%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate ALT's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate ALT's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if ALT's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if ALT's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of ALT's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

What is the CEO of Altimmune's salary, the management and board of directors tenure and is there insider trading?

1.5yrs

Average management tenure


CEO

Vipin Garg (61yo)

1.2yrs

Tenure

US$2,189,964

Compensation

Dr. Vipin K. Garg, Ph.D. has been President, Chief Executive Officer and Director of Altimmune, Inc. since November 30, 2018. Dr. Garg served as Advisor of Neos Therapeutics, Inc. since June 27, 2018 until ...


CEO Compensation Analysis

Compensation vs Market: Vipin's total compensation ($USD2.19M) is above average for companies of similar size in the US market ($USD519.76K).

Compensation vs Earnings: Insufficient data to compare Vipin's compensation with company performance.


Management Age and Tenure

1.5yrs

Average Tenure

60.5yo

Average Age

Experienced Management: ALT's management team is not considered experienced ( 1.5 years average tenure), which suggests a new team.


Board Age and Tenure

2.7yrs

Average Tenure

69yo

Average Age

Experienced Board: ALT's board of directors are not considered experienced ( 2.7 years average tenure), which suggests a new board.


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyUS$42,00005 Sep 19
Vipin Garg
EntityIndividual
Role
Chief Executive Officer
President
Shares20,000
Max PriceUS$2.10

Ownership Breakdown

Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 1198.8%.


Management Team

  • Mitch Sayare (71yo)

    Executive Chairman

    • Tenure: 2yrs
    • Compensation: US$189.62k
  • Vipin Garg (61yo)

    President

    • Tenure: 1.2yrs
    • Compensation: US$2.19m
  • M. Harris (66yo)

    Chief Medical Officer

    • Tenure: 0.3yrs
  • Bertrand Georges

    Chief Technology Officer

    • Tenure: 2.7yrs
  • M. Roberts (60yo)

    Chief Scientific Officer

    • Tenure: 7.1yrs
    • Compensation: US$290.39k
  • Sybil Tasker (56yo)

    Consultant

    • Tenure: 0.6yrs
    • Compensation: US$546.33k
  • José Ochoa

    Chief Business Officer

    • Tenure: 1.5yrs
  • Will Brown (37yo)

    CFO & Principal Accounting Officer

    • Tenure: 1.7yrs
    • Compensation: US$216.00k

Board Members

  • Mitch Sayare (71yo)

    Executive Chairman

    • Tenure: 2yrs
    • Compensation: US$189.62k
  • John Gill (67yo)

    Director

    • Tenure: 15.4yrs
    • Compensation: US$42.50k
  • David Drutz (80yo)

    Independent Director

    • Tenure: 2.7yrs
    • Compensation: US$54.50k
  • Vipin Garg (61yo)

    President

    • Tenure: 1.2yrs
    • Compensation: US$2.19m
  • Philip Hodges (50yo)

    Independent Director

    • Tenure: 2.7yrs
    • Compensation: US$59.94k
  • John Petricciani (83yo)

    Member of Scientific Advisory Board

    • Rich Whitley (73yo)

      Member of Scientific Advisory Board

      • Klaus Schafer (69yo)

        Independent Director

        • Tenure: 7.5yrs
        • Compensation: US$47.67k
      • Wayne Pisano (64yo)

        Independent Director

        • Tenure: 1.4yrs
        • Compensation: US$18.33k

      Company Information

      Altimmune, Inc.'s company bio, employee growth, exchange listings and data sources


      Key Information

      • Name: Altimmune, Inc.
      • Ticker: ALT
      • Exchange: NasdaqGM
      • Founded:
      • Industry: Biotechnology
      • Sector: Pharmaceuticals & Biotech
      • Market Cap: US$27.627m
      • Shares outstanding: 15.01m
      • Website: https://altimmune.com

      Number of Employees


      Location

      • Altimmune, Inc.
      • 910 Clopper Road
      • Suite 201S
      • Gaithersburg
      • Maryland
      • 20878
      • United States

      Listings

      TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
      ALTNasdaqGM (Nasdaq Global Market)YesCommon SharesUSUSDMay 2017
      3G0DB (Deutsche Boerse AG)YesCommon SharesDEEURMay 2017

      Biography

      Altimmune, Inc., a clinical stage immunotherapeutic biotechnology company, discovers and develops immunotherapies and vaccines to address the unmet medical needs. The company develops HepTcell, an immunotherapeutic product candidate for patients chronically infected with the hepatitis B virus that completed the Phase I clinical trial; NasoVAX, an intranasally administered recombinant influenza vaccine that completed Phase 2a clinical trials; and NasoShield, an anthrax vaccine for protection after a single intranasal administration that is in Phase I clinical trial. Its preclinical stage products include ALT-702, a tumor immunostimulant product candidate for treating cancer; and ALT-801, a potent GLP-1/Glucagon receptor co-agonist for the treatment of non-alcoholic steatohepatitis. The company also develops veterinary product candidates. Altimmune, Inc. is headquartered in Gaithersburg, Maryland. 


      Company Analysis and Financial Data Status

      All financial data provided by Standard & Poor's Capital IQ.
      DataLast Updated (UTC time)
      Company Analysis2020/01/20 00:35
      End of Day Share Price2020/01/17 00:00
      Earnings2019/09/30
      Annual Earnings2018/12/31


      Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.