Altimmune, Inc.
| Company Name | Altimmune, Inc. |
| Stock Symbol | ALT |
On February 13, 2024, Kerrisdale Capital published a report alleging, among other things, that “a deeper examination of Altimmune’s data reveals a drug with little chance of competing against either the approved incumbents or the other GLP-1 agonists progressing through clinical trials.” The report further stated that Altimmune’s weight loss drug was “not good enough” to compete with Ozempic or Mounjaro, which have “demonstrated superior weight-loss on a comparable basis, with the added benefit of controlling blood-sugar (which pemvidutide does not).”
On this news, Altimmune’s stock price fell $1.94, or 18.7%, to close at $8.46 per share on February 13, 2024, thereby injuring investors.
Then, on April 29, 2024, Bloomberg reported that Guggenheim Securities had downgraded Altimmune’s stock to neutral from buy, stating that that the opportunity to successfully fund pemvidutide’s future as a treatment for obesity through a strategic partnership was “growing increasingly tenuous.”
On this news, Altimmune’s stock price fell $0.87, or 12%, to close at $6.39 per share on April 29, 2024, thereby injuring investors further.
Submit Your Information
If you suffered a loss on your Altimmune, Inc. investments or would like to inquire about joining an action to recover your loss under the federal securities laws, please complete the form below. Please note that submission of this form does not by itself form an attorney-client relationship nor does filing out this form mean you have joined any lawsuit.