5 Most Shorted Penny Stocks to Buy

2. Altimmune Inc. (NASDAQ:ALT)

Altimmune Inc. (NASDAQ:ALT) is one of the 10 most shorted penny stocks to buy.

On March 19, Truist began coverage of Altimmune Inc. (NASDAQ:ALT) with a $12 price target, leading to a whopping 315% upside potential at the prevailing level. The firm also assigned a Buy rating to the stock.

According to Truist, Altimmune’s primary product pemividutide may have a chance to succeed in the treatment of MASH, along with liver-related disorders, such as AUD. Based on its model, Truist estimates peak adjusted or unadjusted revenue at around $600 million-$1 billion with 20,000 patients receiving pemividutide treatment. This makes it one of the most attractive penny stock names with heavy short interest lately.

Back on March 16, H.C. Wainwright also reaffirmed its Buy rating for Altimmune Inc. (NASDAQ:ALT) while substantially increasing its price target from $12 to $25. The firm attributed this to the company’s focus on its upcoming MASH pivotal program, along with the significant short-term gains from focused efforts to combat alcohol-related illnesses.

The firm is currently including the possible commercial worth of pemvidutide for addressing alcohol use disorder and related liver diseases into its foundational financial models. This proactive structural change is strongly backed by a growing collection of positive preclinical and clinical evidence. A significant unmet medical need in the industry is directly addressed by the encouraging liver benefits seen in these ongoing trials.

Altimmune Inc. (NASDAQ:ALT) is focused on the development of innovative peptide-based therapeutics for people suffering from serious illnesses like liver diseases, chronic hepatitis B, NASH, and obesity. Its primary product candidate is pemvidutide, currently in phase 3 of the clinical trial. Additionally, it has completed the MOMENTUM Phase II obesity study and is currently being evaluated in the IMPACT Phase IIb MASH trial.