Alumis (NASDAQ:ALMS) Issues Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Alumis (NASDAQ:ALMS) announced its earnings results on Thursday. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.04), FiscalAI reports. The firm had revenue of $1.93 million for the quarter, compared to the consensus estimate of $2.75 million.

Alumis Stock Performance

Shares of Alumis stock traded down $0.04 on Thursday, reaching $25.38. 716,662 shares of the company’s stock were exchanged, compared to its average volume of 3,217,773. The company has a market capitalization of $2.65 billion, a P/E ratio of -6.27 and a beta of -2.15. Alumis has a 52 week low of $2.76 and a 52 week high of $30.60. The firm’s 50-day moving average is $26.32 and its two-hundred day moving average is $13.58.

Analyst Ratings Changes

ALMS has been the subject of several recent research reports. Leerink Partners boosted their price target on Alumis from $20.00 to $32.00 and gave the company an “outperform” rating in a research note on Tuesday, January 6th. Wall Street Zen raised shares of Alumis from a “sell” rating to a “hold” rating in a research note on Saturday, December 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Alumis in a research report on Monday, December 29th. Raymond James Financial initiated coverage on shares of Alumis in a report on Tuesday, March 10th. They set a “strong-buy” rating and a $46.00 price target for the company. Finally, Guggenheim raised their price objective on shares of Alumis from $18.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, January 7th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $39.00.

Insider Activity at Alumis

In other news, Director James B. Tananbaum bought 411,764 shares of the firm’s stock in a transaction that occurred on Thursday, January 8th. The stock was acquired at an average cost of $17.00 per share, with a total value of $6,999,988.00. Following the transaction, the director directly owned 5,702,536 shares of the company’s stock, valued at approximately $96,943,112. This represents a 7.78% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Foresite Capital Management Vi acquired 411,764 shares of the firm’s stock in a transaction dated Thursday, January 8th. The shares were purchased at an average price of $17.00 per share, with a total value of $6,999,988.00. Following the acquisition, the insider owned 5,702,536 shares of the company’s stock, valued at approximately $96,943,112. This represents a 7.78% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased 1,823,527 shares of company stock worth $30,999,959 over the last quarter. Company insiders own 40.70% of the company’s stock.

Institutional Investors Weigh In On Alumis

Several institutional investors have recently bought and sold shares of the stock. Samsara Biocapital LLC grew its stake in shares of Alumis by 19.9% in the 4th quarter. Samsara Biocapital LLC now owns 5,756,984 shares of the company’s stock worth $56,188,000 after acquiring an additional 955,614 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Alumis by 18.4% during the third quarter. Vanguard Group Inc. now owns 4,029,615 shares of the company’s stock valued at $16,078,000 after purchasing an additional 625,404 shares in the last quarter. MPM Bioimpact LLC bought a new position in shares of Alumis during the fourth quarter valued at about $23,443,000. Orbimed Advisors LLC bought a new stake in Alumis in the 2nd quarter worth about $5,779,000. Finally, Woodline Partners LP lifted its position in shares of Alumis by 809.7% during the 3rd quarter. Woodline Partners LP now owns 1,751,150 shares of the company’s stock worth $6,987,000 after buying an additional 1,558,660 shares in the last quarter.

About Alumis

Our mission is to significantly improve the lives of patients by replacing broad immunosuppression with targeted therapies. Our name, Alumis, captures our mission to enlighten immunology, and is inspired by the words “allumer”-French for illuminate-and “immunis”-Latin for the immune system. We are a clinical stage biopharmaceutical company with an initial focus on developing our two Tyrosine Kinase 2 (TYK2) inhibitors: ESK-001, a second-generation inhibitor that we are developing to maximize target inhibition and optimize tolerability, and A-005, a central nervous system (CNS) penetrant molecule.