Alumis Inc. (NASDAQ:ALMS) Receives $40.30 Average Price Target from Brokerages

Alumis Inc. (NASDAQ:ALMS) has earned an average recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $40.30.

A number of research firms recently issued reports on ALMS. Morgan Stanley reiterated an “overweight” rating and set a $39.00 price objective on shares of Alumis in a research note on Friday, May 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Alumis in a research note on Tuesday. Wells Fargo & Company lifted their target price on Alumis from $49.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, May 15th. Chardan Capital upped their price target on Alumis from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, May 19th. Finally, Wall Street Zen downgraded shares of Alumis from a “hold” rating to a “sell” rating in a report on Saturday, May 16th.

Insiders Place Their Bets

In related news, insider Sanam Pangali sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $28.00, for a total transaction of $140,000.00. Following the sale, the insider owned 11,111 shares of the company’s stock, valued at approximately $311,108. This represents a 31.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 33.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. increased its holdings in shares of Alumis by 320.9% in the third quarter. Russell Investments Group Ltd. now owns 6,419 shares of the company’s stock worth $26,000 after purchasing an additional 4,894 shares during the period. New York State Common Retirement Fund boosted its stake in Alumis by 173.7% during the second quarter. New York State Common Retirement Fund now owns 11,767 shares of the company’s stock valued at $35,000 after buying an additional 7,467 shares during the period. KBC Group NV purchased a new position in Alumis during the first quarter worth about $42,000. Strs Ohio grew its position in Alumis by 300.0% during the first quarter. Strs Ohio now owns 2,000 shares of the company’s stock worth $44,000 after buying an additional 1,500 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Alumis by 26.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,724 shares of the company’s stock worth $46,000 after buying an additional 979 shares in the last quarter.

Alumis Trading Down 6.6%

Shares of NASDAQ ALMS traded down $1.99 during midday trading on Friday, hitting $28.31. The company’s stock had a trading volume of 917,066 shares, compared to its average volume of 1,764,370. The firm has a market capitalization of $3.61 billion, a price-to-earnings ratio of -14.30 and a beta of -0.73. The stock has a fifty day moving average price of $23.71 and a 200 day moving average price of $23.48. Alumis has a one year low of $3.24 and a one year high of $31.35.

Alumis (NASDAQ:ALMS) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.01). The business had revenue of $1.74 million during the quarter, compared to analysts’ expectations of $2.10 million. Alumis had a negative net margin of 2,825.70% and a negative return on equity of 88.79%. On average, equities research analysts predict that Alumis will post -2.87 earnings per share for the current fiscal year.

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.