Insider Selling: Alumis (NASDAQ:ALMS) Insider Sells $35,968.68 in Stock

Alumis Inc. (NASDAQ:ALMS) insider Sanam Pangali sold 1,364 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $26.37, for a total transaction of $35,968.68. Following the transaction, the insider owned 9,747 shares in the company, valued at $257,028.39. This represents a 12.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Sanam Pangali also recently made the following trade(s):

• On Monday, July 6th, Sanam Pangali sold 5,000 shares of Alumis stock. The stock was sold at an average price of $28.00, for a total transaction of $140,000.00.

Alumis Stock Down 0.7%

Shares of ALMS stock opened at $27.60 on Friday. The company has a 50 day moving average price of $25.62 and a 200-day moving average price of $25.26. Alumis Inc. has a 52 week low of $3.76 and a 52 week high of $31.35. The firm has a market capitalization of $3.52 billion, a PE ratio of -13.94 and a beta of -0.69.

Alumis (NASDAQ:ALMS) last issued 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). Alumis had a negative net margin of 2,825.70% and a negative return on equity of 88.79%. The company had revenue of $1.74 million for the quarter, compared to the consensus estimate of $2.10 million. Analysts anticipate that Alumis Inc. will post -2.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ALMS. Wall Street Zen cut Alumis from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alumis in a research report on Tuesday, July 7th. Guggenheim increased their target price on Alumis from $32.00 to $34.00 and gave the company a “buy” rating in a report on Friday, May 15th. Morgan Stanley reissued an “overweight” rating and issued a $39.00 target price on shares of Alumis in a research report on Friday, May 15th. Finally, Citigroup restated a “buy” rating on shares of Alumis in a research note on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $40.30.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. grew its position in shares of Alumis by 320.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,419 shares of the company’s stock valued at $26,000 after acquiring an additional 4,894 shares during the period. New York State Common Retirement Fund increased its stake in shares of Alumis by 173.7% in the 2nd quarter. New York State Common Retirement Fund now owns 11,767 shares of the company’s stock worth $35,000 after purchasing an additional 7,467 shares in the last quarter. KBC Group NV bought a new position in Alumis in the 1st quarter worth $42,000. Strs Ohio raised its holdings in Alumis by 300.0% in the 1st quarter. Strs Ohio now owns 2,000 shares of the company’s stock worth $44,000 after purchasing an additional 1,500 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted 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 valued at $46,000 after purchasing an additional 979 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.