Wall Street Zen Downgrades Alumis (NASDAQ:ALMS) to Strong Sell

Alumis (NASDAQ:ALMS) was downgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a note issued to investors on Saturday.

A number of other equities research analysts have also commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alumis in a research report on Tuesday, July 7th. Wells Fargo & Company boosted their price objective on Alumis from $49.00 to $51.00 and gave the company an “overweight” rating in a research report on Friday, May 15th. Citigroup reissued a “buy” rating on shares of Alumis in a research note on Tuesday, May 19th. Guggenheim raised their target price on shares of Alumis from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $39.00 price target on shares of Alumis in a research note on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $40.30.

Alumis Price Performance

ALMS opened at $25.31 on Friday. The stock has a market cap of $3.23 billion, a P/E ratio of -6.56 and a beta of -0.69. Alumis has a 12 month low of $3.76 and a 12 month high of $31.35. The company has a fifty day simple moving average of $26.19 and a 200 day simple moving average of $25.26.

Alumis (NASDAQ:ALMS) last posted its earnings results on Thursday, August 13th. The company reported ($1.11) earnings per share for the quarter, missing the consensus estimate of ($0.77) by ($0.34). Alumis had a negative return on equity of 93.15% and a negative net margin of 5,933.46%.The business had revenue of $1.66 million for the quarter, compared to the consensus estimate of $3.65 million. On average, equities research analysts expect that Alumis will post -2.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Alumis news, insider Sanam Pangali sold 5,000 shares of the business’s stock in a transaction dated 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 directly owned 11,111 shares of the company’s stock, valued at $311,108. The trade was a 31.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Mark Christopher Bradley sold 2,572 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $26.37, for a total transaction of $67,823.64. Following the transaction, the insider owned 48,533 shares of the company’s stock, valued at approximately $1,279,815.21. This represents a 5.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 19,953 shares of company stock valued at $534,311 in the last quarter. Company insiders own 33.70% of the company’s stock.

Institutional Trading of Alumis

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in Alumis during the second quarter valued at approximately $231,259,000. MPM Bioimpact LLC acquired a new position in shares of Alumis during the 4th quarter worth approximately $23,443,000. Jupiter Topco LLC acquired a new position in shares of Alumis during the 2nd quarter worth approximately $66,238,000. Janus Henderson Group PLC bought a new stake in shares of Alumis during the 1st quarter worth approximately $46,790,000. Finally, Orbimed Advisors LLC bought a new stake in shares of Alumis during the 2nd quarter worth approximately $5,779,000.

Alumis Company Profile

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.