Alumis (NASDAQ:ALMS) Trading Down 5.8% – What’s Next?

Alumis Inc. (NASDAQ:ALMS) fell 5.8% on Monday . The stock traded as low as $23.90 and last traded at $23.6190. 331,291 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 3,179,234 shares. The stock had previously closed at $25.06.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ALMS shares. Leerink Partners increased their target price on shares of Alumis from $20.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 6th. Guggenheim lifted their price target on shares of Alumis from $18.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, January 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Alumis in a research report on Monday, December 29th. UBS Group reissued an “outperform” rating on shares of Alumis in a research note on Tuesday, January 6th. Finally, Wells Fargo & Company lifted their target price on shares of Alumis from $17.00 to $39.00 and gave the company an “overweight” rating in a report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Alumis currently has a consensus rating of “Moderate Buy” and an average target price of $39.60.

Alumis Stock Performance

The firm has a fifty day moving average of $26.43 and a 200 day moving average of $13.85. The firm has a market capitalization of $2.48 billion, a PE ratio of -7.79 and a beta of -2.16.

Alumis (NASDAQ:ALMS) last issued its quarterly earnings data on Thursday, March 19th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.90) by ($0.05). The firm had revenue of $1.93 million during the quarter, compared to analyst estimates of $2.75 million. Alumis had a negative net margin of 1,011.75% and a negative return on equity of 116.97%. Research analysts forecast that Alumis Inc. will post -8.51 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Foresite Labs, Llc purchased 411,764 shares of the company’s stock in a transaction that occurred on 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 purchase, the insider 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James B. Tananbaum acquired 411,764 shares of the business’s stock in a transaction on Thursday, January 8th. The stock was purchased at an average price of $17.00 per share, for a total transaction of $6,999,988.00. Following the acquisition, the director directly owned 5,702,536 shares in the company, valued at $96,943,112. This represents a 7.78% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 1,823,527 shares of company stock valued at $30,999,959 over the last ninety days. 40.70% of the stock is owned by company insiders.

Institutional Trading of Alumis

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Alumis by 26.1% in 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 during the last quarter. Russell Investments Group Ltd. increased its holdings in Alumis by 320.9% during the 3rd 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 last quarter. CWM LLC increased its holdings in Alumis by 1,028.7% during the 3rd quarter. CWM LLC now owns 10,384 shares of the company’s stock worth $41,000 after purchasing an additional 9,464 shares during the last quarter. Police & Firemen s Retirement System of New Jersey raised its position in shares of Alumis by 199.7% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 10,753 shares of the company’s stock valued at $32,000 after purchasing an additional 7,165 shares in the last quarter. Finally, New York State Common Retirement Fund raised its position 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 valued at $35,000 after purchasing an additional 7,467 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.