Alumis (NASDAQ:ALMS) Issues Earnings Results, Beats Estimates By $0.05 EPS

Alumis (NASDAQ:ALMS) released its quarterly earnings results on Wednesday. The company reported ($0.74) earnings per share for the quarter, beating the consensus estimate of ($0.79) by $0.05, FiscalAI reports. Alumis had a negative return on equity of 116.97% and a negative net margin of 1,011.75%.The business had revenue of $1.74 million during the quarter, compared to analysts’ expectations of $2.49 million.

Alumis Price Performance

NASDAQ:ALMS opened at $24.63 on Friday. The firm has a market capitalization of $3.13 billion, a price-to-earnings ratio of -8.05 and a beta of -0.31. The business has a 50 day simple moving average of $24.56 and a 200-day simple moving average of $18.95. Alumis has a 1 year low of $2.76 and a 1 year high of $30.60.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Chardan Capital reaffirmed a “buy” rating and set a $38.00 price objective on shares of Alumis in a report on Monday, March 30th. Loop Capital set a $37.00 target price on shares of Alumis in a report on Wednesday, January 21st. Morgan Stanley boosted their price target on shares of Alumis from $33.00 to $38.00 and gave the stock an “overweight” rating in a research report on Friday, March 20th. Raymond James Financial initiated coverage on shares of Alumis in a research report on Tuesday, March 10th. They set a “strong-buy” rating and a $46.00 price objective for the company. Finally, Oppenheimer lifted their price objective on shares of Alumis from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Monday, March 30th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.60.

Institutional Trading of Alumis

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. lifted its position in 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 buying an additional 4,894 shares during the last quarter. New York State Common Retirement Fund increased its position 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 acquiring an additional 7,467 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of Alumis by 104.9% in the third quarter. BNP Paribas Financial Markets now owns 11,770 shares of the company’s stock valued at $47,000 after acquiring an additional 6,027 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Alumis by 64.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,535 shares of the company’s stock valued at $77,000 after acquiring an additional 4,926 shares during the period. Finally, Banco BTG Pactual S.A. bought a new stake in shares of Alumis in the 4th quarter worth about $140,000.

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.