Insider Selling: Alumis (NASDAQ:ALMS) Insider Sells $68,456.52 in Stock

Alumis Inc. (NASDAQ:ALMS) insider David Goldstein sold 2,596 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $26.37, for a total transaction of $68,456.52. Following the transaction, the insider directly owned 30,970 shares of the company’s stock, valued at approximately $816,678.90. This trade represents a 7.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Alumis Stock Down 0.7%

ALMS stock opened at $27.60 on Friday. The stock has a market cap of $3.52 billion, a PE ratio of -13.94 and a beta of -0.69. The firm’s 50-day simple moving average is $25.62 and its 200 day simple moving average is $25.26. Alumis Inc. has a fifty-two week low of $3.76 and a fifty-two week high of $31.35.

Alumis (NASDAQ:ALMS) last posted its earnings results on Thursday, May 14th. The company reported ($0.74) earnings per share (EPS) 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 firm had revenue of $1.74 million for the quarter, compared to analyst estimates of $2.10 million. Equities analysts forecast that Alumis Inc. will post -2.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ALMS. BlackRock Inc. acquired a new position in shares of Alumis during the second quarter valued at approximately $231,259,000. Deutsche Bank AG acquired a new stake in Alumis in the second quarter worth approximately $2,367,000. Bank of New York Mellon Corp acquired a new stake in Alumis in the second quarter worth approximately $6,377,000. State of Wyoming bought a new position in Alumis during the 2nd quarter valued at $189,000. Finally, Handelsbanken Fonder AB bought a new position in Alumis during the 2nd quarter valued at $1,024,000.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ALMS. Wells Fargo & Company boosted their price objective on Alumis from $49.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, May 15th. Citigroup restated a “buy” rating on shares of Alumis in a research report on Tuesday, May 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alumis in a research note on Tuesday, July 7th. Wall Street Zen lowered Alumis from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, Chardan Capital increased their price target on Alumis from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $40.30.

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.