Alumis (NASDAQ:ALMS) Announces Quarterly Earnings Results

Alumis (NASDAQ:ALMS) posted its earnings results on Thursday. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.73) by ($0.05), Zacks reports. Alumis had a negative return on equity of 88.79% and a negative net margin of 2,825.70%.The firm had revenue of $1.66 million during the quarter, compared to analyst estimates of $3.47 million.

Alumis Stock Performance

Shares of ALMS stock traded down $0.25 during midday trading on Friday, hitting $24.16. 119,008 shares of the company were exchanged, compared to its average volume of 1,978,906. The firm has a market capitalization of $3.08 billion, a P/E ratio of -12.14 and a beta of -0.69. Alumis has a 52 week low of $3.76 and a 52 week high of $31.35. The firm’s 50 day moving average price is $26.06 and its two-hundred day moving average price is $25.27.

Analyst Ratings Changes

Several brokerages recently commented on ALMS. Citigroup reaffirmed a “buy” rating on shares of Alumis in a research note on Tuesday, May 19th. Chardan Capital boosted their price objective on shares of Alumis from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, May 19th. Guggenheim boosted their target price on Alumis from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Wall Street Zen lowered shares of Alumis from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, Morgan Stanley restated an “overweight” rating and set a $39.00 price objective on shares of Alumis in a research note on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Alumis currently has a consensus rating of “Moderate Buy” and an average target price of $40.30.

Insider Buying and Selling

In other news, insider Sanam Pangali sold 5,000 shares of the stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $28.00, for a total transaction of $140,000.00. Following the transaction, the insider owned 11,111 shares in the company, valued at approximately $311,108. This trade represents a 31.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Roy C. Hardiman sold 2,692 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 value of $70,988.04. Following the completion of the sale, the insider owned 207,746 shares of the company’s stock, valued at $5,478,262.02. This trade represents a 1.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 19,953 shares of company stock valued at $534,311 in the last ninety days. 33.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alumis

Several institutional investors and hedge funds have recently modified their holdings of ALMS. Russell Investments Group Ltd. lifted 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 position in shares of Alumis by 173.7% in the second 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 during the period. BNP Paribas Financial Markets raised its stake in 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 purchasing an additional 6,027 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in Alumis during the second quarter worth about $56,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Alumis by 64.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,535 shares of the company’s stock worth $77,000 after buying an additional 4,926 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.