Alumis (NASDAQ:ALMS) Upgraded at HC Wainwright

HC Wainwright upgraded shares of Alumis (NASDAQ:ALMS) from a neutral rating to a buy rating in a research note published on Wednesday, Marketbeat Ratings reports. The brokerage currently has $15.00 price objective on the stock, down from their prior price objective of $25.00.

A number of other equities analysts have also weighed in on ALMS. Citigroup reiterated an “overweight” rating on shares of Alumis in a research report on Tuesday. Wall Street Zen upgraded shares of Alumis from a “strong sell” rating to a “hold” rating in a research note on Sunday, August 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alumis in a report on Tuesday, July 7th. Robert W. Baird set a $27.00 price objective on shares of Alumis in a research note on Tuesday. Finally, Chardan Capital boosted their target price on shares of Alumis from $38.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $33.27.

Alumis Price Performance

NASDAQ:ALMS opened at $11.10 on Wednesday. The company has a market capitalization of $1.44 billion, a P/E ratio of -2.88 and a beta of -0.81. The business has a fifty day simple moving average of $25.33 and a two-hundred day simple moving average of $24.61. Alumis has a 1 year low of $3.76 and a 1 year high of $31.35.

Alumis (NASDAQ:ALMS) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($1.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.34). Alumis had a negative net margin of 5,933.46% and a negative return on equity of 93.15%. The firm had revenue of $1.66 million for the quarter, compared to analysts’ expectations of $3.65 million. As a group, analysts anticipate that Alumis will post -2.95 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Roy C. Hardiman sold 2,692 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 $70,988.04. Following the transaction, the insider directly owned 207,746 shares in the company, valued at approximately $5,478,262.02. This represents a 1.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John R. Schroer sold 3,282 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $26.37, for a total value of $86,546.34. Following the completion of the sale, the chief financial officer owned 24,718 shares of the company’s stock, valued at $651,813.66. The trade was a 11.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 19,953 shares of company stock valued at $534,311 in the last 90 days. 33.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Ieq Capital LLC lifted its holdings in shares of Alumis by 4.1% in the 4th quarter. Ieq Capital LLC now owns 17,421 shares of the company’s stock worth $170,000 after acquiring an additional 690 shares during the last quarter. Strs Ohio grew its holdings in shares of Alumis by 300.0% during the 1st quarter. Strs Ohio now owns 2,000 shares of the company’s stock valued at $44,000 after purchasing an additional 1,500 shares during the last quarter. ProShare Advisors LLC grew its holdings in shares of Alumis by 12.4% during the 4th quarter. ProShare Advisors LLC now owns 14,627 shares of the company’s stock valued at $143,000 after purchasing an additional 1,618 shares during the last quarter. KBC Group NV purchased a new position in Alumis in the 1st quarter worth $42,000. Finally, State of Wyoming purchased a new position in Alumis in the 1st quarter worth $57,000.

Key Alumis News

Here are the key news stories impacting Alumis this week:

• Positive Sentiment: HC Wainwright upgraded its rating on Alumis. The upgrade helped support an earlier rebound in the shares, although its effect was subsequently overshadowed by the lupus-trial news. Alumis Stock Rating Upgraded by HC Wainwright
• Positive Sentiment: Alumis will participate in several September investor conferences. These events could give management an opportunity to explain the clinical results, discuss its broader pipeline and outline its strategy for using biomarker data to identify potentially responsive lupus patients. Alumis to Participate in Upcoming September Investor Conferences
• Neutral Sentiment: Options activity was unusually high. Elevated options trading indicates increased investor positioning and volatility following the clinical announcement, but it does not establish a clear directional outlook. Alumis Target of Unusually Large Options Trading
• Negative Sentiment: Alumis’ Phase 2b lupus study missed its key endpoints. The mixed data for the company’s lead SLE treatment raised concerns about the drug’s efficacy and commercial prospects, triggering a sharp decline in the stock. Management’s potential biomarker-based development strategy may preserve a path forward, but it also adds uncertainty and could require additional clinical work. Alumis Lead Lupus Drug Missed Phase 2b Trial Endpoints
• Negative Sentiment: Guggenheim downgraded Alumis from Buy to Neutral after the trial setback. The downgrade reflects reduced confidence in the lupus program and likely contributed to continued selling pressure. Additional analyst commentary has focused on the implications of the clinical miss for valuation and the company’s pipeline. Alumis Downgraded at Guggenheim

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.