Stock Traders Purchase Large Volume of Alumis Put Options (NASDAQ:ALMS)

Alumis Inc. (NASDAQ:ALMS) saw unusually large options trading on Monday. Stock investors purchased 10,007 put options on the company. This represents an increase of 446% compared to the average daily volume of 1,832 put options.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ALMS. Wall Street Zen lowered Alumis from a “hold” rating to a “sell” rating in a research report on Saturday, September 5th. Citigroup reiterated an “overweight” rating on shares of Alumis in a report on Tuesday, September 1st. Wells Fargo & Company dropped their price objective on Alumis from $51.00 to $25.00 and set an “overweight” rating for the company in a report on Wednesday, September 2nd. Oppenheimer dropped their price objective on Alumis from $55.00 to $37.00 and set an “outperform” rating for the company in a report on Wednesday, September 2nd. Finally, Benchmark reiterated a “buy” rating on shares of Alumis in a research note on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Alumis has a consensus rating of “Moderate Buy” and a consensus target price of $33.27.

Alumis Trading Down 2.8%

Shares of NASDAQ ALMS traded down $0.20 during trading hours on Tuesday, reaching $6.86. The stock had a trading volume of 171,277 shares, compared to its average volume of 2,251,252. Alumis has a 52-week low of $4.37 and a 52-week high of $31.35. The firm has a market cap of $887.89 million, a price-to-earnings ratio of -1.78 and a beta of -0.38. The business’s fifty day moving average price is $14.93 and its two-hundred day moving average price is $21.11.

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

Insider Activity at Alumis

In other news, CFO John R. Schroer sold 3,282 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $26.37, for a total value of $86,546.34. Following the sale, the chief financial officer owned 24,718 shares of the company’s stock, valued at approximately $651,813.66. This represents a 11.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider David M. Goldstein sold 2,596 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $26.37, for a total transaction of $68,456.52. Following the completion of the sale, the insider owned 30,970 shares of the company’s stock, valued at $816,678.90. This trade represents a 7.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 111,084 shares of company stock valued at $1,408,493 over the last three months. Corporate insiders own 33.70% of the company’s stock.

Hedge Funds Weigh In On Alumis

Several institutional investors have recently made changes to their positions in ALMS. BlackRock Inc. purchased a new stake in Alumis in the second quarter worth about $231,259,000. venBio Partners LLC bought a new position in Alumis during the 2nd quarter worth about $127,429,401. Jupiter Topco LLC purchased a new position in Alumis during the 2nd quarter valued at about $66,238,000. Janus Henderson Group PLC purchased a new position in Alumis during the 1st quarter valued at about $46,790,000. Finally, Cormorant Asset Management LP increased its position in Alumis by 69.3% during the 4th quarter. Cormorant Asset Management LP now owns 3,635,596 shares of the company’s stock valued at $35,483,000 after purchasing an additional 1,488,200 shares during the period.

About Alumis

Alumis, Inc is a clinical-stage biopharmaceutical company focused on developing oral therapies for immune-mediated diseases. The company’s research centers on selective allosteric inhibitors of tyrosine kinase 2 (TYK2), a protein involved in signaling pathways that regulate inflammation and immune responses.

Alumis’ lead product candidate is ESK-001, an oral, highly selective TYK2 inhibitor being evaluated in inflammatory and autoimmune conditions, including plaque psoriasis, psoriatic arthritis and systemic lupus erythematosus.