Alumis Inc. (NASDAQ:ALMS) Stock Has Average Price Target of $33.27

Alumis Inc. (NASDAQ:ALMS) has been given an average recommendation of “Moderate Buy” by the fourteen research firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $33.27.

Several equities research analysts recently commented on the company. Cantor Fitzgerald restated an “overweight” rating on shares of Alumis in a research report on Wednesday, September 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alumis in a report on Friday, October 2nd. Wells Fargo & Company lowered their target price on Alumis from $51.00 to $25.00 and set an “overweight” rating for the company in a report on Wednesday, September 2nd. Robert W. Baird set a $27.00 price target on Alumis in a research note on Tuesday, September 1st. Finally, Morgan Stanley dropped their price target on Alumis from $39.00 to $29.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 2nd.

Insider Activity at Alumis

In related news, Director Srinivas Akkaraju sold 96,131 shares of the business’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $10.55, for a total transaction of $1,014,182.05. Following the transaction, the director owned 2,025,493 shares in the company, valued at $21,368,951.15. The trade was a 4.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David M. 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 owned 30,970 shares in the company, valued at $816,678.90. The trade was a 7.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 111,084 shares of company stock worth $1,408,493. Corporate insiders own 33.70% of the company’s stock.

Institutional Investors Weigh In On Alumis

Large investors have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC bought a new position in shares of Alumis during the 2nd quarter worth about $33,000. KBC Group NV acquired a new stake in shares of Alumis in the 1st quarter valued at about $42,000. Strs Ohio increased its position in Alumis by 300.0% in the 1st quarter. Strs Ohio now owns 2,000 shares of the company’s stock valued at $44,000 after buying an additional 1,500 shares in the last quarter. State of Wyoming bought a new stake in Alumis in the 1st quarter valued at about $57,000. Finally, EverSource Wealth Advisors LLC increased its position in Alumis by 600.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,131 shares of the company’s stock valued at $69,000 after buying an additional 2,684 shares in the last quarter.

Alumis Trading Down 7.6%

Shares of Alumis stock opened at $6.06 on Monday. The business has a 50-day moving average price of $14.10 and a two-hundred day moving average price of $20.84. Alumis has a 1-year low of $4.37 and a 1-year high of $31.35.

Alumis (NASDAQ:ALMS) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($1.11) earnings per share for the quarter, missing the consensus estimate of ($0.77) by ($0.34). The business had revenue of $1.66 million during the quarter, compared to the consensus estimate of $3.65 million. Alumis had a negative return on equity of 93.15% and a negative net margin of 5,933.46%. On average, sell-side analysts forecast that Alumis will post -2.95 earnings per share for the current year.

Alumis Company Profile

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.