Alumis (NASDAQ:ALMS) Announces Quarterly Earnings Results

Alumis (NASDAQ:ALMS) posted its quarterly earnings data on Thursday. The company reported ($0.73) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.03, FiscalAI reports. Alumis had a negative net margin of 5,933.46% and a negative return on equity of 93.15%. The firm had revenue of $1.91 million during the quarter, compared to the consensus estimate of $1.90 million.

Alumis Stock Performance

NASDAQ:ALMS opened at $5.84 on Friday. The firm’s fifty day moving average is $7.36 and its 200-day moving average is $20.56. Alumis has a 52 week low of $4.60 and a 52 week high of $31.35. The firm has a market cap of $756.52 million, a P/E ratio of -1.51 and a beta of -0.28.

Insiders Place Their Bets

In other Alumis news, Director Srinivas Akkaraju sold 96,131 shares of Alumis stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $10.55, for a total value of $1,014,182.05. Following the completion of the sale, the director directly owned 2,025,493 shares in the company, valued at approximately $21,368,951.15. The trade was a 4.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 99,754 shares of company stock valued at $1,037,804 in the last ninety days. Insiders own 33.70% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Robert W. Baird set a $27.00 price target on Alumis in a research note on Tuesday, September 1st. Oppenheimer dropped their target price on shares of Alumis from $55.00 to $37.00 and set an “outperform” rating for the company in a research report on Wednesday, September 2nd. Guggenheim lowered shares of Alumis from a “buy” rating to a “neutral” rating in a research report on Thursday, September 3rd. Citigroup reiterated an “overweight” rating on shares of Alumis in a research report on Tuesday, September 1st. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Alumis in a research note on Wednesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Alumis currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.73.

About Alumis

Alumis is a clinical-stage biopharmaceutical company developing medicines for autoimmune and inflammatory diseases. The company uses data and computational tools to support the discovery and development of targeted treatments. Its lead investigational program, ESK-001, is an oral, selective TYK2 inhibitor being studied for conditions including plaque psoriasis and systemic lupus erythematosus. Alumis is also advancing other drug candidates for immune-mediated diseases. These medicines remain in clinical development and are not approved for commercial use.