Alumis (NASDAQ:ALMS) Trading Up 6.4% – Should You Buy?

Shares of Alumis Inc. (NASDAQ:ALMS) shot up 6.4% during trading on Monday . The stock traded as high as $25.90 and last traded at $26.09. 1,323,503 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 7,525,080 shares. The stock had previously closed at $24.52.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Leerink Partners increased their price objective on Alumis from $20.00 to $32.00 and gave the company an “outperform” rating in a research note on Tuesday, January 6th. HC Wainwright restated a “buy” rating and set a $40.00 target price (up from $20.00) on shares of Alumis in a research note on Friday, January 9th. UBS Group reiterated an “outperform” rating on shares of Alumis in a research note on Tuesday, January 6th. Chardan Capital began coverage on shares of Alumis in a report on Wednesday, January 21st. They issued a “buy” rating and a $37.00 price objective on the stock. Finally, Oppenheimer reissued an “outperform” rating and set a $50.00 target price on shares of Alumis in a research report on Tuesday, January 6th. Ten investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.50.

Alumis Stock Up 7.3%

The firm has a fifty day moving average of $13.50 and a 200-day moving average of $7.60. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of -6.50 and a beta of -2.09.

Alumis (NASDAQ:ALMS) last posted its quarterly earnings data on Thursday, November 13th. The company reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.14). The firm had revenue of $2.07 million for the quarter, compared to analyst estimates of $3.14 million. As a group, research analysts forecast that Alumis Inc. will post -8.51 EPS for the current fiscal year.

Insider Activity at Alumis

In other news, major shareholder Foresite Capital Management Vi acquired 411,764 shares of the business’s stock in a transaction on Thursday, January 8th. The shares were purchased at an average price of $17.00 per share, for a total transaction of $6,999,988.00. Following the completion of the purchase, the insider directly owned 5,702,536 shares of the company’s stock, valued at $96,943,112. This represents a 7.78% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James B. Tananbaum bought 411,764 shares of the company’s stock in a transaction on Thursday, January 8th. The shares were acquired at an average cost of $17.00 per share, for a total transaction of $6,999,988.00. Following the completion of the acquisition, the director directly owned 5,702,536 shares of the company’s stock, valued at $96,943,112. This trade represents a 7.78% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 4,612,402 shares of company stock worth $49,352,316 in the last ninety days. 40.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alumis

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Alumis by 64.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,535 shares of the company’s stock worth $77,000 after purchasing an additional 4,926 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Alumis by 24.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 61,645 shares of the company’s stock valued at $378,000 after acquiring an additional 11,949 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Alumis in the first quarter worth $111,000. Rhumbline Advisers boosted its position in Alumis by 21.7% during the 1st quarter. Rhumbline Advisers now owns 16,543 shares of the company’s stock worth $102,000 after acquiring an additional 2,949 shares during the period. Finally, Blair William & Co. IL acquired a new position in Alumis in the 2nd quarter valued at approximately $200,000.

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.