Investors Buy High Volume of Alumis Put Options (NASDAQ:ALMS)

Alumis Inc. (NASDAQ:ALMS) was the recipient of unusually large options trading on Monday. Stock traders acquired 10,007 put options on the company. This is an increase of approximately 446% compared to the typical volume of 1,832 put options.

Alumis Price Performance

ALMS opened at $6.56 on Wednesday. The firm has a 50-day simple moving average of $14.52 and a two-hundred day simple moving average of $20.98. Alumis has a 52 week low of $4.37 and a 52 week high of $31.35.

Alumis (NASDAQ:ALMS) last issued its earnings results on Thursday, August 13th. The company reported ($1.11) earnings per share (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 during the quarter, compared to the consensus estimate of $3.65 million. As a group, equities research analysts anticipate that Alumis will post -2.95 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Cantor Fitzgerald restated an “overweight” rating on shares of Alumis in a research note on Wednesday, September 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alumis in a report on Friday, October 2nd. Benchmark reiterated a “buy” rating on shares of Alumis in a research report on Monday, October 5th. Wells Fargo & Company lowered their target price on shares of Alumis from $51.00 to $25.00 and set an “overweight” rating on the stock in a report on Wednesday, September 2nd. Finally, Oppenheimer lowered their target price on shares of Alumis from $55.00 to $37.00 and set an “outperform” rating on the stock in a report on Wednesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $33.27.

Insider Transactions at Alumis

In other news, CFO John Schroer sold 3,282 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer owned 24,718 shares of the company’s stock, valued at $651,813.66. This represents a 11.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider David Goldstein sold 2,596 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 value of $68,456.52. Following the sale, the insider owned 30,970 shares of the company’s stock, valued at $816,678.90. This represents a 7.73% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 111,084 shares of company stock valued at $1,408,493. 33.70% of the stock is owned by corporate insiders.

Institutional Trading of Alumis

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

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.