Alumis’ (ALMS) Sell (E+) Rating Reiterated at Weiss Ratings

Weiss Ratings reaffirmed their sell (e+) rating on shares of Alumis (NASDAQ:ALMS) in a research note published on Wednesday,Weiss Ratings reports.

A number of other brokerages also recently commented on ALMS. Wells Fargo & Company started coverage on shares of Alumis in a research note on Friday, July 25th. They issued an “overweight” rating and a $17.00 price objective for the company. Wall Street Zen raised shares of Alumis from a “strong sell” rating to a “hold” rating in a report on Saturday, August 16th. Morgan Stanley dropped their price objective on shares of Alumis from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Friday, August 15th. HC Wainwright restated a “buy” rating and set a $14.00 target price on shares of Alumis in a research report on Thursday, August 14th. Finally, Guggenheim upgraded shares of Alumis to a “buy” rating and set a $18.00 target price for the company in a research report on Tuesday, June 10th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.17.

Alumis Price Performance

Shares of NASDAQ ALMS opened at $4.44 on Wednesday. Alumis has a 1 year low of $2.76 and a 1 year high of $13.11. The firm has a 50-day simple moving average of $4.39 and a two-hundred day simple moving average of $4.47.

Alumis (NASDAQ:ALMS) last announced its quarterly earnings data on Wednesday, August 13th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.11) by ($0.06). The business had revenue of $2.67 million for the quarter, compared to analyst estimates of $1.80 million. On average, sell-side analysts expect that Alumis will post -8.51 EPS for the current fiscal year.

Institutional Trading of Alumis

Large investors have recently bought and sold shares of the business. Orbimed Advisors LLC purchased a new stake in shares of Alumis in the 2nd quarter valued at approximately $5,779,000. Velan Capital Investment Management LP purchased a new position in shares of Alumis during the 2nd quarter worth approximately $4,863,000. Samsara Biocapital LLC boosted its position in shares of Alumis by 47.0% during the 2nd quarter. Samsara Biocapital LLC now owns 4,801,370 shares of the company’s stock worth $14,404,000 after purchasing an additional 1,534,872 shares during the period. Tybourne Capital Management HK Ltd. acquired a new stake in Alumis during the 2nd quarter worth approximately $4,198,000. Finally, General Atlantic L.P. purchased a new position in Alumis during the 2nd quarter worth $3,893,000.

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.