Alumis Inc. (NASDAQ:ALMS) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Alumis Inc. (NASDAQ:ALMS) have been assigned an average recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $40.30.

Several research analysts recently issued reports on ALMS shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alumis in a research report on Tuesday, July 7th. Wall Street Zen upgraded shares of Alumis from a “strong sell” rating to a “hold” rating in a report on Sunday, August 23rd. Morgan Stanley restated an “overweight” rating and set a $39.00 price objective on shares of Alumis in a report on Friday, May 15th. Citigroup reaffirmed a “neutral” rating on shares of Alumis in a research report on Monday, August 17th. Finally, Guggenheim lifted their target price on shares of Alumis from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Friday, May 15th.

Insiders Place Their Bets

In related news, insider Mark Christopher Bradley sold 2,572 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $26.37, for a total value of $67,823.64. Following the transaction, the insider directly owned 48,533 shares of the company’s stock, valued at $1,279,815.21. This represents a 5.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Roy C. Hardiman sold 2,692 shares of Alumis stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $26.37, for a total value of $70,988.04. Following the sale, the insider directly owned 207,746 shares of the company’s stock, valued at approximately $5,478,262.02. This represents a 1.28% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 19,953 shares of company stock valued at $534,311. Corporate insiders own 33.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ALMS. BlackRock Inc. acquired a new stake in Alumis during the 2nd quarter valued at approximately $231,259,000. venBio Partners LLC purchased a new stake in shares of Alumis in the 2nd quarter valued at $127,429,401. MPM Bioimpact LLC acquired a new stake in shares of Alumis in the fourth quarter worth $23,443,000. Jupiter Topco LLC acquired a new stake in shares of Alumis in the second quarter worth $66,238,000. Finally, California State Teachers Retirement System raised its holdings in shares of Alumis by 2,643.4% during the second quarter. California State Teachers Retirement System now owns 2,217,939 shares of the company’s stock worth $62,413,000 after purchasing an additional 2,137,094 shares during the last quarter.

Alumis Stock Down 3.6%

Shares of ALMS opened at $22.38 on Friday. The company has a 50 day moving average of $26.55 and a two-hundred day moving average of $25.09. Alumis has a twelve month low of $3.76 and a twelve month high of $31.35. The company has a market cap of $2.90 billion, a price-to-earnings ratio of -5.80 and a beta of -0.69.

Alumis (NASDAQ:ALMS) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($1.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.34). The business had revenue of $1.66 million for the quarter, compared to analyst estimates 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 expect that Alumis will post -2.95 EPS for the current year.

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.