Insider Selling: Alumis (NASDAQ:ALMS) Insider Sells $70,988.04 in Stock

Alumis Inc. (NASDAQ:ALMS) insider Roy Hardiman sold 2,692 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $26.37, for a total value of $70,988.04. Following the completion of the transaction, the insider owned 207,746 shares in the company, valued at approximately $5,478,262.02. The trade was a 1.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Alumis Stock Down 0.7%

ALMS stock opened at $27.60 on Friday. The business has a 50 day moving average price of $25.62 and a 200 day moving average price of $25.26. The stock has a market cap of $3.52 billion, a price-to-earnings ratio of -13.94 and a beta of -0.69. Alumis Inc. has a fifty-two week low of $3.76 and a fifty-two week high of $31.35.

Alumis (NASDAQ:ALMS) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.73) by ($0.01). Alumis had a negative net margin of 2,825.70% and a negative return on equity of 88.79%. The company had revenue of $1.74 million during the quarter, compared to analysts’ expectations of $2.10 million. As a group, sell-side analysts anticipate that Alumis Inc. will post -2.87 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on ALMS shares. Wall Street Zen lowered shares of Alumis from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. HC Wainwright restated a “neutral” rating and issued a $25.00 price objective on shares of Alumis in a research note on Monday, August 3rd. Wells Fargo & Company upped their price objective on shares of Alumis from $49.00 to $51.00 and gave the company an “overweight” rating in a research note on Friday, May 15th. Morgan Stanley reaffirmed an “overweight” rating and set a $39.00 price objective on shares of Alumis in a report on Friday, May 15th. Finally, Chardan Capital boosted their target price on Alumis from $38.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $40.30.

Hedge Funds Weigh In On Alumis

A number of institutional investors have recently modified their holdings of the business. Swiss National Bank acquired a new position in Alumis in the 1st quarter valued at about $2,815,000. Elmind Capital LP acquired a new stake in Alumis during the 1st quarter worth approximately $2,864,000. Stempoint Capital LP acquired a new stake in Alumis during the 1st quarter worth approximately $5,057,000. Janus Henderson Group PLC purchased a new position in shares of Alumis in the 1st quarter valued at approximately $46,790,000. Finally, Spruce Street Capital LP acquired a new position in shares of Alumis in the first quarter valued at approximately $8,648,000.

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.