Jorn Drappa Sells 2,447 Shares of Alumis (NASDAQ:ALMS) Stock

Alumis Inc. (NASDAQ:ALMS) insider Jorn Drappa sold 2,447 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $26.37, for a total transaction of $64,527.39. Following the sale, the insider directly owned 56,892 shares of the company’s stock, valued at approximately $1,500,242.04. This represents a 4.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Alumis Price Performance

Shares of ALMS stock remained flat at $27.12 during mid-day trading on Wednesday. 629,130 shares of the stock were exchanged, compared to its average volume of 2,037,268. Alumis Inc. has a 12-month low of $3.76 and a 12-month high of $31.35. The firm’s 50 day moving average price is $25.26 and its 200 day moving average price is $25.20. The stock has a market cap of $3.46 billion, a price-to-earnings ratio of -13.70 and a beta of -0.69.

Alumis (NASDAQ:ALMS) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.74) earnings per share (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 for the quarter, compared to the consensus estimate of $2.10 million. On average, research analysts anticipate that Alumis Inc. will post -2.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ALMS shares. Guggenheim lifted their price target on shares of Alumis from $32.00 to $34.00 and gave the company a “buy” rating in a report on Friday, May 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Alumis in a research report on Tuesday, July 7th. Chardan Capital lifted their target price on shares of Alumis from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, May 19th. HC Wainwright reaffirmed a “neutral” rating and issued a $25.00 target price on shares of Alumis in a report on Monday. Finally, Wall Street Zen lowered Alumis from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $40.30.

Institutional Investors Weigh In On Alumis

A number of institutional investors have recently added to or reduced their stakes in the stock. KBC Group NV purchased a new position in shares of Alumis in the first quarter worth $42,000. Strs Ohio lifted its stake in Alumis by 300.0% in the 1st quarter. Strs Ohio now owns 2,000 shares of the company’s stock worth $44,000 after purchasing an additional 1,500 shares in the last quarter. State of Wyoming purchased a new stake in Alumis in the 1st quarter worth $57,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Alumis by 600.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,131 shares of the company’s stock valued at $69,000 after purchasing an additional 2,684 shares during the last quarter. Finally, Assetmark Inc. bought a new position in shares of Alumis during the 1st quarter valued at about $92,000.

About Alumis

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.