Alumis (NASDAQ:ALMS) Issues Earnings Results, Misses Expectations By $0.35 EPS

Alumis (NASDAQ:ALMS) released its quarterly earnings results on Wednesday. The company reported ($1.82) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.47) by ($0.35), Zacks reports.

Alumis Stock Performance

Alumis stock opened at $4.51 on Thursday. The firm’s 50-day moving average is $5.42 and its 200-day moving average is $7.07. Alumis has a 1 year low of $3.18 and a 1 year high of $13.53.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ALMS shares. HC Wainwright reaffirmed a “buy” rating and set a $14.00 price target on shares of Alumis in a report on Wednesday, April 30th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alumis in a report on Thursday, March 20th. Finally, Oppenheimer started coverage on shares of Alumis in a report on Thursday, January 30th. They set an “outperform” rating and a $32.00 price target for the company. Seven analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $25.86.

Insider Buying and Selling

In other news, Director Srinivas Akkaraju acquired 160,370 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The shares were acquired at an average price of $4.67 per share, with a total value of $748,927.90. Following the acquisition, the director now directly owns 3,586,788 shares in the company, valued at approximately $16,750,299.96. The trade was a 4.68% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Foresite Labs, Llc acquired 25,000 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The stock was purchased at an average cost of $4.62 per share, for a total transaction of $115,500.00. Following the acquisition, the insider now owns 4,227,670 shares in the company, valued at approximately $19,531,835.40. This trade represents a 0.59% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 397,044 shares of company stock valued at $1,891,895 in the last quarter.

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.