Alumis (NASDAQ:ALMS) Trading Down 5% – What’s Next?

Shares of Alumis Inc. (NASDAQ:ALMS) were down 5% during trading on Wednesday . The stock traded as low as $4.97 and last traded at $5.0350. Approximately 147,379 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 680,676 shares. The stock had previously closed at $5.30.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ALMS. Wells Fargo & Company began coverage on shares of Alumis in a report on Friday, July 25th. They set an “overweight” rating and a $17.00 price target for the company. HC Wainwright restated a “buy” rating and set a $14.00 price objective on shares of Alumis in a research report on Thursday, August 14th. Wall Street Zen upgraded Alumis from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 16th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alumis in a report on Wednesday, October 8th. Finally, Morgan Stanley decreased their price target on Alumis from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Friday, August 15th. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $19.20.

Alumis Trading Down 1.1%

The company has a market capitalization of $545.27 million, a P/E ratio of -1.11 and a beta of -1.33. The stock has a 50 day moving average price of $4.45 and a 200 day moving average price of $4.17.

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

Institutional Trading of Alumis

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its holdings in Alumis by 37.0% in the 1st quarter. Bank of New York Mellon Corp now owns 42,403 shares of the company’s stock valued at $260,000 after buying an additional 11,453 shares during the last quarter. Towerview LLC grew its holdings in Alumis by 3.6% during the 1st quarter. Towerview LLC now owns 430,000 shares of the company’s stock worth $2,640,000 after acquiring an additional 15,000 shares during the last quarter. BML Capital Management LLC acquired a new position in Alumis in the 1st quarter valued at approximately $305,000. Charles Schwab Investment Management Inc. raised its stake in shares of Alumis by 12.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 127,854 shares of the company’s stock valued at $785,000 after acquiring an additional 14,453 shares during the last quarter. Finally, Invesco Ltd. acquired a new position in shares of Alumis during the first quarter worth $164,000.

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.