Alumis (NASDAQ:ALMS) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen downgraded shares of Alumis (NASDAQ:ALMS) from a hold rating to a sell rating in a research note released on Saturday morning.

Other equities analysts also recently issued reports about the stock. Wells Fargo & Company began coverage on shares of Alumis in a research note on Friday, July 25th. They set an “overweight” rating and a $17.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alumis in a research note on Thursday. HC Wainwright reiterated a “buy” rating and set a $14.00 price objective on shares of Alumis in a research report on Thursday, August 14th. Finally, Morgan Stanley decreased their target price on shares of Alumis from $23.00 to $22.00 and set an “overweight” rating for the company in a research note on Friday, August 15th. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.20.

Alumis Stock Performance

Alumis stock traded up $0.24 on Friday, reaching $5.52. The company’s stock had a trading volume of 1,721,547 shares, compared to its average volume of 699,524. The business’s fifty day moving average price is $4.49 and its 200 day moving average price is $4.19. Alumis has a twelve month low of $2.76 and a twelve month high of $10.64. The company has a market cap of $574.43 million, a price-to-earnings ratio of -1.17 and a beta of -1.33.

Alumis (NASDAQ:ALMS) last released its earnings results on Thursday, November 13th. The company reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.14). The business had revenue of $2.07 million for the quarter, compared to analysts’ expectations of $3.14 million. As a group, equities analysts forecast that Alumis will post -8.51 earnings per share for the current year.

Hedge Funds Weigh In On Alumis

A number of hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. grew its position in shares of Alumis by 320.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,419 shares of the company’s stock valued at $26,000 after acquiring an additional 4,894 shares during the period. Kera Capital Partners Inc. bought a new position in Alumis in the 2nd quarter worth about $32,000. Police & Firemen s Retirement System of New Jersey raised its holdings in shares of Alumis by 199.7% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 10,753 shares of the company’s stock valued at $32,000 after purchasing an additional 7,165 shares during the last quarter. New York State Common Retirement Fund grew its holdings in Alumis by 173.7% during the second quarter. New York State Common Retirement Fund now owns 11,767 shares of the company’s stock valued at $35,000 after purchasing an additional 7,467 shares during the period. Finally, Western Wealth Management LLC bought a new stake in Alumis during the 2nd quarter valued at approximately $36,000.

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.