Alumis Inc. (NASDAQ:ALMS) Receives $37.67 Consensus PT from Brokerages

Alumis Inc. (NASDAQ:ALMS) has been given a consensus rating of “Moderate Buy” by the ten ratings firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $37.6667.

ALMS has been the subject of a number of recent research reports. UBS Group reiterated an “outperform” rating on shares of Alumis in a research note on Tuesday, January 6th. Citigroup reiterated an “outperform” rating on shares of Alumis in a research report on Tuesday, January 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alumis in a research note on Monday, December 29th. Guggenheim raised their target price on Alumis from $18.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $50.00 target price on shares of Alumis in a report on Tuesday, January 6th.

Insider Activity

In other news, major shareholder Foresite Labs, Llc purchased 200,000 shares of the business’s stock in a transaction on Monday, November 17th. The stock was purchased at an average cost of $5.59 per share, with a total value of $1,118,000.00. Following the acquisition, the insider directly owned 2,234,129 shares in the company, valued at approximately $12,488,781.11. This trade represents a 9.83% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Srinivas Akkaraju purchased 276,179 shares of Alumis stock in a transaction dated Thursday, November 13th. The shares were purchased at an average price of $5.25 per share, with a total value of $1,449,939.75. Following the completion of the transaction, the director directly owned 276,179 shares in the company, valued at approximately $1,449,939.75. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased a total of 3,612,403 shares of company stock worth $32,352,333 in the last three months. Insiders own 40.70% of the company’s stock.

Institutional Investors Weigh In On Alumis

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

Alumis Stock Performance

Shares of ALMS opened at $21.09 on Friday. Alumis has a fifty-two week low of $2.76 and a fifty-two week high of $22.30. The business has a 50-day moving average of $9.54 and a 200 day moving average of $6.08. The firm has a market cap of $2.20 billion, a P/E ratio of -5.21 and a beta of -2.09.

Alumis (NASDAQ:ALMS) last issued 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, research analysts predict that Alumis will post -8.51 earnings per share for the current fiscal year.

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.