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

Wall Street Zen cut shares of Alumis (NASDAQ:ALMS) from a hold rating to a sell rating in a report released on Saturday.

Several other analysts have also weighed in on the company. Stifel Nicolaus started coverage on Alumis in a report on Wednesday, February 25th. They issued a “buy” rating and a $44.00 price objective for the company. Guggenheim boosted their price objective on Alumis from $32.00 to $34.00 and gave the company a “buy” rating in a report on Friday. Loop Capital set a $37.00 price objective on Alumis in a report on Wednesday, January 21st. Oppenheimer boosted their price objective on Alumis from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Monday, March 30th. Finally, Morgan Stanley restated an “overweight” rating and issued a $39.00 target price on shares of Alumis in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Alumis has an average rating of “Moderate Buy” and a consensus price target of $40.10.

Alumis Stock Down 7.1%

Shares of Alumis stock opened at $22.87 on Friday. The firm has a market cap of $2.91 billion, a P/E ratio of -11.55 and a beta of -0.31. Alumis has a fifty-two week low of $2.76 and a fifty-two week high of $30.60. The business has a 50-day moving average price of $24.44 and a 200 day moving average price of $18.98.

Alumis (NASDAQ:ALMS) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.73) by ($0.01). The firm had revenue of $1.74 million during the quarter, compared to the consensus estimate of $2.10 million. Alumis had a negative net margin of 2,825.70% and a negative return on equity of 98.82%. As a group, equities research analysts anticipate that Alumis will post -3.06 earnings per share for the current year.

Hedge Funds Weigh In On Alumis

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Ieq Capital LLC boosted its stake in Alumis by 4.1% in the fourth quarter. Ieq Capital LLC now owns 17,421 shares of the company’s stock valued at $170,000 after acquiring an additional 690 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Alumis by 26.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,724 shares of the company’s stock valued at $46,000 after acquiring an additional 979 shares during the period. Strs Ohio boosted its stake in Alumis by 300.0% in the first quarter. Strs Ohio now owns 2,000 shares of the company’s stock valued at $44,000 after acquiring an additional 1,500 shares during the period. ProShare Advisors LLC boosted its stake in Alumis by 12.4% in the fourth quarter. ProShare Advisors LLC now owns 14,627 shares of the company’s stock valued at $143,000 after acquiring an additional 1,618 shares during the period. Finally, KBC Group NV acquired a new position in Alumis in the first quarter valued at approximately $42,000.

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.