Alumis (NASDAQ:ALMS) Shares Up 8.2% – Here’s What Happened

Alumis Inc. (NASDAQ:ALMS)’s share price traded up 8.2% during trading on Friday . The stock traded as high as $22.15 and last traded at $22.6060. 81,682 shares were traded during trading, a decline of 96% from the average session volume of 2,199,926 shares. The stock had previously closed at $20.90.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Stifel Nicolaus assumed coverage on shares of Alumis in a report on Wednesday, February 25th. They issued a “buy” rating and a $44.00 price target on the stock. Wells Fargo & Company lifted their price target on shares of Alumis from $49.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday, May 15th. Guggenheim lifted their price target on shares of Alumis from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Citigroup reaffirmed a “buy” rating on shares of Alumis in a report on Tuesday, May 19th. Finally, Chardan Capital lifted their price target on shares of Alumis from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, May 19th. One 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 issued a Sell rating to the stock. According to data from MarketBeat, Alumis currently has a consensus rating of “Moderate Buy” and an average target price of $40.30.

Alumis Trading Up 11.9%

The company has a market cap of $2.98 billion, a P/E ratio of -11.78 and a beta of -0.56. The business’s fifty day moving average is $22.82 and its 200 day moving average is $21.17.

Alumis (NASDAQ:ALMS) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.01). Alumis had a negative net margin of 2,825.70% and a negative return on equity of 88.79%. The business had revenue of $1.74 million during the quarter, compared to analysts’ expectations of $2.10 million. As a group, research analysts expect that Alumis Inc. will post -2.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ALMS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Alumis by 64.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,535 shares of the company’s stock valued at $77,000 after buying an additional 4,926 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Alumis by 24.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 61,645 shares of the company’s stock valued at $378,000 after buying an additional 11,949 shares in the last quarter. Jane Street Group LLC purchased a new position in Alumis in the 1st quarter valued at approximately $111,000. Rhumbline Advisers grew its stake in Alumis by 21.7% in the 1st quarter. Rhumbline Advisers now owns 16,543 shares of the company’s stock valued at $102,000 after buying an additional 2,949 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Alumis by 163.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,167,832 shares of the company’s stock valued at $3,504,000 after buying an additional 724,133 shares in the last quarter.

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.