Alumis (NASDAQ:ALMS) Trading Up 6.4% – Here’s Why

Shares of Alumis Inc. (NASDAQ:ALMS) were up 6.4% during trading on Tuesday . The stock traded as high as $28.86 and last traded at $29.0070. Approximately 213,909 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 2,156,024 shares. The stock had previously closed at $27.27.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ALMS. Chardan Capital upped their price target on Alumis from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, May 19th. Wells Fargo & Company lifted their price objective on Alumis from $49.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, May 15th. Oppenheimer boosted their target price on shares of Alumis from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Monday, March 30th. Guggenheim upped their target price on shares of Alumis from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Finally, Wall Street Zen cut shares of Alumis from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $40.30.

Alumis Trading Up 6.6%

The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of -14.71 and a beta of -0.73. The firm has a fifty day moving average price of $23.29 and a 200 day moving average price of $23.05.

Alumis (NASDAQ:ALMS) last released its quarterly earnings results 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 for the quarter, compared to analyst estimates of $2.10 million. As a group, equities analysts predict that Alumis Inc. will post -2.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Stempoint Capital LP acquired a new position in Alumis during the 1st quarter worth about $5,057,000. Janus Henderson Group PLC acquired a new stake in Alumis in the 1st quarter valued at about $46,790,000. Ally Bridge Group NY LLC acquired a new stake in Alumis in the 1st quarter valued at about $3,678,000. EverSource Wealth Advisors LLC raised its stake in shares of Alumis by 600.4% in the first quarter. EverSource Wealth Advisors LLC now owns 3,131 shares of the company’s stock worth $69,000 after acquiring an additional 2,684 shares during the last quarter. Finally, California State Teachers Retirement System lifted its position in shares of Alumis by 2,222.5% during the first quarter. California State Teachers Retirement System now owns 80,845 shares of the company’s stock worth $1,781,000 after purchasing an additional 77,364 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.