Sanam Pangali Sells 5,000 Shares of Alumis (NASDAQ:ALMS) Stock

Alumis Inc. (NASDAQ:ALMS) insider Sanam Pangali sold 5,000 shares of Alumis stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $28.00, for a total value of $140,000.00. Following the completion of the sale, the insider owned 11,111 shares in the company, valued at approximately $311,108. This trade represents a 31.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Alumis Stock Performance

NASDAQ:ALMS opened at $30.30 on Friday. Alumis Inc. has a 1 year low of $3.24 and a 1 year high of $31.35. The stock has a fifty day moving average price of $23.60 and a two-hundred day moving average price of $23.44. The stock has a market capitalization of $3.86 billion, a price-to-earnings ratio of -15.30 and a beta of -0.73.

Alumis (NASDAQ:ALMS) last issued its earnings results on Thursday, May 14th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.73) by ($0.01). The company had revenue of $1.74 million for the quarter, compared to analysts’ expectations of $2.10 million. Alumis had a negative return on equity of 88.79% and a negative net margin of 2,825.70%. On average, analysts predict that Alumis Inc. will post -2.87 EPS for the current year.

Institutional Trading of Alumis

Institutional investors and hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. raised its holdings in Alumis by 320.9% in the third quarter. Russell Investments Group Ltd. now owns 6,419 shares of the company’s stock valued at $26,000 after buying an additional 4,894 shares during the period. New York State Common Retirement Fund boosted its holdings in Alumis by 173.7% in 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 last quarter. KBC Group NV acquired a new stake in shares of Alumis during the first quarter worth approximately $42,000. Strs Ohio grew its holdings in Alumis by 300.0% during the 1st quarter. Strs Ohio now owns 2,000 shares of the company’s stock worth $44,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew 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 worth $46,000 after purchasing an additional 979 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Morgan Stanley restated an “overweight” rating and set a $39.00 target price on shares of Alumis in a research report on Friday, May 15th. Wells Fargo & Company lifted their price target on shares of Alumis from $49.00 to $51.00 and gave the company an “overweight” rating in a research report on Friday, May 15th. HC Wainwright lowered Alumis from a “buy” rating to a “neutral” rating and set a $25.00 price target on the stock. in a research note on Friday, May 15th. Oppenheimer increased their price objective 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. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Alumis in a report on Tuesday. One research 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $40.30.

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.