Alumis Inc. (NASDAQ:ALMS) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Alumis Inc. (NASDAQ:ALMS) have received an average recommendation of “Moderate Buy” from the twelve research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $40.30.

ALMS has been the topic of several recent analyst reports. Guggenheim lifted their price objective on shares of Alumis from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Morgan Stanley restated an “overweight” rating and set a $39.00 price objective on shares of Alumis in a report on Friday, May 15th. Chardan Capital upped their target price on shares of Alumis from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, May 19th. Wells Fargo & Company increased their target price on shares of Alumis from $49.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday, May 15th. Finally, HC Wainwright cut shares of Alumis from a “buy” rating to a “neutral” rating and set a $25.00 price target on the stock. in a research report on Friday, May 15th.

Insider Activity at Alumis

In related news, insider Sanam Pangali sold 5,000 shares of the firm’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $28.00, for a total transaction of $140,000.00. Following the sale, the insider owned 11,111 shares of the company’s stock, valued at approximately $311,108. This trade represents a 31.03% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 33.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Handelsbanken Fonder AB bought a new stake in shares of Alumis in the second quarter worth about $1,024,000. Stempoint Capital LP bought a new position in shares of Alumis during the 1st quarter valued at about $5,057,000. Janus Henderson Group PLC bought a new position in shares of Alumis during the 1st quarter valued at about $46,790,000. Ally Bridge Group NY LLC bought a new position in shares of Alumis during the 1st quarter valued at about $3,678,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Alumis by 600.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,131 shares of the company’s stock valued at $69,000 after purchasing an additional 2,684 shares during the period.

Alumis Stock Performance

NASDAQ:ALMS opened at $28.25 on Wednesday. Alumis has a 1-year low of $3.76 and a 1-year high of $31.35. The business’s 50-day moving average price is $25.08 and its two-hundred day moving average price is $25.15. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of -14.27 and a beta of -0.69.

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