Alumis (NASDAQ:ALMS) Upgraded at HC Wainwright

Alumis (NASDAQ:ALMS) was upgraded by stock analysts at HC Wainwright from a “neutral” rating to a “buy” rating in a note issued to investors on Wednesday, MarketBeat.com reports. The brokerage currently has a $15.00 price objective on the stock, down from their prior price objective of $25.00. HC Wainwright’s price objective indicates a potential upside of 58.39% from the company’s current price.

Several other analysts have also issued reports on the stock. Wall Street Zen raised shares of Alumis from a “strong sell” rating to a “hold” rating in a research report on Sunday, August 23rd. Guggenheim lifted their price objective on shares of Alumis from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Wells Fargo & Company reissued an “overweight” rating on shares of Alumis in a report on Wednesday. Chardan Capital raised their price target on Alumis from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, May 19th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Alumis in a research report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $35.82.

Alumis Stock Down 56.6%

Shares of NASDAQ:ALMS opened at $9.47 on Wednesday. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of -2.45 and a beta of -0.80. Alumis has a 12-month low of $3.76 and a 12-month high of $31.35. The business’s 50 day moving average is $26.20 and its 200 day moving average is $24.93.

Alumis (NASDAQ:ALMS) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($1.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.34). The firm had revenue of $1.66 million during the quarter, compared to the consensus estimate of $3.65 million. Alumis had a negative return on equity of 93.15% and a negative net margin of 5,933.46%. As a group, equities research analysts expect that Alumis will post -2.95 earnings per share for the current year.

Insider Activity at Alumis

In related news, insider Mark Christopher Bradley sold 2,572 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $26.37, for a total value of $67,823.64. Following the transaction, the insider directly owned 48,533 shares in the company, valued at approximately $1,279,815.21. This represents a 5.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sanam Pangali sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $28.00, for a total transaction of $140,000.00. Following the completion of the sale, the insider directly owned 11,111 shares in the company, valued at $311,108. This represents a 31.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 19,953 shares of company stock valued at $534,311 in the last ninety days. Insiders own 33.70% of the company’s stock.

Hedge Funds Weigh In On Alumis

A number of large investors have recently modified their holdings of ALMS. 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 worth $170,000 after buying an additional 690 shares in the last quarter. Strs Ohio raised its stake in shares of Alumis by 300.0% during the first 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. ProShare Advisors LLC raised its stake in shares of Alumis by 12.4% during the fourth quarter. ProShare Advisors LLC now owns 14,627 shares of the company’s stock worth $143,000 after acquiring an additional 1,618 shares in the last quarter. KBC Group NV bought a new stake in shares of Alumis in the 1st quarter worth approximately $42,000. Finally, State of Wyoming bought a new stake in shares of Alumis in the 1st quarter worth approximately $57,000.

Key Alumis News

Here are the key news stories impacting Alumis this week:

• Positive Sentiment: Alumis said patients with a prespecified, high interferon gene signature (IFNGS-high) showed robust responses, supporting plans to advance envudeucitinib into a Phase 3 lupus study focused on this subgroup. The drug was generally well tolerated, with no new safety signals. Alumis Announces Topline Results from Envudeucitinib Phase 2b Trial in SLE
• Positive Sentiment: The company remains on track to submit a U.S. application for envudeucitinib in moderate-to-severe plaque psoriasis during the fourth quarter of 2026. Analysts and commentary continue to view psoriasis as an important source of potential value despite the lupus disappointment. Alumis: A Brutal Lupus Setback, But Psoriasis Still Supports Upside
• Neutral Sentiment: Trading in ALMS was temporarily halted pending news as investors assessed the trial announcement. Unusually heavy put-option activity, with put volume substantially above normal, indicated elevated hedging or bearish positioning ahead of the results.
• Negative Sentiment: The Phase 2b LUMUS trial failed to meet its primary and secondary endpoints in the overall SLE population. The result undermines the drug’s broad lupus opportunity and prompted a steep selloff because Alumis has no commercial product and its valuation is heavily dependent on envudeucitinib. Alumis Phase 2b LUMUS Trial Misses Endpoints
• Negative Sentiment: Management’s decision to pursue a late-stage lupus study only in the IFNGS-high subgroup may reduce the addressable market and adds regulatory and execution risk. Investors will likely focus on the strength and durability of that subgroup data, Phase 3 design, and the psoriasis filing timeline. Alumis Eyes Late-Stage Lupus Study Despite Trial Miss

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.