Alumis (NASDAQ:ALMS) Posts Earnings Results, Beats Estimates By $0.02 EPS

Alumis (NASDAQ:ALMS) released its earnings results on Thursday. The company reported ($0.73) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.02, FiscalAI reports. The firm had revenue of $1.91 million for the quarter, compared to analyst estimates of $1.90 million. Alumis had a negative net margin of 5,933.46% and a negative return on equity of 93.15%.

Alumis Trading Down 7.4%

ALMS stock traded down $0.49 during trading on Thursday, hitting $6.13. 1,862,859 shares of the company’s stock were exchanged, compared to its average volume of 2,224,773. The business has a 50-day moving average price of $7.44 and a two-hundred day moving average price of $20.66. The stock has a market capitalization of $793.44 million, a price-to-earnings ratio of -1.59 and a beta of -0.28. Alumis has a 52-week low of $4.60 and a 52-week high of $31.35.

Insider Buying and Selling

In related news, Director Srinivas Akkaraju purchased 546,581 shares of the company’s stock in a transaction on Tuesday, September 8th. The shares were bought at an average cost of $10.63 per share, for a total transaction of $5,810,156.03. Following the completion of the purchase, the director directly owned 4,937,026 shares of the company’s stock, valued at approximately $52,480,586.38. This trade represents a 12.45% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 99,754 shares of company stock valued at $1,037,804 in the last 90 days. Corporate insiders own 33.70% of the company’s stock.

Analysts Set New Price Targets

ALMS has been the subject of a number of recent research reports. Wells Fargo & Company decreased their price target on shares of Alumis from $51.00 to $25.00 and set an “overweight” rating for the company in a research note on Wednesday, September 2nd. Citigroup reissued an “overweight” rating on shares of Alumis in a research report on Tuesday, September 1st. Robert W. Baird set a $27.00 price objective on shares of Alumis in a report on Tuesday, September 1st. Guggenheim cut shares of Alumis from a “buy” rating to a “neutral” rating in a research report on Thursday, September 3rd. Finally, Morgan Stanley decreased their price objective on shares of Alumis from $39.00 to $29.00 and set an “overweight” rating for the company in a research report on Wednesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $33.27.

About Alumis

Alumis is a clinical-stage biopharmaceutical company developing medicines for autoimmune and inflammatory diseases. The company uses data and computational tools to support the discovery and development of targeted treatments. Its lead investigational program, ESK-001, is an oral, selective TYK2 inhibitor being studied for conditions including plaque psoriasis and systemic lupus erythematosus. Alumis is also advancing other drug candidates for immune-mediated diseases. These medicines remain in clinical development and are not approved for commercial use.