Alumis (NASDAQ:ALMS) Trading 7.4% Higher – Still a Buy?

Alumis Inc. (NASDAQ:ALMS)’s stock price traded up 7.4% during mid-day trading on Thursday . The company traded as high as $11.71 and last traded at $11.3610. 1,035,271 shares were traded during trading, an increase of 37% from the average session volume of 752,937 shares. The stock had previously closed at $10.58.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alumis in a report on Monday. HC Wainwright raised their price target on Alumis from $14.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Wall Street Zen raised shares of Alumis from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. Six research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Alumis currently has a consensus rating of “Moderate Buy” and an average target price of $20.40.

Alumis Trading Up 4.5%

The company has a market capitalization of $1.15 billion, a P/E ratio of -2.72 and a beta of -1.87. The company’s 50 day moving average is $6.64 and its 200-day moving average is $4.86.

Alumis (NASDAQ:ALMS) last posted its quarterly earnings data on Thursday, November 13th. The company reported ($1.06) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.14). The company had revenue of $2.07 million for the quarter, compared to analyst estimates of $3.14 million. Analysts predict that Alumis Inc. will post -8.51 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Foresite Capital Management Vi purchased 200,000 shares of the stock in a transaction dated Monday, November 17th. The stock was purchased at an average price of $5.59 per share, with a total value of $1,118,000.00. Following the transaction, the insider directly owned 2,234,129 shares in the company, valued at $12,488,781.11. This trade represents a 9.83% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Srinivas Akkaraju purchased 276,179 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The stock was purchased at an average price of $5.25 per share, for a total transaction of $1,449,939.75. Following the purchase, the director owned 276,179 shares in the company, valued at $1,449,939.75. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 2,788,875 shares of company stock worth $18,352,357 in the last 90 days. Corporate insiders own 40.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Russell Investments Group Ltd. raised its holdings in Alumis by 320.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,419 shares of the company’s stock worth $26,000 after acquiring an additional 4,894 shares during the last quarter. CWM LLC grew its stake in shares of Alumis by 1,028.7% in the third quarter. CWM LLC now owns 10,384 shares of the company’s stock worth $41,000 after acquiring an additional 9,464 shares during the period. Kera Capital Partners Inc. bought a new stake in shares of Alumis in the second quarter worth approximately $32,000. Corebridge Financial Inc. raised its holdings in shares of Alumis by 53.0% during the first quarter. Corebridge Financial Inc. now owns 10,658 shares of the company’s stock valued at $65,000 after purchasing an additional 3,693 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey lifted its position in Alumis by 199.7% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 10,753 shares of the company’s stock valued at $32,000 after purchasing an additional 7,165 shares during the period.

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.