Alumis (NASDAQ:ALMS) Releases Earnings Results, Misses Estimates By $0.04 EPS

Alumis (NASDAQ:ALMS) announced its quarterly earnings data on Thursday. The company reported ($0.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.04), FiscalAI reports. The company had revenue of $1.93 million during the quarter, compared to the consensus estimate of $2.75 million.

Alumis Stock Performance

ALMS stock traded down $0.04 during trading on Thursday, hitting $25.38. 716,662 shares of the stock traded hands, compared to its average volume of 1,361,745. Alumis has a 1 year low of $2.76 and a 1 year high of $30.60. The firm’s 50 day moving average is $26.32 and its two-hundred day moving average is $13.58.

Insider Activity

In other Alumis news, Director James B. Tananbaum purchased 411,764 shares of the stock in a transaction dated Thursday, January 8th. The shares were purchased at an average cost of $17.00 per share, with a total value of $6,999,988.00. Following the completion of the acquisition, the director directly owned 5,702,536 shares in the company, valued at $96,943,112. This trade represents a 7.78% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Srinivas Akkaraju acquired 588,235 shares of Alumis stock in a transaction that occurred on Friday, January 9th. The stock was acquired at an average price of $17.00 per share, with a total value of $9,999,995.00. Following the completion of the acquisition, the director directly owned 1,853,488 shares in the company, valued at $31,509,296. This represents a 46.49% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have bought 1,823,527 shares of company stock worth $30,999,959. Corporate insiders own 40.70% of the company’s stock.

Institutional Investors Weigh In On Alumis

Institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Alumis by 64.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,535 shares of the company’s stock worth $77,000 after purchasing an additional 4,926 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Alumis by 24.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 61,645 shares of the company’s stock valued at $378,000 after purchasing an additional 11,949 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Alumis during the first quarter valued at about $111,000. Rhumbline Advisers increased its holdings in shares of Alumis by 21.7% in the first quarter. Rhumbline Advisers now owns 16,543 shares of the company’s stock worth $102,000 after purchasing an additional 2,949 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Alumis by 163.2% in the second quarter. Geode Capital Management LLC now owns 1,167,832 shares of the company’s stock worth $3,504,000 after buying an additional 724,133 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ALMS. Chardan Capital began coverage on Alumis in a report on Wednesday, January 21st. They issued a “buy” rating and a $37.00 price objective on the stock. Oppenheimer reiterated an “outperform” rating and set a $50.00 price target on shares of Alumis in a report on Tuesday, January 6th. Leerink Partners raised their price target on shares of Alumis from $20.00 to $32.00 and gave the stock an “outperform” rating in a report on Tuesday, January 6th. Guggenheim increased their target price on shares of Alumis from $18.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. Finally, Morgan Stanley boosted their price target on Alumis from $22.00 to $33.00 and gave the company an “overweight” rating in a report on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $39.00.

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.