Alumis (NASDAQ:ALMS) Shares Down 5.8% – Here’s Why

Alumis Inc. (NASDAQ:ALMS)’s share price dropped 5.8% on Monday . The company traded as low as $23.90 and last traded at $23.6190. Approximately 331,291 shares were traded during trading, a decline of 90% from the average daily volume of 3,179,234 shares. The stock had previously closed at $25.06.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ALMS shares. Wells Fargo & Company boosted their price objective on Alumis from $17.00 to $39.00 and gave the company an “overweight” rating in a research note on Tuesday, January 6th. Chardan Capital raised their target price on Alumis from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. Oppenheimer reiterated an “outperform” rating and issued a $50.00 target price on shares of Alumis in a report on Tuesday, January 6th. Raymond James Financial started coverage on Alumis in a research note on Tuesday, March 10th. They issued a “strong-buy” rating and a $46.00 price target on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $40.00 price objective (up from $20.00) on shares of Alumis in a research report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $39.60.

Alumis Stock Performance

The business has a 50 day moving average of $26.50 and a two-hundred day moving average of $14.11. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of -7.54 and a beta of -2.15.

Alumis (NASDAQ:ALMS) last announced its quarterly earnings data on Thursday, March 19th. The company reported ($0.95) EPS for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.05). The firm had revenue of $1.93 million during the quarter, compared to analyst estimates of $2.75 million. Alumis had a negative net margin of 1,011.75% and a negative return on equity of 116.97%. On average, equities analysts predict that Alumis Inc. will post -8.51 EPS for the current fiscal year.

Insider Buying and Selling at Alumis

In other Alumis news, Director James B. Tananbaum purchased 411,764 shares of Alumis stock in a transaction that occurred on Thursday, January 8th. The stock was acquired at an average price of $17.00 per share, with a total value of $6,999,988.00. Following the transaction, the director 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Srinivas Akkaraju purchased 588,235 shares of the firm’s stock in a transaction on Friday, January 9th. The shares were acquired at an average price of $17.00 per share, with a total value of $9,999,995.00. Following the purchase, 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 SEC filing for this purchase provides additional information. In the last quarter, insiders acquired 1,823,527 shares of company stock worth $30,999,959. 40.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alumis

A number of institutional investors and hedge funds have recently made changes to their positions in the business. MPM Bioimpact LLC purchased a new stake in shares of Alumis in the fourth quarter worth approximately $23,443,000. Orbimed Advisors LLC purchased a new stake in Alumis in the 2nd quarter valued at $5,779,000. Velan Capital Investment Management LP purchased a new stake in Alumis in the 2nd quarter valued at $4,863,000. Woodline Partners LP lifted its stake in Alumis by 809.7% during the 3rd quarter. Woodline Partners LP now owns 1,751,150 shares of the company’s stock valued at $6,987,000 after acquiring an additional 1,558,660 shares in the last quarter. Finally, Samsara Biocapital LLC lifted its stake in Alumis by 47.0% during the 2nd quarter. Samsara Biocapital LLC now owns 4,801,370 shares of the company’s stock valued at $14,404,000 after acquiring an additional 1,534,872 shares in the last quarter.

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.