Alumis Inc. (NASDAQ:ALMS) Receives $39.60 Consensus Target Price from Analysts

Shares of Alumis Inc. (NASDAQ:ALMS) have been assigned an average rating of “Moderate Buy” from the twelve ratings firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $39.60.

ALMS has been the subject of a number of research reports. Loop Capital set a $37.00 target price on Alumis in a report on Wednesday, January 21st. Chardan Capital upped their price objective on Alumis from $37.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alumis in a report on Monday, December 29th. Wells Fargo & Company lifted their target price on Alumis from $17.00 to $39.00 and gave the company an “overweight” rating in a research report on Tuesday, January 6th. Finally, Guggenheim boosted their target price on Alumis from $18.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th.

Alumis Stock Performance

Shares of ALMS stock opened at $24.80 on Thursday. Alumis has a 52-week low of $2.76 and a 52-week high of $30.60. The firm has a fifty day moving average of $26.57 and a 200-day moving average of $14.48. The stock has a market cap of $2.59 billion, a price-to-earnings ratio of -8.10 and a beta of -2.15.

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

Insider Buying and Selling at Alumis

In other Alumis news, Director Srinivas Akkaraju bought 588,235 shares of the firm’s 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 transaction, the director owned 1,853,488 shares in the company, valued at approximately $31,509,296. This trade represents a 46.49% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Foresite Capital Management Vi purchased 411,764 shares of the business’s stock in a transaction on Thursday, January 8th. The shares were acquired at an average cost of $17.00 per share, for a total transaction of $6,999,988.00. Following the completion of the transaction, the insider directly owned 5,702,536 shares in the company, valued at approximately $96,943,112. This represents a 7.78% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have acquired 1,823,527 shares of company stock worth $30,999,959. Company insiders own 40.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ALMS. Virtu Financial LLC bought a new stake in shares of Alumis during the 4th quarter worth approximately $491,000. Invesco Ltd. grew its stake in shares of Alumis by 225.6% in the fourth quarter. Invesco Ltd. now owns 421,819 shares of the company’s stock valued at $4,117,000 after buying an additional 292,250 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of Alumis in the fourth quarter valued at $146,000. Virtus Investment Advisers LLC acquired a new position in Alumis during the fourth quarter worth $226,000. Finally, Wellington Management Group LLP raised its position in Alumis by 2.2% during the fourth quarter. Wellington Management Group LLP now owns 169,093 shares of the company’s stock worth $1,650,000 after acquiring an additional 3,590 shares in the last quarter.

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.