Alumis (NASDAQ:ALMS) Shares Down 7.5% – Time to Sell?

Alumis Inc. (NASDAQ:ALMS) shares were down 7.5% during trading on Friday . The stock traded as low as $27.70 and last traded at $28.0360. Approximately 199,094 shares changed hands during trading, a decline of 91% from the average daily volume of 2,167,519 shares. The stock had previously closed at $30.30.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Guggenheim lifted their price objective on shares of Alumis from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Chardan Capital increased their target price on shares of Alumis from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, May 19th. Wall Street Zen lowered Alumis from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alumis in a research report on Tuesday. Finally, Oppenheimer upped their price target on Alumis from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Monday, March 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $40.30.

Alumis Trading Down 7.2%

The stock has a market cap of $3.58 billion, a P/E ratio of -14.09 and a beta of -0.73. The firm’s fifty day moving average is $23.60 and its 200 day moving average is $23.44.

Alumis (NASDAQ:ALMS) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.01). The firm had revenue of $1.74 million for the quarter, compared to the consensus estimate of $2.10 million. Alumis had a negative net margin of 2,825.70% and a negative return on equity of 88.79%. Research analysts forecast that Alumis Inc. will post -2.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Alumis

In related news, insider Sanam Pangali sold 5,000 shares of the stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $28.00, for a total transaction of $140,000.00. Following the completion of the sale, the insider owned 11,111 shares in the company, valued at $311,108. This represents a 31.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 33.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. KBC Group NV bought a new stake in shares of Alumis in the first quarter valued at approximately $42,000. Strs Ohio grew its stake in shares of Alumis by 300.0% in the first quarter. Strs Ohio now owns 2,000 shares of the company’s stock worth $44,000 after acquiring an additional 1,500 shares during the last quarter. State of Wyoming bought a new position in Alumis during the first quarter worth $57,000. EverSource Wealth Advisors LLC increased its position in Alumis by 600.4% during the first quarter. EverSource Wealth Advisors LLC now owns 3,131 shares of the company’s stock worth $69,000 after acquiring an additional 2,684 shares during the period. Finally, Assetmark Inc. acquired a new position in Alumis during the 1st quarter valued at $92,000.

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.