Alumis (NASDAQ:ALMS) Stock Price Down 4.1% – What’s Next?

Alumis Inc. (NASDAQ:ALMS) dropped 4.1% during trading on Monday . The stock traded as low as $25.81 and last traded at $27.08. 280,919 shares traded hands during trading, a decline of 86% from the average session volume of 2,047,684 shares. The stock had previously closed at $28.25.

Analyst Ratings Changes

Several brokerages recently commented on ALMS. Citigroup reaffirmed a “buy” rating on shares of Alumis in a research report on Tuesday, May 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alumis in a report on Tuesday, July 7th. Guggenheim raised their target price on shares of Alumis from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Chardan Capital boosted their price objective on Alumis from $38.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, May 19th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $39.00 target price on shares of Alumis in a research report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Alumis has a consensus rating of “Moderate Buy” and a consensus price target of $40.30.

Alumis Stock Down 10.3%

The stock has a 50 day simple moving average of $25.08 and a 200 day simple moving average of $25.15. The company has a market cap of $3.23 billion, a price-to-earnings ratio of -13.03 and a beta of -0.73.

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 the consensus estimate of ($0.73) by ($0.01). The firm had revenue of $1.74 million for the quarter, compared to analysts’ expectations of $2.10 million. Alumis had a negative return on equity of 88.79% and a negative net margin of 2,825.70%. As a group, equities research analysts expect that Alumis Inc. will post -2.87 EPS for the current fiscal year.

Insider Activity at Alumis

In other news, insider Sanam Pangali sold 5,000 shares of the business’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $28.00, for a total value of $140,000.00. Following the completion of the sale, the insider owned 11,111 shares of the company’s stock, valued at approximately $311,108. The trade was a 31.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 33.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Alumis by 64.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,535 shares of the company’s stock valued at $77,000 after acquiring an additional 4,926 shares during the period. Goldman Sachs Group Inc. increased its holdings in Alumis by 24.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 61,645 shares of the company’s stock valued at $378,000 after buying an additional 11,949 shares during the period. Jane Street Group LLC acquired a new stake in Alumis in the 1st 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 acquiring an additional 2,949 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Alumis by 163.2% during the 2nd 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 during the period.

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.