Wall Street Zen Upgrades Alumis (NASDAQ:ALMS) to Hold

Alumis (NASDAQ:ALMS) was upgraded by stock analysts at Wall Street Zen from a “strong sell” rating to a “hold” rating in a research note issued to investors on Sunday.

Several other equities analysts have also commented on the stock. Citigroup restated a “neutral” rating on shares of Alumis in a research report on Monday, August 17th. Chardan Capital lifted their price objective on shares of Alumis from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, May 19th. HC Wainwright reissued a “neutral” rating and set a $25.00 target price on shares of Alumis in a research note on Friday, August 14th. Guggenheim upped their target price on shares of Alumis from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alumis in a report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Alumis has a consensus rating of “Moderate Buy” and a consensus target price of $40.30.

Alumis Stock Down 4.7%

Shares of NASDAQ ALMS opened at $23.03 on Friday. The firm’s 50-day moving average price is $26.53 and its two-hundred day moving average price is $25.16. Alumis has a 52-week low of $3.76 and a 52-week high of $31.35. The stock has a market capitalization of $2.98 billion, a P/E ratio of -5.97 and a beta of -0.69.

Alumis (NASDAQ:ALMS) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($1.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.77) by ($0.34). Alumis had a negative return on equity of 93.15% and a negative net margin of 5,933.46%.The company had revenue of $1.66 million during the quarter, compared to the consensus estimate of $3.65 million. As a group, equities research analysts expect that Alumis will post -2.95 earnings per share for the current year.

Insider Activity

In other news, insider Sanam Pangali sold 1,364 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $26.37, for a total transaction of $35,968.68. Following the sale, the insider owned 9,747 shares in the company, valued at $257,028.39. The trade was a 12.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark Christopher Bradley sold 2,572 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $26.37, for a total value of $67,823.64. Following the transaction, the insider directly owned 48,533 shares in the company, valued at $1,279,815.21. The trade was a 5.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 19,953 shares of company stock valued at $534,311 in the last ninety days. 33.70% of the stock is owned by company insiders.

Institutional Trading of Alumis

Several hedge funds and other institutional investors have recently modified their holdings of ALMS. Ieq Capital LLC grew its stake in Alumis by 4.1% in the fourth quarter. Ieq Capital LLC now owns 17,421 shares of the company’s stock valued at $170,000 after purchasing an additional 690 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Alumis by 26.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,724 shares of the company’s stock worth $46,000 after purchasing an additional 979 shares in the last quarter. Strs Ohio lifted its holdings in shares of Alumis by 300.0% during the 1st quarter. Strs Ohio now owns 2,000 shares of the company’s stock valued at $44,000 after buying an additional 1,500 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of Alumis by 12.4% during the 4th quarter. ProShare Advisors LLC now owns 14,627 shares of the company’s stock valued at $143,000 after buying an additional 1,618 shares during the last quarter. Finally, KBC Group NV bought a new stake in shares of Alumis in the 1st quarter valued at approximately $42,000.

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.