Alumis Inc. (ALMS) – What Are Analysts Thinking About This Stock?

Alumis Inc. (NASDAQ:ALMS) has earned an average recommendation of “Moderate Buy” from the fourteen ratings firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, eleven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $33.27.

ALMS has been the subject of several research reports. Weiss Ratings lowered shares of Alumis from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, October 27th. Citigroup reiterated an “overweight” rating on shares of Alumis in a report on Tuesday, September 1st. Oppenheimer cut their target price on shares of Alumis from $55.00 to $37.00 and set an “outperform” rating for the company in a research note on Wednesday, September 2nd. HC Wainwright reaffirmed a “buy” rating on shares of Alumis in a research report on Monday, October 5th. Finally, Benchmark reaffirmed a “buy” rating on shares of Alumis in a research report on Monday, October 5th.

Alumis Stock Down 7.4%

Shares of NASDAQ:ALMS opened at $6.13 on Friday. The company has a 50 day moving average of $7.36 and a 200-day moving average of $20.56. Alumis has a twelve month low of $4.60 and a twelve month high of $31.35.

Alumis (NASDAQ:ALMS) last announced its earnings results on Thursday, November 12th. The company reported ($0.73) earnings per share for the quarter, beating the consensus estimate of ($0.76) by $0.03. Alumis had a negative return on equity of 93.15% and a negative net margin of 5,933.46%. The business had revenue of $1.91 million during the quarter, compared to analysts’ expectations of $1.90 million. On average, analysts expect that Alumis will post -2.95 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Srinivas Akkaraju purchased 546,581 shares of the company’s stock in a transaction that occurred on Tuesday, September 8th. The shares were purchased at an average price of $10.63 per share, with a total value of $5,810,156.03. Following the purchase, the director owned 4,937,026 shares of the company’s stock, valued at $52,480,586.38. This trade represents a 12.45% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last 90 days, insiders sold 99,754 shares of company stock valued at $1,037,804. Company insiders own 33.70% of the company’s stock.

Institutional Trading of Alumis

Several hedge funds and other institutional investors have recently modified their holdings of ALMS. Integrated Wealth Concepts LLC acquired a new stake in shares of Alumis during the 2nd quarter valued at $33,000. KBC Group NV purchased a new position in shares of Alumis during the 1st quarter valued at $42,000. Strs Ohio increased 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 acquired a new position in Alumis in the 1st quarter worth about $57,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Alumis by 600.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,131 shares of the company’s stock valued at $69,000 after buying an additional 2,684 shares during the last quarter.

Alumis Company Profile

Alumis is a clinical-stage biopharmaceutical company developing medicines for autoimmune and inflammatory diseases. The company uses data and computational tools to support the discovery and development of targeted treatments. Its lead investigational program, ESK-001, is an oral, selective TYK2 inhibitor being studied for conditions including plaque psoriasis and systemic lupus erythematosus. Alumis is also advancing other drug candidates for immune-mediated diseases. These medicines remain in clinical development and are not approved for commercial use.