Alumis (NASDAQ:ALMS) Stock Price Down 3.7% – Should You Sell?

Alumis Inc. (NASDAQ:ALMS) shares dropped 3.7% during trading on Tuesday . The company traded as low as $10.15 and last traded at $10.0610. Approximately 191,011 shares changed hands during trading, a decline of 75% from the average daily volume of 759,305 shares. The stock had previously closed at $10.45.

Analyst Ratings Changes

Several research analysts recently issued reports on ALMS shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alumis in a research report on Monday, December 22nd. Wall Street Zen raised shares of Alumis from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. Finally, HC Wainwright increased their target price on shares of Alumis from $14.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, December 18th. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Alumis presently has an average rating of “Moderate Buy” and an average price target of $20.40.

Alumis Stock Performance

The stock has a market cap of $1.03 billion, a P/E ratio of -2.43 and a beta of -1.91. The business has a 50 day simple moving average of $7.68 and a 200-day simple moving average of $5.31.

Alumis (NASDAQ:ALMS) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($1.06) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.14). The business had revenue of $2.07 million for the quarter, compared to analyst estimates of $3.14 million. On average, sell-side analysts predict that Alumis Inc. will post -8.51 earnings per share for the current fiscal year.

Insider Transactions at Alumis

In other news, major shareholder Foresite Capital Management Vi bought 200,000 shares of the stock in a transaction on Monday, November 17th. The shares were purchased at an average cost of $5.59 per share, for a total transaction of $1,118,000.00. Following the completion of the purchase, the insider directly owned 2,234,129 shares in the company, valued at $12,488,781.11. This represents a 9.83% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Srinivas Akkaraju purchased 276,179 shares of the business’s stock in a transaction dated Thursday, November 13th. The shares were purchased at an average price of $5.25 per share, with a total value of $1,449,939.75. Following the purchase, the director directly owned 276,179 shares in the company, valued at $1,449,939.75. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 2,788,875 shares of company stock worth $18,352,357 in the last ninety days. Company insiders own 40.70% of the company’s stock.

Hedge Funds Weigh In On Alumis

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALMS. Stonepine Capital Management LLC bought a new stake in Alumis during the 2nd quarter valued at $1,049,000. Trium Capital LLP grew its position in shares of Alumis by 17.9% in the third quarter. Trium Capital LLP now owns 3,122,111 shares of the company’s stock valued at $12,457,000 after purchasing an additional 474,072 shares in the last quarter. General Atlantic L.P. bought a new stake in shares of Alumis during the 2nd quarter valued at $3,893,000. Velan Capital Investment Management LP purchased a new stake in Alumis during the 2nd quarter worth about $4,863,000. Finally, Corebridge Financial Inc. boosted its stake in Alumis by 53.0% in the 1st quarter. Corebridge Financial Inc. now owns 10,658 shares of the company’s stock worth $65,000 after purchasing an additional 3,693 shares during the period.

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.