Alumis (NASDAQ:ALMS) Price Target Cut to $25.00 by Analysts at HC Wainwright

Alumis (NASDAQ:ALMS) had its target price lowered by investment analysts at HC Wainwright from $40.00 to $25.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price target points to a potential upside of 0.81% from the company’s current price.

ALMS has been the topic of several other reports. Wall Street Zen raised Alumis from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. Guggenheim increased their target price on Alumis from $18.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, January 7th. Loop Capital set a $37.00 price target on shares of Alumis in a research note on Wednesday, January 21st. Wells Fargo & Company boosted their price target on shares of Alumis from $17.00 to $39.00 and gave the stock an “overweight” rating in a report on Tuesday, January 6th. Finally, Stifel Nicolaus assumed coverage on shares of Alumis in a research report on Wednesday, February 25th. They set a “buy” rating and a $44.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.10.

Alumis Stock Performance

Shares of Alumis stock opened at $24.80 on Monday. The firm has a 50-day simple moving average of $26.57 and a two-hundred day simple moving average of $14.56. The company has a market cap of $2.59 billion, a P/E ratio of -8.10 and a beta of -2.15. Alumis has a fifty-two week low of $2.76 and a fifty-two week high of $30.60.

Alumis (NASDAQ:ALMS) last posted its earnings results on Thursday, March 19th. The company reported ($0.95) EPS for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.05). Alumis had a negative net margin of 1,011.75% and a negative return on equity of 116.97%. The business had revenue of $1.93 million for the quarter, compared to analyst estimates of $2.75 million. Equities research analysts forecast that Alumis will post -8.51 EPS for the current year.

Insider Transactions at Alumis

In other Alumis news, Director Srinivas Akkaraju bought 588,235 shares of the stock in a transaction on Friday, January 9th. The shares were bought at an average price of $17.00 per share, with a total value of $9,999,995.00. Following the purchase, the director directly owned 1,853,488 shares in the company, valued at $31,509,296. This trade represents a 46.49% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Foresite Labs, Llc bought 411,764 shares of the company’s stock in a transaction dated Thursday, January 8th. The shares were acquired at an average cost of $17.00 per share, with a total value of $6,999,988.00. Following the acquisition, the insider directly owned 5,702,536 shares of the company’s stock, valued at approximately $96,943,112. This represents a 7.78% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought a total of 1,823,527 shares of company stock valued at $30,999,959 over the last ninety days. Company insiders own 40.70% of the company’s stock.

Institutional Trading of Alumis

A number of hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. boosted its holdings in shares of Alumis by 320.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,419 shares of the company’s stock worth $26,000 after purchasing an additional 4,894 shares during the last quarter. Police & Firemen s Retirement System of New Jersey increased its holdings in shares of Alumis by 199.7% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 10,753 shares of the company’s stock valued at $32,000 after purchasing an additional 7,165 shares during the last quarter. New York State Common Retirement Fund boosted its stake in Alumis by 173.7% during the second quarter. New York State Common Retirement Fund now owns 11,767 shares of the company’s stock worth $35,000 after buying an additional 7,467 shares during the last quarter. CWM LLC grew its holdings in Alumis by 1,028.7% in the 3rd quarter. CWM LLC now owns 10,384 shares of the company’s stock valued at $41,000 after buying an additional 9,464 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Alumis by 26.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,724 shares of the company’s stock worth $46,000 after acquiring an additional 979 shares during the last quarter.

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.