Insider Selling: Alumis (NASDAQ:ALMS) Insider Sells $35,968.68 in Stock

Alumis Inc. (NASDAQ:ALMS) insider Sanam Pangali sold 1,364 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $26.37, for a total value of $35,968.68. Following the completion of the transaction, the insider directly owned 9,747 shares in the company, valued at approximately $257,028.39. This represents a 12.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Sanam Pangali also recently made the following trade(s):

• On Monday, July 6th, Sanam Pangali sold 5,000 shares of Alumis stock. The shares were sold at an average price of $28.00, for a total transaction of $140,000.00.

Alumis Price Performance

Shares of Alumis stock remained flat at $27.12 during trading on Wednesday. The stock had a trading volume of 629,130 shares, compared to its average volume of 2,037,268. Alumis Inc. has a 52-week low of $3.76 and a 52-week high of $31.35. The firm’s 50-day moving average price is $25.26 and its two-hundred day moving average price is $25.20. The firm has a market cap of $3.46 billion, a P/E ratio of -13.70 and a beta of -0.69.

Alumis (NASDAQ:ALMS) last posted its earnings results on Thursday, May 14th. The company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.01). The firm had revenue of $1.74 million during 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%. On average, sell-side analysts predict that Alumis Inc. will post -2.87 EPS for the current year.

Analyst Upgrades and Downgrades

ALMS has been the subject of several research reports. Morgan Stanley reiterated an “overweight” rating and set a $39.00 price objective on shares of Alumis in a research report on Friday, May 15th. Wall Street Zen cut Alumis from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Citigroup reaffirmed a “buy” rating on shares of Alumis in a research note on Tuesday, May 19th. Guggenheim lifted their target price on Alumis from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Alumis in a research report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Alumis presently has an average rating of “Moderate Buy” and a consensus price target of $40.30.

Institutional Investors Weigh In On Alumis

Hedge funds and other institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. boosted its holdings in Alumis by 320.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,419 shares of the company’s stock valued at $26,000 after acquiring an additional 4,894 shares during the period. New York State Common Retirement Fund increased its stake in Alumis by 173.7% in the second quarter. New York State Common Retirement Fund now owns 11,767 shares of the company’s stock worth $35,000 after purchasing an additional 7,467 shares during the period. KBC Group NV bought a new stake in shares of Alumis during the first quarter worth $42,000. Strs Ohio lifted its position in shares of Alumis by 300.0% during the first quarter. Strs Ohio now owns 2,000 shares of the company’s stock worth $44,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Alumis by 26.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,724 shares of the company’s stock valued at $46,000 after purchasing an additional 979 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.