Alumis (NASDAQ:ALMS) Stock Price Down 9.6% – What’s Next?

Alumis Inc. (NASDAQ:ALMS)’s stock price was down 9.6% during trading on Tuesday . The stock traded as low as $23.80 and last traded at $24.89. 211,103 shares were traded during trading, a decline of 89% from the average daily volume of 1,997,921 shares. The stock had previously closed at $27.53.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alumis in a research note on Tuesday, July 7th. Wall Street Zen downgraded Alumis from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Guggenheim upped their target price on Alumis from $32.00 to $34.00 and gave the company a “buy” rating in a report on Friday, May 15th. Wells Fargo & Company raised their price target on Alumis from $49.00 to $51.00 and gave the company an “overweight” rating in a research report on Friday, May 15th. Finally, Citigroup reaffirmed a “buy” rating on shares of Alumis in a research note on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $40.30.

Alumis Price Performance

The firm’s 50-day moving average price is $25.98 and its 200 day moving average price is $25.27. The firm has a market capitalization of $3.26 billion, a price-to-earnings ratio of -12.90 and a beta of -0.69.

Alumis (NASDAQ:ALMS) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.01). Alumis had a negative return on equity of 88.79% and a negative net margin of 2,825.70%.The business had revenue of $1.74 million for the quarter, compared to analysts’ expectations of $2.10 million. On average, analysts predict that Alumis Inc. will post -2.87 earnings per share for the current fiscal year.

Insider Activity at Alumis

In other Alumis news, CFO John R. Schroer sold 3,282 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $26.37, for a total transaction of $86,546.34. Following the completion of the transaction, the chief financial officer owned 24,718 shares of the company’s stock, valued at approximately $651,813.66. This trade represents a 11.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Roy C. Hardiman sold 2,692 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $26.37, for a total value of $70,988.04. Following the completion of the transaction, the insider directly owned 207,746 shares of the company’s stock, valued at approximately $5,478,262.02. This trade represents a 1.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have 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 insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. KBC Group NV acquired a new stake in shares of Alumis during the 1st quarter worth about $42,000. Strs Ohio raised its position in shares of Alumis by 300.0% in the first 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. State of Wyoming acquired a new position in shares of Alumis in the first quarter valued at approximately $57,000. EverSource Wealth Advisors LLC lifted its stake in shares of Alumis by 600.4% during the first 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 period. Finally, Assetmark Inc. purchased a new position in shares of Alumis during the first quarter valued at approximately $92,000.

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.