Alumis’ (ALMS) “Buy” Rating Reaffirmed at Chardan Capital

Alumis (NASDAQ:ALMS)‘s stock had its “buy” rating reissued by Chardan Capital in a research note issued on Monday,Benzinga reports. They presently have a $38.00 price target on the stock. Chardan Capital’s target price would indicate a potential upside of 53.23% from the stock’s current price.

Several other brokerages have also weighed in on ALMS. Weiss Ratings reissued a “sell (d-)” rating on shares of Alumis in a report on Monday, December 29th. Leerink Partners increased their target price on shares of Alumis from $20.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 6th. Oppenheimer reiterated an “outperform” rating and issued a $50.00 target price on shares of Alumis in a research note on Tuesday, January 6th. HC Wainwright lowered their price target on shares of Alumis from $40.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Wells Fargo & Company upped their price target on shares of Alumis from $17.00 to $39.00 and gave the company an “overweight” rating in a research note on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.10.

Alumis Stock Performance

Alumis stock opened at $24.80 on Monday. The business’s 50 day simple moving average is $26.57 and its 200 day simple moving average is $14.56. Alumis has a 12 month low of $2.76 and a 12 month high of $30.60. The company has a market cap of $2.59 billion, a price-to-earnings ratio of -8.10 and a beta of -2.15.

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

Insider Activity

In other Alumis news, major shareholder Foresite Labs, Llc purchased 411,764 shares of the stock in a transaction on Thursday, January 8th. The shares were purchased at an average price 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 in the company, valued at approximately $96,943,112. The trade was a 7.78% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James B. Tananbaum purchased 411,764 shares of the stock in a transaction on Thursday, January 8th. The stock was acquired at an average cost of $17.00 per share, for a total transaction of $6,999,988.00. Following the acquisition, the director owned 5,702,536 shares in the company, valued at approximately $96,943,112. This represents a 7.78% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders acquired 1,823,527 shares of company stock worth $30,999,959. Insiders own 40.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. MPM Bioimpact LLC bought a new stake in Alumis in the fourth quarter worth $23,443,000. Orbimed Advisors LLC purchased a new position in shares of Alumis in the second quarter worth about $5,779,000. Velan Capital Investment Management LP bought a new stake in shares of Alumis in the 2nd quarter valued at about $4,863,000. Woodline Partners LP lifted its stake in shares of Alumis by 809.7% in the 3rd quarter. Woodline Partners LP now owns 1,751,150 shares of the company’s stock valued at $6,987,000 after acquiring an additional 1,558,660 shares during the last quarter. Finally, Samsara Biocapital LLC boosted its holdings in Alumis by 47.0% during the 2nd quarter. Samsara Biocapital LLC now owns 4,801,370 shares of the company’s stock valued at $14,404,000 after acquiring an additional 1,534,872 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.