Alumis Inc. (NASDAQ:ALMS) Receives $40.30 Consensus Target Price from Analysts

Alumis Inc. (NASDAQ:ALMS) has been given a consensus rating of “Moderate Buy” by the twelve analysts that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $40.30.

Several research analysts have recently issued reports on the company. Citigroup reaffirmed a “buy” rating on shares of Alumis in a research note on Tuesday, May 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Alumis in a research note on Tuesday, July 7th. Chardan Capital raised their target price on shares of Alumis from $38.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, May 19th. HC Wainwright restated a “neutral” rating and set a $25.00 target price on shares of Alumis in a research report on Monday. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $39.00 price target on shares of Alumis in a report on Friday, May 15th.

Insider Buying and Selling at Alumis

In related news, insider Sanam Pangali sold 5,000 shares of Alumis stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $28.00, for a total transaction of $140,000.00. Following the completion of the transaction, the insider directly owned 11,111 shares in the company, valued at $311,108. The trade was a 31.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 33.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alumis

A number of large investors have recently bought and sold shares of ALMS. KBC Group NV acquired a new position in shares of Alumis in the first quarter worth $42,000. Strs Ohio boosted its stake in shares of Alumis by 300.0% during the first quarter. Strs Ohio now owns 2,000 shares of the company’s stock valued at $44,000 after acquiring an additional 1,500 shares during the last quarter. State of Wyoming purchased a new stake in Alumis during the 1st quarter worth about $57,000. EverSource Wealth Advisors LLC raised its stake in Alumis by 600.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,131 shares of the company’s stock valued at $69,000 after purchasing an additional 2,684 shares during the last quarter. Finally, Assetmark Inc. acquired a new position in Alumis in the 1st quarter valued at about $92,000.

Alumis Price Performance

NASDAQ ALMS opened at $27.12 on Wednesday. Alumis has a 1-year low of $3.76 and a 1-year high of $31.35. The company has a market capitalization of $3.46 billion, a P/E ratio of -13.70 and a beta of -0.69. The business has a 50 day moving average price of $25.26 and a 200 day moving average price of $25.20.

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 for 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, research analysts expect that Alumis will post -2.87 earnings per share for the current fiscal year.

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.