Insider Selling: Alumis (NASDAQ:ALMS) Insider Sells $64,527.39 in Stock

Alumis Inc. (NASDAQ:ALMS) insider Jorn Drappa sold 2,447 shares of Alumis stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $26.37, for a total transaction of $64,527.39. Following the completion of the transaction, the insider directly owned 56,892 shares in the company, valued at approximately $1,500,242.04. The trade was a 4.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Alumis Stock Down 0.7%

Shares of ALMS opened at $27.60 on Friday. The stock has a market capitalization of $3.52 billion, a P/E ratio of -13.94 and a beta of -0.69. Alumis Inc. has a twelve month low of $3.76 and a twelve month high of $31.35. The firm has a fifty day simple moving average of $25.62 and a two-hundred day simple moving average of $25.26.

Alumis (NASDAQ:ALMS) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.74) earnings per share (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 net margin of 2,825.70% and a negative return on equity of 88.79%. Sell-side analysts expect that Alumis Inc. will post -2.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ALMS shares. Citigroup reissued a “buy” rating on shares of Alumis in a research note on Tuesday, May 19th. Chardan Capital lifted their price target 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 reissued a “neutral” rating and set a $25.00 price objective on shares of Alumis in a research report on Monday, August 3rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $39.00 target price on shares of Alumis in a research report on Friday, May 15th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Alumis in a report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Alumis presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.30.

Institutional Investors Weigh In On Alumis

Several hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in Alumis in the second quarter worth about $231,259,000. Deutsche Bank AG purchased a new position in shares of Alumis during the second quarter valued at approximately $2,367,000. Bank of New York Mellon Corp purchased a new position in shares of Alumis during the second quarter valued at approximately $6,377,000. State of Wyoming bought a new stake in shares of Alumis in the 2nd quarter worth approximately $189,000. Finally, Handelsbanken Fonder AB purchased a new stake in shares of Alumis in the 2nd quarter worth approximately $1,024,000.

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.