Alumis (NASDAQ:ALMS) Releases Quarterly Earnings Results, Misses Expectations By $0.38 EPS

Alumis (NASDAQ:ALMS) released its quarterly earnings data on Thursday. The company reported ($1.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.38), FiscalAI reports. The business had revenue of $1.66 million for the quarter, compared to the consensus estimate of $3.47 million. Alumis had a negative net margin of 2,825.70% and a negative return on equity of 88.79%.

Alumis Price Performance

NASDAQ ALMS traded down $1.14 on Thursday, hitting $24.41. The stock had a trading volume of 831,497 shares, compared to its average volume of 1,991,042. The business’s fifty day moving average price is $25.98 and its 200 day moving average price is $25.27. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of -12.33 and a beta of -0.69. Alumis has a 52-week low of $3.76 and a 52-week high of $31.35.

Wall Street Analyst Weigh In

ALMS has been the topic of several recent research reports. Guggenheim increased their target price on Alumis from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Morgan Stanley reissued an “overweight” rating and issued a $39.00 price target on shares of Alumis in a research report on Friday, May 15th. HC Wainwright restated a “neutral” rating and set a $25.00 price objective on shares of Alumis in a research note on Monday, August 3rd. Citigroup reaffirmed a “buy” rating on shares of Alumis in a research report on Tuesday, May 19th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Alumis in a research note on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Alumis has an average rating of “Moderate Buy” and an average price target of $40.30.

Insider Activity

In related news, insider David M. Goldstein sold 2,596 shares of the company’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $26.37, for a total transaction of $68,456.52. Following the transaction, the insider directly owned 30,970 shares of the company’s stock, valued at $816,678.90. This represents a 7.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Mark Christopher Bradley sold 2,572 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $26.37, for a total value of $67,823.64. Following the completion of the sale, the insider owned 48,533 shares of the company’s stock, valued at approximately $1,279,815.21. This trade represents a 5.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 19,953 shares of company stock worth $534,311. Company insiders own 33.70% of the company’s stock.

Hedge Funds Weigh In On Alumis

Several hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Alumis by 64.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,535 shares of the company’s stock worth $77,000 after purchasing an additional 4,926 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Alumis by 24.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 61,645 shares of the company’s stock valued at $378,000 after purchasing an additional 11,949 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Alumis in the first quarter worth about $111,000. Rhumbline Advisers raised its stake in shares of Alumis by 21.7% in the first quarter. Rhumbline Advisers now owns 16,543 shares of the company’s stock worth $102,000 after purchasing an additional 2,949 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Alumis by 163.2% during the second quarter. Geode Capital Management LLC now owns 1,167,832 shares of the company’s stock worth $3,504,000 after purchasing an additional 724,133 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.