Alumis (NASDAQ:ALMS) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of Alumis (NASDAQ:ALMS) from a hold rating to a sell rating in a research report report published on Saturday,Wall Street Zen reports.

Several other research analysts also recently weighed in on ALMS. HC Wainwright raised shares of Alumis from a “neutral” rating to a “buy” rating and cut their target price for the company from $25.00 to $15.00 in a research note on Wednesday. Morgan Stanley decreased their price target on shares of Alumis from $39.00 to $29.00 and set an “overweight” rating on the stock in a research note on Wednesday. Citigroup reiterated an “overweight” rating on shares of Alumis in a report on Tuesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Alumis in a research report on Tuesday, July 7th. Finally, Robert W. Baird set a $27.00 price objective on shares of Alumis in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $33.27.

Alumis Stock Performance

Alumis stock opened at $11.10 on Friday. Alumis has a fifty-two week low of $3.76 and a fifty-two week high of $31.35. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of -2.88 and a beta of -0.81. The stock has a fifty day moving average of $25.33 and a two-hundred day moving average of $24.61.

Alumis (NASDAQ:ALMS) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($1.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.77) by ($0.34). The company had revenue of $1.66 million during the quarter, compared to analysts’ expectations of $3.65 million. Alumis had a negative net margin of 5,933.46% and a negative return on equity of 93.15%. On average, analysts forecast that Alumis will post -2.95 EPS for the current fiscal year.

Insider Transactions at Alumis

In other news, insider Roy C. Hardiman sold 2,692 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 transaction of $70,988.04. Following the transaction, the insider directly owned 207,746 shares in the company, valued at $5,478,262.02. This represents a 1.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Sanam Pangali sold 1,364 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $26.37, for a total transaction of $35,968.68. Following the transaction, the insider owned 9,747 shares in the company, valued at approximately $257,028.39. The trade was a 12.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 19,953 shares of company stock worth $534,311 in the last quarter. 33.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alumis

Several institutional investors and hedge funds have recently bought and sold shares of ALMS. BlackRock Inc. acquired a new position in shares of Alumis in the 2nd quarter valued at $231,259,000. venBio Partners LLC acquired a new stake in shares of Alumis during the 2nd quarter worth $127,429,401. MPM Bioimpact LLC acquired a new stake in shares of Alumis during the 4th quarter worth $23,443,000. Jupiter Topco LLC purchased a new position in shares of Alumis in the 2nd quarter worth $66,238,000. Finally, California State Teachers Retirement System raised its position in shares of Alumis by 2,643.4% in the 2nd quarter. California State Teachers Retirement System now owns 2,217,939 shares of the company’s stock worth $62,413,000 after buying an additional 2,137,094 shares during the period.

More Alumis News

Here are the key news stories impacting Alumis this week:

• Positive Sentiment: HC Wainwright upgraded its rating on Alumis. The upgrade helped support an earlier rebound in the shares, although its effect was subsequently overshadowed by the lupus-trial news. Alumis Stock Rating Upgraded by HC Wainwright
• Positive Sentiment: Alumis will participate in several September investor conferences. These events could give management an opportunity to explain the clinical results, discuss its broader pipeline and outline its strategy for using biomarker data to identify potentially responsive lupus patients. Alumis to Participate in Upcoming September Investor Conferences
• Neutral Sentiment: Options activity was unusually high. Elevated options trading indicates increased investor positioning and volatility following the clinical announcement, but it does not establish a clear directional outlook. Alumis Target of Unusually Large Options Trading
• Negative Sentiment: Alumis’ Phase 2b lupus study missed its key endpoints. The mixed data for the company’s lead SLE treatment raised concerns about the drug’s efficacy and commercial prospects, triggering a sharp decline in the stock. Management’s potential biomarker-based development strategy may preserve a path forward, but it also adds uncertainty and could require additional clinical work. Alumis Lead Lupus Drug Missed Phase 2b Trial Endpoints
• Negative Sentiment: Guggenheim downgraded Alumis from Buy to Neutral after the trial setback. The downgrade reflects reduced confidence in the lupus program and likely contributed to continued selling pressure. Additional analyst commentary has focused on the implications of the clinical miss for valuation and the company’s pipeline. Alumis Downgraded at Guggenheim

Alumis Company Profile

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.