Alumis Inc. (NASDAQ:ALMS) Receives $33.27 Average PT from Brokerages

Alumis Inc. (NASDAQ:ALMS) has received a consensus rating of “Moderate Buy” from the thirteen brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, ten have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $33.2727.

ALMS has been the topic of a number of research reports. Wells Fargo & Company dropped their target price on shares of Alumis from $51.00 to $25.00 and set an “overweight” rating on the stock in a report on Wednesday, September 2nd. HC Wainwright upgraded shares of Alumis from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $25.00 to $15.00 in a research report on Wednesday, September 2nd. Robert W. Baird set a $27.00 price target on Alumis in a report on Tuesday, September 1st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Alumis in a research report on Wednesday, September 16th. Finally, Guggenheim lowered Alumis from a “buy” rating to a “neutral” rating in a research note on Thursday, September 3rd.

Alumis Stock Performance

ALMS opened at $7.90 on Thursday. The company has a market capitalization of $1.02 billion, a PE ratio of -2.05 and a beta of -0.81. The stock’s fifty day moving average is $21.16 and its 200-day moving average is $23.09. Alumis has a one year low of $3.76 and a one year high of $31.35.

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

Insiders Place Their Bets

In other Alumis news, insider Sanam Pangali sold 5,000 shares of the business’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $28.00, for a total transaction of $140,000.00. Following the sale, the insider owned 11,111 shares in the company, valued at approximately $311,108. The trade was a 31.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Roy C. Hardiman sold 2,692 shares of the company’s 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 sale, the insider directly owned 207,746 shares of the company’s stock, valued at $5,478,262.02. This represents a 1.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 116,084 shares of company stock worth $1,548,493 over the last three months. Company insiders own 33.70% of the company’s stock.

Institutional Investors Weigh In On Alumis

A number of large investors have recently made changes to their positions in ALMS. BlackRock Inc. acquired a new position in Alumis in the 2nd quarter worth approximately $231,259,000. venBio Partners LLC purchased a new position in Alumis during the 2nd quarter worth approximately $127,429,401. Cormorant Asset Management LP raised its stake in Alumis by 69.3% during the 4th quarter. Cormorant Asset Management LP now owns 3,635,596 shares of the company’s stock valued at $35,483,000 after purchasing an additional 1,488,200 shares during the period. Octagon Capital Advisors LP raised its stake in Alumis by 11.9% during the 1st quarter. Octagon Capital Advisors LP now owns 2,830,700 shares of the company’s stock valued at $62,360,000 after purchasing an additional 300,000 shares during the period. Finally, Jupiter Topco LLC purchased a new stake in shares of Alumis in the second quarter valued at $66,238,000.

Alumis Company Profile

Alumis, Inc is a clinical-stage biopharmaceutical company focused on developing oral therapies for immune-mediated diseases. The company’s lead investigational product is ESK-001, a selective allosteric tyrosine kinase 2 (TYK2) inhibitor designed to regulate immune signaling while potentially avoiding some safety limitations associated with broader immunosuppressive treatments.

ESK-001 is being evaluated in clinical trials for moderate-to-severe plaque psoriasis and systemic lupus erythematosus.