Alumis Inc. (ALMS) – What Are Investment Firms Thinking About This Stock?

Shares of Alumis Inc. (NASDAQ:ALMS) have received a consensus recommendation of “Moderate Buy” from the fourteen research firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, eleven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $33.27.

Several brokerages have recently issued reports on ALMS. HC Wainwright restated a “buy” rating on shares of Alumis in a research note on Monday, October 5th. Wells Fargo & Company dropped their price objective on Alumis from $51.00 to $25.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 2nd. Guggenheim lowered Alumis from a “buy” rating to a “neutral” rating in a report on Thursday, September 3rd. Weiss Ratings downgraded Alumis from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, October 27th. Finally, Morgan Stanley lowered their target price on Alumis from $39.00 to $29.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 2nd.

Insider Buying and Selling at Alumis

In other news, Director Srinivas Akkaraju purchased 546,581 shares of the business’s stock in a transaction dated Tuesday, September 8th. The stock was bought at an average price of $10.63 per share, for a total transaction of $5,810,156.03. Following the purchase, the director owned 4,937,026 shares of the company’s stock, valued at $52,480,586.38. The trade was a 12.45% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders sold 99,754 shares of company stock worth $1,037,804. 33.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alumis

Several institutional investors have recently added to or reduced their stakes in ALMS. BlackRock Inc. bought a new position in Alumis during the second quarter worth about $231,259,000. venBio Partners LLC bought a new position in Alumis in the 2nd quarter worth approximately $127,429,401. Jupiter Topco LLC purchased a new position in Alumis in the 2nd quarter valued at approximately $66,238,000. Janus Henderson Group PLC purchased a new position in Alumis in the 1st quarter valued at approximately $46,790,000. Finally, Weiss Asset Management LP purchased a new position in Alumis in the 1st quarter valued at approximately $24,176,000.

Alumis Price Performance

Alumis stock opened at $6.40 on Friday. Alumis has a 52 week low of $4.60 and a 52 week high of $31.35. The company’s 50 day moving average price is $7.50 and its two-hundred day moving average price is $20.75.

Alumis (NASDAQ:ALMS) last released its earnings results 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). Alumis had a negative net margin of 5,933.46% and a negative return on equity of 93.15%. The business had revenue of $1.66 million during the quarter, compared to the consensus estimate of $3.65 million. On average, analysts forecast that Alumis will post -2.95 EPS for the current fiscal year.

About Alumis

Alumis is a clinical-stage biopharmaceutical company developing medicines for autoimmune and inflammatory diseases. The company uses data and computational tools to support the discovery and development of targeted treatments. Its lead investigational program, ESK-001, is an oral, selective TYK2 inhibitor being studied for conditions including plaque psoriasis and systemic lupus erythematosus. Alumis is also advancing other drug candidates for immune-mediated diseases. These medicines remain in clinical development and are not approved for commercial use.