Alumis' (ALMS) "Neutral" Rating Reaffirmed at HC Wainwright

Key Points

• HC Wainwright reaffirmed its “neutral” rating on Alumis, maintaining a $25 price target—roughly in line with the stock’s $24.99 price. The broader analyst consensus remains “Moderate Buy,” with an average target of $40.30.
• Alumis shares rose 2.4% to $24.99, but the company reported weaker-than-expected quarterly results, including an EPS loss of $0.78 versus the $0.73 consensus estimate and revenue of $1.66 million versus $3.47 million expected.
• Insiders sold nearly 20,000 shares worth approximately $534,000 over the past quarter, while institutional ownership activity included a new $231.3 million stake by BlackRock and increased holdings from several other investment firms.

Alumis (NASDAQ:ALMS - Get Free Report)'s stock had its "neutral" rating reiterated by analysts at HC Wainwright in a research note issued on Friday,Benzinga reports. They presently have a $25.00 price target on the stock. HC Wainwright's price target suggests a potential upside of 0.04% from the stock's current price.

ALMS has been the subject of several other reports. Guggenheim raised their price objective on Alumis from $32.00 to $34.00 and gave the company a "buy" rating in a research note on Friday, May 15th. Weiss Ratings reissued a "sell (d-)" rating on shares of Alumis in a report on Tuesday, July 7th. Chardan Capital raised their price target on Alumis from $38.00 to $40.00 and gave the company a "buy" rating in a research report on Tuesday, May 19th. Wall Street Zen downgraded Alumis from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. Finally, Wells Fargo & Company boosted their price objective on shares of Alumis from $49.00 to $51.00 and gave the stock an "overweight" rating in a research report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $40.30.

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Alumis Stock Up 2.4%

Shares of NASDAQ ALMS traded up $0.58 during midday trading on Friday, hitting $24.99. The company had a trading volume of 548,883 shares, compared to its average volume of 1,981,590. The firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of -12.64 and a beta of -0.69. Alumis has a twelve month low of $3.76 and a twelve month high of $31.35. The business has a 50-day simple moving average of $26.06 and a two-hundred day simple moving average of $25.27.

Alumis (NASDAQ:ALMS - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.73) by ($0.05). Alumis had a negative net margin of 2,825.70% and a negative return on equity of 88.79%. The company had revenue of $1.66 million during the quarter, compared to analysts' expectations of $3.47 million. On average, equities analysts forecast that Alumis will post -2.87 EPS for the current year.

Insider Buying and Selling at Alumis

In other Alumis news, insider Jorn Drappa sold 2,447 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 value of $64,527.39. Following the transaction, the insider directly owned 56,892 shares in the company, valued at approximately $1,500,242.04. This represents a 4.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Roy C. Hardiman sold 2,692 shares of the firm'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 $70,988.04. Following the sale, the insider directly owned 207,746 shares in the company, valued at $5,478,262.02. This represents a 1.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 19,953 shares of company stock valued at $534,311. 33.70% of the stock is owned by company insiders.

Institutional Trading of Alumis

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Alumis during the second quarter worth $231,259,000. Samsara Biocapital LLC lifted its position in Alumis by 19.9% during the fourth quarter. Samsara Biocapital LLC now owns 5,756,984 shares of the company's stock worth $56,188,000 after buying an additional 955,614 shares during the period. Vanguard Group Inc. lifted its position in Alumis by 18.4% during the third quarter. Vanguard Group Inc. now owns 4,029,615 shares of the company's stock worth $16,078,000 after buying an additional 625,404 shares during the period. Cormorant Asset Management LP boosted its stake in Alumis by 69.3% in the 4th quarter. Cormorant Asset Management LP now owns 3,635,596 shares of the company's stock worth $35,483,000 after buying an additional 1,488,200 shares during the last quarter. Finally, Octagon Capital Advisors LP grew its holdings in Alumis by 11.9% in the 1st quarter. Octagon Capital Advisors LP now owns 2,830,700 shares of the company's stock valued at $62,360,000 after buying an additional 300,000 shares during the period.

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.

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