Alumis Inc. (NASDAQ:ALMS) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Analyst sentiment is moderately positive: Twelve analysts rate Alumis a consensus “Moderate Buy,” with eight buys, one strong buy, two holds and one sell. The average 12-month price target is $40.30, well above the reported $24.17 share price.
• Recent financial results fell short of expectations: Alumis reported a quarterly loss of $1.11 per share versus the expected $0.77 loss, while revenue of $1.66 million missed estimates of $3.65 million. Analysts expect a full-year loss of approximately $2.95 per share.
• Insiders have been selling shares: Company insiders sold 19,953 shares worth about $534,311 over the past 90 days, although insiders still own 33.7% of the stock. Several institutional investors, including major pension and investment firms, increased or initiated positions.

Shares of Alumis Inc. (NASDAQ:ALMS - Get Free Report) have received a consensus rating of "Moderate Buy" from the twelve research firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $40.30.

Several research firms recently issued reports on ALMS. Citigroup reaffirmed a "neutral" rating on shares of Alumis in a report on Monday, August 17th. Morgan Stanley reiterated an "overweight" rating and issued a $39.00 target price on shares of Alumis in a report on Friday, May 15th. Weiss Ratings reissued a "sell (d-)" rating on shares of Alumis in a research report on Tuesday, July 7th. Wells Fargo & Company upped their price target on shares of Alumis from $49.00 to $51.00 and gave the company an "overweight" rating in a report on Friday, May 15th. Finally, 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.

Alumis Stock Performance

ALMS opened at $24.17 on Friday. The firm has a market cap of $3.13 billion, a P/E ratio of -6.26 and a beta of -0.69. The business has a 50 day moving average price of $26.53 and a 200 day moving average price of $25.20. Alumis has a twelve month low of $3.76 and a twelve month high of $31.35.

Alumis (NASDAQ:ALMS - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($1.11) 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 company had revenue of $1.66 million for the quarter, compared to analyst estimates of $3.65 million. As a group, analysts anticipate that Alumis will post -2.95 earnings per share for the current fiscal year.

Insider Buying and Selling at Alumis

In related news, insider Sanam Pangali sold 5,000 shares of the stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $28.00, for a total transaction of $140,000.00. Following the completion of the sale, the insider owned 11,111 shares in the company, valued at $311,108. This represents a 31.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO John R. Schroer sold 3,282 shares of the firm's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $26.37, for a total value of $86,546.34. Following the completion of the sale, the chief financial officer directly owned 24,718 shares in the company, valued at $651,813.66. This trade represents a 11.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 19,953 shares of company stock worth $534,311 in the last ninety days. 33.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Alumis

Several hedge funds have recently modified their holdings of ALMS. California State Teachers Retirement System raised its stake in Alumis by 2,222.5% during the 1st quarter. California State Teachers Retirement System now owns 80,845 shares of the company's stock valued at $1,781,000 after purchasing an additional 77,364 shares during the last quarter. First Trust Advisors LP bought a new stake in Alumis in the 1st quarter valued at $1,456,000. The Manufacturers Life Insurance Company grew its position in Alumis by 775.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 154,634 shares of the company's stock worth $3,407,000 after purchasing an additional 136,973 shares during the last quarter. Swiss National Bank acquired a new stake in Alumis in the 1st quarter worth $2,815,000. Finally, Elmind Capital LP acquired a new stake in Alumis in the 1st quarter worth $2,864,000.

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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