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

Key Points

• Analysts hold a “Moderate Buy” consensus on Alumis, with nine buy ratings, one strong buy, one hold and one sell among 12 firms. The average 12-month price target is $40.30, above the stock’s $27.03 opening price.
• Recent analyst actions were mixed: HC Wainwright downgraded Alumis to neutral with a $25 target, while Chardan raised its target to $40; Morgan Stanley and Citigroup maintained bullish views, and Weiss Ratings reiterated a sell rating.
• Alumis reported a quarterly loss of $0.74 per share versus the $0.73 consensus estimate and revenue of $1.74 million, below the $2.10 million forecast. An insider also sold 5,000 shares at $28, while several institutional investors increased their holdings.

Shares of Alumis Inc. (NASDAQ:ALMS - Get Free Report) have earned an average rating of "Moderate Buy" from the twelve ratings firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $40.30.

Several equities research analysts recently weighed in on ALMS shares. HC Wainwright cut shares of Alumis from a "buy" rating to a "neutral" rating and set a $25.00 price target on the stock. in a research report on Friday, May 15th. Chardan Capital increased their price objective on shares of Alumis from $38.00 to $40.00 and gave the company a "buy" rating in a research report on Tuesday, May 19th. Citigroup reissued a "buy" rating on shares of Alumis in a research note on Tuesday, May 19th. Morgan Stanley restated an "overweight" rating and issued a $39.00 target price on shares of Alumis in a report on Friday, May 15th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Alumis in a research report on Tuesday, July 7th.

Insider Buying and Selling

In other Alumis news, insider Sanam Pangali sold 5,000 shares of the business's 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 sale, the insider directly owned 11,111 shares of the company's stock, valued at $311,108. The trade was a 31.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 33.70% of the company's stock.

Institutional Investors Weigh In On Alumis

Several institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Alumis by 64.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,535 shares of the company's stock valued at $77,000 after purchasing an additional 4,926 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Alumis by 24.0% in the first quarter. Goldman Sachs Group Inc. now owns 61,645 shares of the company's stock worth $378,000 after buying an additional 11,949 shares during the last quarter. Jane Street Group LLC bought a new stake in Alumis in the first quarter worth $111,000. Rhumbline Advisers boosted its stake in Alumis by 21.7% during the first quarter. Rhumbline Advisers now owns 16,543 shares of the company's stock worth $102,000 after buying an additional 2,949 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Alumis by 163.2% during the second quarter. Geode Capital Management LLC now owns 1,167,832 shares of the company's stock worth $3,504,000 after buying an additional 724,133 shares during the period.

Alumis Trading Down 0.2%

Shares of Alumis stock opened at $27.03 on Wednesday. The firm has a market cap of $3.45 billion, a PE ratio of -13.65 and a beta of -0.73. The stock has a 50 day moving average of $24.73 and a 200 day moving average of $24.98. Alumis has a 12 month low of $3.76 and a 12 month high of $31.35.

Alumis (NASDAQ:ALMS - Get Free Report) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.73) by ($0.01). The firm had revenue of $1.74 million during the quarter, compared to the consensus estimate of $2.10 million. Alumis had a negative return on equity of 88.79% and a negative net margin of 2,825.70%. As a group, equities research analysts forecast that Alumis will post -2.87 earnings per share for the current fiscal year.

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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