Alumis (NASDAQ:ALMS) Earns Sell (E+) Rating from Weiss Ratings

Key Points

• Alumis has received a "sell (E+)" rating from Weiss Ratings, indicating a negative outlook for the stock amidst mixed analyst ratings.
• Despite the negative rating from Weiss, several firms have rated Alumis as a "buy," with price targets ranging from $14.00 to $18.00.
• Alumis' stock recently traded at $4.43 after a 1.8% decline, having reported a substantial earnings miss and a revenue exceeding analyst estimates during the last earnings call.

Alumis (NASDAQ:ALMS - Get Free Report)'s stock had its "sell (e+)" rating reissued by equities researchers at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

ALMS has been the subject of several other reports. Wells Fargo & Company started coverage on Alumis in a research report on Friday, July 25th. They issued an "overweight" rating and a $17.00 price target for the company. Guggenheim raised Alumis to a "buy" rating and set a $18.00 price target for the company in a research report on Tuesday, June 10th. Wall Street Zen raised Alumis from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 16th. HC Wainwright reissued a "buy" rating and issued a $14.00 price target on shares of Alumis in a research report on Thursday, August 14th. Finally, Morgan Stanley reduced their target price on Alumis from $23.00 to $22.00 and set an "overweight" rating on the stock in a research report on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $20.17.

Alumis Trading Down 1.8%

NASDAQ ALMS traded down $0.08 on Wednesday, reaching $4.43. 1,064,688 shares of the stock traded hands, compared to its average volume of 689,007. The company has a fifty day moving average price of $4.37 and a 200-day moving average price of $4.46. Alumis has a 12 month low of $2.76 and a 12 month high of $13.11.

Alumis (NASDAQ:ALMS - Get Free Report) last issued its earnings results on Wednesday, August 13th. The company reported ($1.17) earnings per share for the quarter, missing analysts' consensus estimates of ($1.11) by ($0.06). The business had revenue of $2.67 million during the quarter, compared to analyst estimates of $1.80 million. Analysts expect that Alumis will post -8.51 earnings per share for the current fiscal year.

Institutional Trading of Alumis

A number of hedge funds have recently modified their holdings of the stock. Kera Capital Partners Inc. purchased a new position in Alumis during the second quarter worth approximately $32,000. Police & Firemen s Retirement System of New Jersey boosted its position in Alumis by 199.7% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 10,753 shares of the company's stock worth $32,000 after purchasing an additional 7,165 shares in the last quarter. New York State Common Retirement Fund boosted its position in Alumis by 173.7% during the second quarter. New York State Common Retirement Fund now owns 11,767 shares of the company's stock worth $35,000 after purchasing an additional 7,467 shares in the last quarter. Western Wealth Management LLC purchased a new position in Alumis during the second quarter worth approximately $36,000. Finally, ProShare Advisors LLC purchased a new position in Alumis during the second quarter worth approximately $40,000.

About Alumis

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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