Alumis (NASDAQ:ALMS) Given "Sell (E+)" Rating at Weiss Ratings

Key Points

• Alumis (NASDAQ:ALMS) received a "sell (e+)" rating from Weiss Ratings, amidst mixed opinions from other analysts who have provided ratings ranging from "Strong Buy" to "Sell."
• The company's recent earnings report showed a loss of ($1.17) per share, which was below analysts' expectations, although revenue exceeded estimates at $2.67 million.
• Alumis' stock price has seen volatility, trading at $4.52 with a 12-month range between $2.76 and $13.00, indicating significant fluctuations over the past year.

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

Several other equities research analysts also recently weighed in on ALMS. Wall Street Zen raised Alumis from a "strong sell" rating to a "hold" rating in a report on Saturday, August 16th. Morgan Stanley lowered their price target on Alumis from $23.00 to $22.00 and set an "overweight" rating for the company in a report on Friday, August 15th. HC Wainwright reissued a "buy" rating and issued a $14.00 price target on shares of Alumis in a report on Thursday, August 14th. Finally, Wells Fargo & Company assumed coverage on Alumis in a report on Friday, July 25th. They set an "overweight" rating and a $17.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.17.

Alumis Price Performance

ALMS stock traded down $0.10 during trading on Friday, reaching $4.52. 224,750 shares of the company traded hands, compared to its average volume of 681,772. Alumis has a 12 month low of $2.76 and a 12 month high of $13.00. The business has a 50 day simple moving average of $4.44 and a 200 day simple moving average of $4.29.

Alumis (NASDAQ:ALMS - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $2.67 million during the quarter, compared to the consensus estimate of $1.80 million. Research analysts predict that Alumis will post -8.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers raised its position in Alumis by 21.7% during the first quarter. Rhumbline Advisers now owns 16,543 shares of the company's stock valued at $102,000 after acquiring an additional 2,949 shares in the last quarter. Corebridge Financial Inc. raised its position in Alumis by 53.0% during the first quarter. Corebridge Financial Inc. now owns 10,658 shares of the company's stock valued at $65,000 after acquiring an additional 3,693 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Alumis by 64.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,535 shares of the company's stock valued at $77,000 after acquiring an additional 4,926 shares in the last quarter. Police & Firemen s Retirement System of New Jersey increased its position in shares of Alumis by 199.7% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 10,753 shares of the company's stock valued at $32,000 after buying an additional 7,165 shares in the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of Alumis by 173.7% in the second quarter. New York State Common Retirement Fund now owns 11,767 shares of the company's stock valued at $35,000 after buying an additional 7,467 shares in the last quarter.

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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