Alumis (NASDAQ:ALMS) Insider Jorn Drappa Sells 2,447 Shares of Stock

Key Points

• Insider sale: Alumis insider Jorn Drappa sold 2,447 shares at an average price of $26.37, totaling $64,527.39. The transaction reduced his direct ownership by 4.12% to 56,892 shares.
• Stock performance: ALMS shares were flat at $27.12, with a market capitalization of approximately $3.46 billion. The stock has traded between $3.76 and $31.35 over the past year.
• Analyst outlook: Analysts maintain a consensus “Moderate Buy” rating, with an average price target of $40.30. Alumis recently reported a quarterly loss of $0.74 per share and revenue of $1.74 million, both slightly below expectations.

Alumis Inc. (NASDAQ:ALMS - Get Free Report) insider Jorn Drappa sold 2,447 shares of Alumis 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 $64,527.39. Following the sale, the insider directly owned 56,892 shares in the company, valued at approximately $1,500,242.04. The trade was a 4.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Alumis Stock Performance

Shares of ALMS stock remained flat at $27.12 during midday trading on Wednesday. The company's stock had a trading volume of 629,130 shares, compared to its average volume of 2,037,268. Alumis Inc. has a 1 year low of $3.76 and a 1 year high of $31.35. The firm has a market cap of $3.46 billion, a price-to-earnings ratio of -13.70 and a beta of -0.69. The company has a 50-day simple moving average of $25.26 and a 200 day simple moving average of $25.20.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Chardan Capital upped their price objective on shares of Alumis from $38.00 to $40.00 and gave the stock a "buy" rating in a report on Tuesday, May 19th. Morgan Stanley reiterated an "overweight" rating and set a $39.00 price objective on shares of Alumis in a research note on Friday, May 15th. Guggenheim increased their target price on Alumis from $32.00 to $34.00 and gave the stock a "buy" rating in a research note on Friday, May 15th. Citigroup reiterated a "buy" rating on shares of Alumis in a research note on Tuesday, May 19th. Finally, Wells Fargo & Company raised their price objective on shares of Alumis from $49.00 to $51.00 and gave the company an "overweight" rating in a research note 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 issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $40.30.

Institutional Investors Weigh In On Alumis

Large investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. lifted its holdings in shares of Alumis by 320.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,419 shares of the company's stock valued at $26,000 after buying an additional 4,894 shares during the period. New York State Common Retirement Fund increased 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 valued at $35,000 after acquiring an additional 7,467 shares during the last quarter. KBC Group NV purchased a new stake in Alumis during the first quarter valued at $42,000. Strs Ohio lifted its holdings in Alumis by 300.0% in the first quarter. Strs Ohio now owns 2,000 shares of the company's stock valued at $44,000 after acquiring an additional 1,500 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Alumis by 26.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,724 shares of the company's stock valued at $46,000 after acquiring an additional 979 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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