Alumis (NASDAQ:ALMS) Shares Down 4.1% - Here's What Happened

Key Points

• Shares fell 4.1% to about $22.42 mid‑day on Monday, with only 101,673 shares traded — roughly a 97% decline from the average session volume.
• Analyst sentiment is broadly positive: one Strong Buy, ten Buys and one Sell give an average "Moderate Buy" rating and an average price target of $38.60, with individual targets ranging from about $25 to $55.
• Fundamentals mixed — earnings miss but insider buying: Alumis reported a $0.95 loss per share (vs. $0.90 expected) and $1.93M revenue (vs. $2.75M expected) and shows deeply negative margins, yet insiders purchased ~1.82M shares in the quarter, raising insider ownership to 40.7%.

Alumis Inc. (NASDAQ:ALMS - Get Free Report)'s share price fell 4.1% during mid-day trading on Monday . The stock traded as low as $22.25 and last traded at $22.4150. 101,673 shares were traded during trading, a decline of 97% from the average session volume of 3,025,076 shares. The stock had previously closed at $23.37.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ALMS. HC Wainwright cut their price objective on shares of Alumis from $40.00 to $25.00 and set a "buy" rating for the company in a research report on Monday, March 30th. Loop Capital set a $37.00 price objective on Alumis in a report on Wednesday, January 21st. Raymond James Financial started coverage on Alumis in a research note on Tuesday, March 10th. They issued a "strong-buy" rating and a $46.00 price objective on the stock. Oppenheimer lifted their price target on shares of Alumis from $50.00 to $55.00 and gave the company an "outperform" rating in a research report on Monday, March 30th. Finally, Stifel Nicolaus assumed coverage on shares of Alumis in a research report on Wednesday, February 25th. They issued a "buy" rating and a $44.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $38.60.

Alumis Stock Down 5.9%

The firm's 50 day moving average price is $26.25 and its two-hundred day moving average price is $15.19. The firm has a market capitalization of $2.80 billion, a PE ratio of -7.21 and a beta of -0.64.

Alumis (NASDAQ:ALMS - Get Free Report) last issued its quarterly earnings data on Thursday, March 19th. The company reported ($0.95) EPS for the quarter, missing analysts' consensus estimates of ($0.90) by ($0.05). The firm had revenue of $1.93 million during the quarter, compared to analyst estimates of $2.75 million. Alumis had a negative return on equity of 116.97% and a negative net margin of 1,011.75%. On average, sell-side analysts anticipate that Alumis Inc. will post -8.51 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Srinivas Akkaraju purchased 588,235 shares of the firm's stock in a transaction dated Friday, January 9th. The stock was acquired at an average price of $17.00 per share, with a total value of $9,999,995.00. Following the completion of the transaction, the director owned 1,853,488 shares of the company's stock, valued at $31,509,296. This represents a 46.49% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Foresite Capital Management Vi purchased 411,764 shares of the company's stock in a transaction that occurred on Thursday, January 8th. The stock was bought at an average price of $17.00 per share, with a total value of $6,999,988.00. Following the purchase, the insider owned 5,702,536 shares of the company's stock, valued at approximately $96,943,112. The trade was a 7.78% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 1,823,527 shares of company stock worth $30,999,959 in the last quarter. Company insiders own 40.70% of the company's stock.

Hedge Funds Weigh In On Alumis

Large investors have recently modified their holdings of the stock. Ieq Capital LLC increased its holdings in Alumis by 4.1% in the fourth quarter. Ieq Capital LLC now owns 17,421 shares of the company's stock valued at $170,000 after buying an additional 690 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Alumis by 26.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,724 shares of the company's stock worth $46,000 after acquiring an additional 979 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of Alumis by 12.4% in the 4th quarter. ProShare Advisors LLC now owns 14,627 shares of the company's stock valued at $143,000 after acquiring an additional 1,618 shares during the last quarter. Stoneridge Investment Partners LLC increased its holdings in shares of Alumis by 8.1% in the 3rd quarter. Stoneridge Investment Partners LLC now owns 29,535 shares of the company's stock valued at $118,000 after acquiring an additional 2,210 shares during the last quarter. Finally, Rhumbline Advisers raised its position in shares of Alumis by 21.7% during the 1st 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.

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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