Alumis (NASDAQ:ALMS) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Alumis from “strong sell” to “hold,” while broader analyst sentiment remains “Moderate Buy” with a consensus price target of $40.30.
• Alumis shares recently traded at $24.17, up 5.7%, but the company reported a larger-than-expected quarterly loss of $1.11 per share and revenue of $1.66 million, below the $3.65 million estimate.
• Institutional investors, including BlackRock and venBio Partners, have built significant positions, while insiders sold nearly 20,000 shares worth about $534,000 over the past 90 days.

Alumis (NASDAQ:ALMS - Get Free Report) was upgraded by Wall Street Zen from a "strong sell" rating to a "hold" rating in a research note issued to investors on Sunday.

A number of other equities analysts have also recently commented on ALMS. Weiss Ratings reissued a "sell (d-)" rating on shares of Alumis in a research note on Tuesday, July 7th. Chardan Capital upped their target price 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. HC Wainwright restated a "neutral" rating and set a $25.00 price objective on shares of Alumis in a research report on Friday, August 14th. Guggenheim raised their price objective on Alumis from $32.00 to $34.00 and gave the company a "buy" rating in a research note on Friday, May 15th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $39.00 target price on shares of Alumis in a report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $40.30.

Alumis Trading Up 5.7%

Shares of Alumis stock opened at $24.17 on Friday. The company has a market cap of $3.13 billion, a P/E ratio of -6.26 and a beta of -0.69. Alumis has a 12-month low of $3.76 and a 12-month high of $31.35. The company's fifty day simple moving average is $26.53 and its two-hundred day simple moving average is $25.20.

Alumis (NASDAQ:ALMS - Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported ($1.11) earnings per share for the quarter, missing analysts' consensus estimates of ($0.77) by ($0.34). The business had revenue of $1.66 million during the quarter, compared to analysts' expectations of $3.65 million. Alumis had a negative net margin of 5,933.46% and a negative return on equity of 93.15%. Analysts predict that Alumis will post -2.95 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider David M. Goldstein sold 2,596 shares of Alumis stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $26.37, for a total value of $68,456.52. Following the completion of the sale, the insider directly owned 30,970 shares in the company, valued at $816,678.90. The trade was a 7.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Sanam Pangali sold 5,000 shares of the stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $28.00, for a total transaction of $140,000.00. Following the transaction, the insider owned 11,111 shares in the company, valued at approximately $311,108. The trade was a 31.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 19,953 shares of company stock valued at $534,311 over the last 90 days. 33.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Alumis

Large investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in Alumis in the second quarter valued at about $231,259,000. Samsara Biocapital LLC boosted its position in shares of Alumis by 19.9% in the 4th quarter. Samsara Biocapital LLC now owns 5,756,984 shares of the company's stock worth $56,188,000 after purchasing an additional 955,614 shares in the last quarter. venBio Partners LLC purchased a new position in Alumis during the 2nd quarter worth $127,429,401,000. Vanguard Group Inc. grew its stake in Alumis by 18.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,029,615 shares of the company's stock worth $16,078,000 after buying an additional 625,404 shares during the last quarter. Finally, Cormorant Asset Management LP increased its position in Alumis by 69.3% during the 4th quarter. Cormorant Asset Management LP now owns 3,635,596 shares of the company's stock valued at $35,483,000 after buying an additional 1,488,200 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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