Alumis (NASDAQ:ALMS) Trading Down 4.1% - Should You Sell?

Key Points

• Alumis shares fell 4.1% in mid-day trading to $27.08, with trading volume 86% below the average session level.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $40.30, despite one sell rating.
• The company continues to report significant losses: quarterly EPS of $(0.74) missed estimates, revenue was $1.74 million, and analysts expect a full-year loss of $(2.87) per share.

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 $25.81 and last traded at $27.08. 280,919 shares were traded during mid-day trading, a decline of 86% from the average session volume of 2,047,684 shares. The stock had previously closed at $28.25.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ALMS shares. Morgan Stanley restated an "overweight" rating and set a $39.00 target price on shares of Alumis in a research note on Friday, May 15th. Guggenheim upped their price objective on shares of Alumis from $32.00 to $34.00 and gave the stock a "buy" rating in a research report on Friday, May 15th. Citigroup reiterated a "buy" rating on shares of Alumis in a research report on Tuesday, May 19th. Wall Street Zen lowered Alumis from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. Finally, Chardan Capital increased 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. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Alumis currently has a consensus rating of "Moderate Buy" and a consensus target price of $40.30.

Alumis Stock Down 10.3%

The company has a fifty day moving average price of $25.08 and a 200 day moving average price of $25.15. The stock has a market cap of $3.23 billion, a PE ratio of -13.03 and a beta of -0.73.

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

Insider Activity

In related news, insider Sanam Pangali sold 5,000 shares of the firm's stock in a transaction on Monday, July 6th. The stock was sold at an average price of $28.00, for a total value of $140,000.00. Following the completion of the sale, the insider owned 11,111 shares of the company's stock, valued at $311,108. This trade represents a 31.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 33.70% of the stock is owned by insiders.

Institutional Trading of Alumis

Several institutional investors have recently added to or reduced their stakes in the business. Ieq Capital LLC lifted its holdings in shares of Alumis by 4.1% during the fourth quarter. Ieq Capital LLC now owns 17,421 shares of the company's stock valued at $170,000 after purchasing an additional 690 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Alumis by 26.1% during 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 in the last quarter. Strs Ohio lifted its holdings in shares of Alumis by 300.0% in the 1st quarter. Strs Ohio now owns 2,000 shares of the company's stock worth $44,000 after buying an additional 1,500 shares during the period. ProShare Advisors LLC grew its holdings in Alumis by 12.4% during the 4th quarter. ProShare Advisors LLC now owns 14,627 shares of the company's stock worth $143,000 after acquiring an additional 1,618 shares in the last quarter. Finally, KBC Group NV bought a new position in shares of Alumis during the first quarter valued at approximately $42,000.

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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