Alumis Inc. (NASDAQ:ALMS) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus: Ten analysts rate Alumis a buy, one a strong buy, one a hold, and one a sell, with an average 12-month price target of $33.27.
• Alumis reported weaker-than-expected quarterly results, posting an adjusted loss of $1.11 per share versus the $0.77 consensus estimate and revenue of $1.66 million versus expectations of $3.65 million.
• The stock opened at $7.94, well below its 52-week high of $31.35. Insiders have sold 116,084 shares worth about $1.55 million over the past 90 days, while several institutional investors increased their holdings.

Alumis Inc. (NASDAQ:ALMS - Get Free Report) has received an average recommendation of "Moderate Buy" from the thirteen research firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $33.2727.

ALMS has been the topic of several analyst reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Alumis in a research note on Tuesday, July 7th. Wall Street Zen downgraded Alumis from a "hold" rating to a "sell" rating in a report on Saturday, September 5th. Oppenheimer dropped their price objective on shares of Alumis from $55.00 to $37.00 and set an "outperform" rating on the stock in a research note on Wednesday, September 2nd. Citigroup restated an "overweight" rating on shares of Alumis in a research report on Tuesday, September 1st. Finally, Robert W. Baird set a $27.00 target price on shares of Alumis in a report on Tuesday, September 1st.

Insider Transactions at Alumis

In other Alumis news, insider Mark Bradley sold 2,572 shares of the business's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $26.37, for a total transaction of $67,823.64. Following the transaction, the insider owned 48,533 shares in the company, valued at approximately $1,279,815.21. The trade was a 5.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Roy C. Hardiman sold 2,692 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $26.37, for a total value of $70,988.04. Following the transaction, the insider directly owned 207,746 shares of the company's stock, valued at approximately $5,478,262.02. This trade represents a 1.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 116,084 shares of company stock valued at $1,548,493 over the last 90 days. Insiders own 33.70% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Integrated Wealth Concepts LLC purchased a new stake in shares of Alumis during the 2nd quarter worth $33,000. Corient Private Wealth LP increased its holdings in shares of Alumis by 88.1% in the 2nd quarter. Corient Private Wealth LP now owns 35,144 shares of the company's stock valued at $989,000 after purchasing an additional 16,458 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Alumis in the 2nd quarter valued at about $422,000. Moore Capital Management LP lifted its stake in shares of Alumis by 230.7% in the second quarter. Moore Capital Management LP now owns 136,803 shares of the company's stock valued at $3,850,000 after purchasing an additional 95,433 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Alumis by 36.6% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 112,129 shares of the company's stock valued at $3,155,000 after purchasing an additional 30,055 shares during the period.

Alumis Stock Performance

Shares of ALMS opened at $7.94 on Thursday. Alumis has a fifty-two week low of $3.76 and a fifty-two week high of $31.35. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of -2.06 and a beta of -0.81. The firm has a 50-day simple moving average of $22.43 and a 200-day simple moving average of $23.54.

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

About Alumis

Alumis, Inc is a clinical-stage biopharmaceutical company focused on developing oral therapies for immune-mediated diseases. The company's lead investigational product is ESK-001, a selective allosteric tyrosine kinase 2 (TYK2) inhibitor designed to regulate immune signaling while potentially avoiding some safety limitations associated with broader immunosuppressive treatments.

ESK-001 is being evaluated in clinical trials for moderate-to-severe plaque psoriasis and systemic lupus erythematosus.

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