Alumis Inc. (NASDAQ:ALMS) Stock Has Consensus Target Price of $33.27

Key Points

• Analysts maintain a “Moderate Buy” consensus on Alumis, with 11 buy ratings, one strong buy, one hold and one sell. The average 12-month price target is $33.27, although some analysts have recently lowered targets or downgraded the stock.
• Alumis shares opened at $7.16, well below their 52-week high of $31.35, while the company reported a quarterly EPS loss of $1.11 versus the expected $0.77 loss and revenue of $1.66 million versus the $3.65 million consensus.
• Insiders sold 111,084 shares worth approximately $1.41 million during the last quarter, while several institutional investors increased their positions. Alumis is developing ESK-001, an oral TYK2 inhibitor for immune-mediated diseases including psoriasis, psoriatic arthritis and lupus.

Alumis Inc. (NASDAQ:ALMS - Get Free Report) has earned an average recommendation of "Moderate Buy" from the fourteen ratings firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $33.27.

ALMS has been the topic of several analyst reports. Wells Fargo & Company lowered their target price on shares of Alumis from $51.00 to $25.00 and set an "overweight" rating on the stock in a report on Wednesday, September 2nd. Cantor Fitzgerald reissued an "overweight" rating on shares of Alumis in a report on Wednesday, September 16th. Benchmark restated a "buy" rating on shares of Alumis in a research report on Monday, October 5th. Guggenheim lowered shares of Alumis from a "buy" rating to a "neutral" rating in a research report on Thursday, September 3rd. Finally, HC Wainwright reaffirmed a "buy" rating on shares of Alumis in a research note on Monday, October 5th.

Insider Activity at Alumis

In other news, insider Jorn Drappa sold 2,447 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 value of $64,527.39. Following the transaction, the insider directly owned 56,892 shares of the company's stock, valued at $1,500,242.04. The trade was a 4.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David M. Goldstein sold 2,596 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 value of $68,456.52. Following the completion of the transaction, 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 SEC filing for this sale provides additional information. In the last quarter, insiders have sold 111,084 shares of company stock valued at $1,408,493. Insiders own 33.70% of the company's stock.

Institutional Investors Weigh In On Alumis

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

Alumis Price Performance

Alumis stock opened at $7.16 on Monday. The stock has a fifty day moving average price of $15.31 and a two-hundred day moving average price of $21.22. Alumis has a 52-week low of $4.28 and a 52-week high of $31.35. The firm has a market capitalization of $926.72 million, a P/E ratio of -1.85 and a beta of -0.38.

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

Alumis Company Profile

Alumis, Inc is a clinical-stage biopharmaceutical company focused on developing oral therapies for immune-mediated diseases. The company's research centers on selective allosteric inhibitors of tyrosine kinase 2 (TYK2), a protein involved in signaling pathways that regulate inflammation and immune responses.

Alumis' lead product candidate is ESK-001, an oral, highly selective TYK2 inhibitor being evaluated in inflammatory and autoimmune conditions, including plaque psoriasis, psoriatic arthritis and systemic lupus erythematosus.

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