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

Key Points

• Analysts’ consensus is “Moderate Buy”: 14 firms cover Alumis, with 11 buy ratings, one strong buy, one hold, and one sell. Their average 12-month price target is $33.27.
• Some brokerages have lowered their targets: Oppenheimer cut its objective from $55 to $37, while Morgan Stanley reduced its target from $39 to $29; both maintained positive ratings.
• Alumis reported quarterly EPS of -$1.11, missing analysts’ -$0.77 estimate, and revenue of $1.66 million versus expectations of $3.65 million. The stock opened at $5.85, below its 50-day and 200-day moving averages.

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

A number of brokerages have commented on ALMS. Oppenheimer decreased their price objective on Alumis from $55.00 to $37.00 and set an "outperform" rating for the company in a research report on Wednesday, September 2nd. Morgan Stanley dropped their target price on Alumis from $39.00 to $29.00 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 research report on Wednesday, September 16th. Robert W. Baird set a $27.00 price target on shares of Alumis in a report on Tuesday, September 1st. Finally, Weiss Ratings downgraded shares of Alumis from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, October 27th.

Insider Transactions at Alumis

In other Alumis news, Director Srinivas Akkaraju sold 96,131 shares of Alumis stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $10.55, for a total transaction of $1,014,182.05. Following the completion of the sale, the director owned 2,025,493 shares of the company's stock, valued at $21,368,951.15. This trade represents a 4.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In the last three months, insiders have sold 99,754 shares of company stock valued at $1,037,804. 33.70% of the stock is owned by corporate insiders.

Institutional Trading of Alumis

Several hedge funds and other institutional investors have recently modified their holdings of the company. Integrated Wealth Concepts LLC acquired a new stake in Alumis in the second quarter valued at approximately $33,000. KBC Group NV acquired a new position in shares of Alumis during the 1st quarter worth $42,000. Strs Ohio increased its stake in shares of Alumis by 300.0% during the 1st quarter. Strs Ohio now owns 2,000 shares of the company's stock worth $44,000 after purchasing an additional 1,500 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Alumis during the 3rd quarter valued at $49,000. Finally, State of Wyoming bought a new position in shares of Alumis during the 1st quarter valued at $57,000.

Alumis Stock Performance

NASDAQ ALMS opened at $5.85 on Friday. The firm's 50 day moving average price is $8.47 and its two-hundred day moving average price is $21.05. Alumis has a twelve month low of $4.40 and a twelve month high of $31.35. The stock has a market cap of $757.19 million, a price-to-earnings ratio of -1.52 and a beta of -0.28.

Alumis (NASDAQ:ALMS - Get Free Report) last released its earnings results 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). 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%. On average, research analysts forecast that Alumis will post -2.95 EPS for the current fiscal year.

About Alumis

Alumis NASDAQ: ALMS is a clinical-stage biopharmaceutical company focused on developing oral therapies for immune-mediated diseases. The company's research is centered on selective modulation of the immune system, with the goal of providing effective, convenient treatments that may address conditions inadequately served by existing therapies.

Its lead product candidate, ESK-001, is an investigational oral allosteric tyrosine kinase 2 (TYK2) inhibitor designed to selectively regulate signaling pathways involved in inflammatory and autoimmune diseases.

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