Alumis (NASDAQ:ALMS) Posts Earnings Results

Key Points

• Alumis beat quarterly expectations, reporting a loss of $0.73 per share versus the $0.75 consensus loss, with revenue of $1.91 million slightly above estimates of $1.90 million.
• The stock fell $0.49 to $6.13 on Thursday. A director also sold 96,131 shares at an average price of $10.55, while retaining about 2.03 million shares.
• Analyst sentiment remains broadly positive: MarketBeat lists a “Moderate Buy” consensus rating and an average price target of $33.27, despite one analyst downgrade to Sell.

Alumis (NASDAQ:ALMS - Get Free Report) issued its quarterly earnings results on Thursday. The company reported ($0.73) earnings per share for the quarter, beating the consensus estimate of ($0.75) by $0.02, FiscalAI reports. The company had revenue of $1.91 million during the quarter, compared to analysts' expectations of $1.90 million. Alumis had a negative return on equity of 93.15% and a negative net margin of 5,933.46%.

Alumis Price Performance

NASDAQ ALMS traded down $0.49 during trading hours on Thursday, reaching $6.13. 1,862,850 shares of the company's stock traded hands, compared to its average volume of 2,224,769. The firm has a market cap of $793.44 million, a PE ratio of -1.59 and a beta of -0.28. Alumis has a 52-week low of $4.60 and a 52-week high of $31.35. The firm has a 50-day simple moving average of $7.44 and a 200 day simple moving average of $20.66.

Insider Buying and Selling at Alumis

In other news, Director Srinivas Akkaraju sold 96,131 shares of Alumis stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $10.55, for a total value of $1,014,182.05. Following the completion of the transaction, the director owned 2,025,493 shares of the company's stock, valued at $21,368,951.15. The trade was a 4.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders sold 99,754 shares of company stock valued at $1,037,804. Corporate insiders own 33.70% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on ALMS shares. Citigroup restated an "overweight" rating on shares of Alumis in a report on Tuesday, September 1st. Cantor Fitzgerald reissued an "overweight" rating on shares of Alumis in a research note on Wednesday, September 16th. Robert W. Baird set a $27.00 target price on shares of Alumis in a report on Tuesday, September 1st. Weiss Ratings lowered Alumis from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, October 27th. Finally, HC Wainwright restated a "buy" rating on shares of Alumis in a research note on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $33.27.

Alumis Company Profile

Alumis is a clinical-stage biopharmaceutical company developing medicines for autoimmune and inflammatory diseases. The company uses data and computational tools to support the discovery and development of targeted treatments. Its lead investigational program, ESK-001, is an oral, selective TYK2 inhibitor being studied for conditions including plaque psoriasis and systemic lupus erythematosus. Alumis is also advancing other drug candidates for immune-mediated diseases. These medicines remain in clinical development and are not approved for commercial use.

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