Alumis (NASDAQ:ALMS) Stock Sees Unusually High Put Option Buying

Key Points

• Unusual bearish options activity: Investors purchased 10,007 put options on Alumis, 446% above the typical volume of 1,832 contracts.
• Insiders have been selling: Two insiders sold a combined 5,019 shares for approximately $132,351, while insiders sold 111,084 shares worth $1.41 million over the past quarter.
• Shares and outlook remain under pressure: ALMS traded near $7.17, well below its 52-week high of $31.35, after the company missed quarterly EPS and revenue expectations. Analysts have reduced price targets, although the consensus rating remains “Moderate Buy” with an average target of $33.27.

Alumis Inc. (NASDAQ:ALMS - Get Free Report) saw some unusual options trading activity on Monday. Investors purchased 10,007 put options on the stock. This is an increase of 446% compared to the typical volume of 1,832 put options.

Insider Buying and Selling at Alumis

In related news, insider Jorn Drappa sold 2,447 shares of Alumis stock in a transaction 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 owned 56,892 shares in the company, valued at approximately $1,500,242.04. This trade represents a 4.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark Bradley sold 2,572 shares of the company's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $26.37, for a total value of $67,823.64. Following the sale, the insider owned 48,533 shares of the company's stock, valued at $1,279,815.21. This represents a 5.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 111,084 shares of company stock worth $1,408,493. 33.70% of the stock is currently owned by company insiders.

Institutional Trading of Alumis

A number of hedge funds have recently made changes to their positions in ALMS. Integrated Wealth Concepts LLC acquired a new stake in shares of Alumis during the second quarter worth approximately $33,000. Strs Ohio increased its stake in shares of Alumis by 300.0% in the first 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 last quarter. KBC Group NV bought a new stake in shares of Alumis in the first quarter worth $42,000. State of Wyoming acquired a new stake in Alumis in the first quarter valued at $57,000. Finally, Dimensional Fund Advisors LP raised its holdings in Alumis by 12.7% in the first quarter. Dimensional Fund Advisors LP now owns 23,115 shares of the company's stock valued at $509,000 after acquiring an additional 2,599 shares in the last quarter.

Alumis Stock Performance

Shares of ALMS stock traded up $0.01 during trading hours on Monday, reaching $7.17. The company had a trading volume of 691,107 shares, compared to its average volume of 2,257,357. Alumis has a twelve month low of $4.37 and a twelve month high of $31.35. The company has a market capitalization of $928.70 million, a P/E ratio of -1.86 and a beta of -0.38. The stock's fifty day simple moving average is $15.31 and its 200 day simple moving average is $21.22.

Alumis (NASDAQ:ALMS - Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported ($1.11) EPS for the quarter, missing the consensus estimate of ($0.77) by ($0.34). The company had revenue of $1.66 million for 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%. As a group, equities analysts expect that Alumis will post -2.95 earnings per share for the current year.

Analysts Set New Price Targets

ALMS has been the topic of several research analyst reports. Guggenheim lowered Alumis from a "buy" rating to a "neutral" rating in a research note on Thursday, September 3rd. Wall Street Zen cut Alumis from a "hold" rating to a "sell" rating in a report on Saturday, September 5th. Wells Fargo & Company dropped their target price on shares of Alumis from $51.00 to $25.00 and set an "overweight" rating for the company in a research report on Wednesday, September 2nd. Citigroup restated an "overweight" rating on shares of Alumis in a report on Tuesday, September 1st. Finally, Oppenheimer cut their price target on shares of Alumis from $55.00 to $37.00 and set an "outperform" rating on the stock in a report on Wednesday, September 2nd. 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 issued a Sell rating to the company. According to MarketBeat.com, Alumis currently has a consensus rating of "Moderate Buy" and an average price target of $33.27.

About Alumis

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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