Alumis Inc. (NASDAQ:ALMS – Get Free Report) shares traded down 4.1% during trading on Monday . The company traded as low as $25.81 and last traded at $27.08. Approximately 280,919 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 2,047,684 shares. The stock had previously closed at $28.25.
Wall Street Analyst Weigh In
ALMS has been the topic of several analyst reports. Wall Street Zen lowered Alumis from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Alumis in a report on Tuesday, July 7th. HC Wainwright restated a “neutral” rating and issued a $25.00 price objective on shares of Alumis in a research report on Monday. Morgan Stanley reaffirmed an “overweight” rating and set a $39.00 price objective on shares of Alumis in a research note on Friday, May 15th. Finally, Wells Fargo & Company lifted their target price on shares of Alumis from $49.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Alumis has a consensus rating of “Moderate Buy” and an average price target of $40.30.
View Our Latest Stock Analysis on ALMS
Alumis Stock Performance
Alumis (NASDAQ:ALMS – Get Free Report) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.01). The business had revenue of $1.74 million during the quarter, compared to analyst estimates of $2.10 million. Alumis had a negative return on equity of 88.79% and a negative net margin of 2,825.70%. On average, equities research analysts expect that Alumis Inc. will post -2.87 earnings per share for the current fiscal year.
Insider Transactions at Alumis
In related news, insider Sanam Pangali sold 5,000 shares of the business’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $28.00, for a total value of $140,000.00. Following the completion of the sale, the insider owned 11,111 shares of the company’s stock, valued at approximately $311,108. The trade was a 31.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 33.70% of the company’s stock.
Institutional Investors Weigh In On Alumis
Several large investors have recently bought and sold shares of the company. Russell Investments Group Ltd. boosted its stake in shares of Alumis by 320.9% in the third quarter. Russell Investments Group Ltd. now owns 6,419 shares of the company’s stock worth $26,000 after acquiring an additional 4,894 shares during the last quarter. New York State Common Retirement Fund grew its stake in Alumis by 173.7% during the 2nd quarter. New York State Common Retirement Fund now owns 11,767 shares of the company’s stock valued at $35,000 after acquiring an additional 7,467 shares in the last quarter. KBC Group NV purchased a new position in Alumis in the 1st quarter worth approximately $42,000. Strs Ohio increased its holdings in shares of Alumis by 300.0% in the first quarter. Strs Ohio now owns 2,000 shares of the company’s stock valued at $44,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Alumis by 26.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,724 shares of the company’s stock valued at $46,000 after buying an additional 979 shares in the last quarter.
Alumis Company Profile
Our mission is to significantly improve the lives of patients by replacing broad immunosuppression with targeted therapies. Our name, Alumis, captures our mission to enlighten immunology, and is inspired by the words “allumer”-French for illuminate-and “immunis”-Latin for the immune system. We are a clinical stage biopharmaceutical company with an initial focus on developing our two Tyrosine Kinase 2 (TYK2) inhibitors: ESK-001, a second-generation inhibitor that we are developing to maximize target inhibition and optimize tolerability, and A-005, a central nervous system (CNS) penetrant molecule.
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