Wall Street Zen cut shares of Alumis (NASDAQ:ALMS – Free Report) from a sell rating to a strong sell rating in a report issued on Saturday.
A number of other brokerages have also weighed in on ALMS. Guggenheim increased their target price on Alumis from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alumis in a report on Tuesday, July 7th. Chardan Capital increased their price objective on Alumis from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, May 19th. Wells Fargo & Company lifted their target price on Alumis from $49.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday, May 15th. Finally, Citigroup reissued a “buy” rating on shares of Alumis in a research report on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $40.30.
Alumis Stock Up 3.7%
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 the consensus estimate of ($0.77) by ($0.34). Alumis had a negative return on equity of 95.08% and a negative net margin of 5,933.46%.The company had revenue of $1.66 million for the quarter, compared to analyst estimates of $3.65 million. Equities analysts anticipate that Alumis will post -2.87 earnings per share for the current fiscal year.
Insider Activity at Alumis
In other news, insider Mark Christopher Bradley sold 2,572 shares of Alumis stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $26.37, for a total value of $67,823.64. Following the completion of the sale, the insider directly owned 48,533 shares in the company, valued at approximately $1,279,815.21. The trade was a 5.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sanam Pangali sold 5,000 shares of the business’s stock in a transaction that occurred 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. This trade represents a 31.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 19,953 shares of company stock valued at $534,311. 33.70% of the stock is currently owned by company insiders.
Institutional Trading of Alumis
A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Alumis during the 2nd quarter worth $231,259,000. MPM Bioimpact LLC acquired a new position in Alumis in the fourth quarter valued at about $23,443,000. Jupiter Topco LLC acquired a new position in Alumis in the second quarter valued at about $66,238,000. Janus Henderson Group PLC bought a new stake in Alumis during the first quarter worth about $46,790,000. Finally, Orbimed Advisors LLC bought a new stake in Alumis during the second quarter worth about $5,779,000.
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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