Alumis Inc. (NASDAQ:ALMS – Get Free Report)’s share price fell 7.9% during trading on Thursday . The company traded as low as $22.03 and last traded at $22.1050. 330,237 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 1,953,022 shares. The stock had previously closed at $23.99.
Analyst Ratings Changes
ALMS has been the topic of several analyst reports. Wall Street Zen downgraded Alumis from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Alumis in a research report on Tuesday, July 7th. HC Wainwright reaffirmed a “neutral” rating and issued a $25.00 price objective on shares of Alumis in a research note on Friday, August 14th. Citigroup reaffirmed a “neutral” rating on shares of Alumis in a research report on Monday. Finally, Guggenheim lifted their price objective on Alumis from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Alumis presently has a consensus rating of “Moderate Buy” and an average price target of $40.30.
View Our Latest Report on Alumis
Alumis Stock Up 5.7%
Alumis (NASDAQ:ALMS – Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($1.11) EPS for the quarter, missing the consensus estimate of ($0.77) by ($0.34). Alumis had a negative net margin of 5,933.46% and a negative return on equity of 93.15%. The business had revenue of $1.66 million during the quarter, compared to analysts’ expectations of $3.65 million. Research analysts anticipate that Alumis Inc. will post -2.95 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, insider Mark Christopher Bradley sold 2,572 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $26.37, for a total value of $67,823.64. Following the transaction, the insider directly owned 48,533 shares of the company’s stock, valued at approximately $1,279,815.21. The trade was a 5.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Roy C. Hardiman sold 2,692 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $26.37, for a total value of $70,988.04. Following the completion of the transaction, the insider owned 207,746 shares of the company’s stock, valued at $5,478,262.02. The trade was a 1.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 19,953 shares of company stock worth $534,311 in the last quarter. 33.70% of the stock is owned by insiders.
Hedge Funds Weigh In On Alumis
Several institutional investors have recently bought and sold shares of the stock. Moore Capital Management LP increased its holdings in Alumis by 230.7% in the 2nd quarter. Moore Capital Management LP now owns 136,803 shares of the company’s stock valued at $3,850,000 after acquiring an additional 95,433 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Alumis by 36.6% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 112,129 shares of the company’s stock valued at $3,155,000 after purchasing an additional 30,055 shares during the last quarter. venBio Partners LLC purchased a new position in shares of Alumis during the second quarter valued at about $127,429,401,000. Capstone Investment Advisors LLC purchased a new position in shares of Alumis during the second quarter valued at about $237,000. Finally, Corient Private Wealth LP bought a new stake in shares of Alumis in the second quarter worth about $997,000.
About Alumis
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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