Wall Street Zen upgraded shares of Alumis (NASDAQ:ALMS – Free Report) from a strong sell rating to a hold rating in a research report released on Sunday morning.
Several other equities analysts have also commented on the stock. HC Wainwright reaffirmed a “neutral” rating and issued a $25.00 price objective on shares of Alumis in a research report on Friday, August 14th. Morgan Stanley reissued an “overweight” rating and set a $39.00 target price on shares of Alumis in a research report on Friday, May 15th. Wells Fargo & Company boosted their target price on shares of Alumis from $49.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, May 15th. Chardan Capital upped their price target on shares of Alumis from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, May 19th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Alumis in a report on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Alumis presently has an average rating of “Moderate Buy” and an average price target of $40.30.
Get Our Latest Stock Report on ALMS
Alumis Price Performance
Alumis (NASDAQ:ALMS – Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The company reported ($1.11) EPS for the quarter, missing analysts’ consensus estimates 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. On average, analysts expect that Alumis will post -2.95 EPS for the current year.
Insider Activity
In related news, insider Jorn Drappa sold 2,447 shares of the 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 $64,527.39. Following the transaction, the insider owned 56,892 shares in the company, valued at approximately $1,500,242.04. This represents a 4.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Roy C. Hardiman sold 2,692 shares of the firm’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 transaction of $70,988.04. Following the transaction, the insider directly owned 207,746 shares of the company’s stock, valued at $5,478,262.02. This represents a 1.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 19,953 shares of company stock valued at $534,311. 33.70% of the stock is owned by insiders.
Institutional Trading of Alumis
A number of hedge funds and other institutional investors have recently made changes to their positions in ALMS. California State Teachers Retirement System boosted its position in Alumis by 2,222.5% in the 1st quarter. California State Teachers Retirement System now owns 80,845 shares of the company’s stock worth $1,781,000 after purchasing an additional 77,364 shares in the last quarter. First Trust Advisors LP acquired a new stake in shares of Alumis during the 1st quarter worth approximately $1,456,000. The Manufacturers Life Insurance Company increased its holdings in shares of Alumis by 775.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 154,634 shares of the company’s stock valued at $3,407,000 after purchasing an additional 136,973 shares in the last quarter. Swiss National Bank purchased a new position in shares of Alumis during the 1st quarter valued at approximately $2,815,000. Finally, Elmind Capital LP acquired a new position in shares of Alumis in the 1st quarter valued at $2,864,000.
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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