Alumis Inc. (NASDAQ:ALMS – Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $21.81, but opened at $9.93. Alumis shares last traded at $10.0690, with a volume of 5,638,520 shares trading hands.
More Alumis News
Here are the key news stories impacting Alumis this week:
- Positive Sentiment: Although the trial missed its goals in the overall SLE population, Alumis reported robust responses among a prespecified subgroup of patients with high interferon gene signatures. The company plans to pursue Phase 3 development in this narrower population, and the drug was generally well tolerated with no new safety signals. Alumis hit by lupus trial miss but TYK2 drug still heads to Phase III
- Positive Sentiment: Alumis remains on track to submit a New Drug Application for envudeucitinib in moderate-to-severe plaque psoriasis during the fourth quarter of 2026. The psoriasis program is now an important potential value driver separate from the weakened broad SLE indication. Alumis Phase 2b trial results
- Positive Sentiment: HC Wainwright upgraded ALMS from “neutral” to “buy,” citing potential upside to a $15 price target. However, the target was reduced from $25, signaling a more cautious outlook after the trial results.
- Neutral Sentiment: Management intends to advance lupus development in the biomarker-defined IFNGS-high subgroup rather than abandon the program. This could preserve some of the indication’s value, but the strategy still requires additional clinical validation. Alumis eyes late-stage lupus study despite trial miss
- Negative Sentiment: The LUMUS trial failed to meet both its primary and secondary endpoints in the overall SLE population. The setback raises the risk that envudeucitinib’s addressable lupus market will be substantially smaller than previously expected. Alumis lupus trial update
- Negative Sentiment: Investor confidence weakened sharply, with reports of a more-than-50% selloff and unusually high put-option activity. Alumis remains a late-stage biotech without a commercial product, making its valuation highly dependent on envudeucitinib’s clinical and regulatory success.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on ALMS shares. Guggenheim increased their target price on Alumis from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Morgan Stanley reduced their target price on shares of Alumis from $39.00 to $29.00 and set an “overweight” rating on the stock in a research report on Wednesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Alumis in a report on Tuesday, July 7th. Citigroup restated an “overweight” rating on shares of Alumis in a research report on Tuesday. Finally, Chardan Capital upped their price objective on Alumis from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $33.27.
Alumis Stock Performance
The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of -2.68 and a beta of -0.81. The business’s 50-day simple moving average is $25.91 and its 200-day simple moving average is $24.82.
Alumis (NASDAQ:ALMS – Get Free Report) last issued its quarterly 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). Alumis had a negative return on equity of 93.15% and a negative net margin of 5,933.46%.The business had revenue of $1.66 million for the quarter, compared to analyst estimates of $3.65 million. On average, analysts forecast that Alumis Inc. will post -2.95 earnings per share for the current year.
Insider Buying and Selling
In related news, insider Roy C. Hardiman sold 2,692 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 $70,988.04. Following the completion of the sale, the insider owned 207,746 shares in the company, valued at approximately $5,478,262.02. This represents a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider David M. Goldstein sold 2,596 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $26.37, for a total value of $68,456.52. Following the completion of the transaction, the insider directly owned 30,970 shares in the company, valued at $816,678.90. The trade was a 7.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 19,953 shares of company stock worth $534,311 over the last 90 days. 33.70% of the stock is currently owned by corporate insiders.
Institutional Trading of Alumis
Hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. grew its holdings in Alumis by 320.9% during the third quarter. Russell Investments Group Ltd. now owns 6,419 shares of the company’s stock valued at $26,000 after purchasing an additional 4,894 shares during the period. New York State Common Retirement Fund boosted its position in shares of Alumis by 173.7% during the second quarter. New York State Common Retirement Fund now owns 11,767 shares of the company’s stock worth $35,000 after purchasing an additional 7,467 shares in the last quarter. KBC Group NV acquired a new position in shares of Alumis in the 1st quarter valued at $42,000. Strs Ohio grew its holdings in shares of Alumis by 300.0% in the 1st quarter. Strs Ohio now owns 2,000 shares of the company’s stock valued at $44,000 after buying an additional 1,500 shares during the period. Finally, BNP Paribas Financial Markets increased its position in shares of Alumis by 104.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,770 shares of the company’s stock valued at $47,000 after buying an additional 6,027 shares in the last quarter.
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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