Alumis (NASDAQ:ALMS – Get Free Report) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday, Wall Street Zen reports.
Other equities analysts have also issued research reports about the stock. Guggenheim lowered shares of Alumis from a “buy” rating to a “neutral” rating in a research report on Thursday. Citigroup restated an “overweight” rating on shares of Alumis in a research note on Tuesday, September 1st. Morgan Stanley lowered their target price on shares of Alumis from $39.00 to $29.00 and set an “overweight” rating on the stock in a report on Wednesday. Robert W. Baird set a $27.00 price target on Alumis in a report on Tuesday, September 1st. Finally, Chardan Capital lifted their price target on Alumis from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $33.27.
Get Our Latest Stock Analysis on ALMS
Alumis Price Performance
Alumis (NASDAQ:ALMS – Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($1.11) earnings per share 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 firm had revenue of $1.66 million for the quarter, compared to the consensus estimate of $3.65 million. Sell-side analysts anticipate that Alumis will post -2.95 earnings per share for the current fiscal year.
Insider Transactions at Alumis
In other news, insider Mark Bradley sold 2,572 shares of the company’s stock in a transaction 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 transaction, the insider owned 48,533 shares of the company’s stock, valued at approximately $1,279,815.21. This represents a 5.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Sanam Pangali sold 5,000 shares of Alumis 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 sale, the insider directly owned 11,111 shares of the company’s stock, valued at $311,108. This represents a 31.03% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 19,953 shares of company stock valued at $534,311. Corporate insiders own 33.70% of the company’s stock.
Institutional Trading of Alumis
A number of large investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Alumis by 64.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,535 shares of the company’s stock worth $77,000 after purchasing an additional 4,926 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Alumis by 24.0% in the first quarter. Goldman Sachs Group Inc. now owns 61,645 shares of the company’s stock valued at $378,000 after purchasing an additional 11,949 shares in the last quarter. Jane Street Group LLC bought a new stake in Alumis during the first quarter valued at approximately $111,000. Rhumbline Advisers lifted its position in Alumis by 21.7% during the first quarter. Rhumbline Advisers now owns 16,543 shares of the company’s stock valued at $102,000 after purchasing an additional 2,949 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Alumis by 163.2% during the second quarter. Geode Capital Management LLC now owns 1,167,832 shares of the company’s stock valued at $3,504,000 after purchasing an additional 724,133 shares during the last quarter.
Alumis News Summary
Here are the key news stories impacting Alumis this week:
- Positive Sentiment: HC Wainwright upgraded its rating on Alumis. The upgrade helped support an earlier rebound in the shares, although its effect was subsequently overshadowed by the lupus-trial news. Alumis Stock Rating Upgraded by HC Wainwright
- Positive Sentiment: Alumis will participate in several September investor conferences. These events could give management an opportunity to explain the clinical results, discuss its broader pipeline and outline its strategy for using biomarker data to identify potentially responsive lupus patients. Alumis to Participate in Upcoming September Investor Conferences
- Neutral Sentiment: Options activity was unusually high. Elevated options trading indicates increased investor positioning and volatility following the clinical announcement, but it does not establish a clear directional outlook. Alumis Target of Unusually Large Options Trading
- Negative Sentiment: Alumis’ Phase 2b lupus study missed its key endpoints. The mixed data for the company’s lead SLE treatment raised concerns about the drug’s efficacy and commercial prospects, triggering a sharp decline in the stock. Management’s potential biomarker-based development strategy may preserve a path forward, but it also adds uncertainty and could require additional clinical work. Alumis Lead Lupus Drug Missed Phase 2b Trial Endpoints
- Negative Sentiment: Guggenheim downgraded Alumis from Buy to Neutral after the trial setback. The downgrade reflects reduced confidence in the lupus program and likely contributed to continued selling pressure. Additional analyst commentary has focused on the implications of the clinical miss for valuation and the company’s pipeline. Alumis Downgraded at Guggenheim
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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