Alumis (NASDAQ:ALMS) Shares Up 7.2% – Still a Buy?

Shares of Alumis Inc. (NASDAQ:ALMS) rose 7.2% during trading on Thursday . The stock traded as high as $26.97 and last traded at $27.4850. Approximately 773,146 shares were traded during trading, a decline of 84% from the average daily volume of 4,782,586 shares. The stock had previously closed at $25.63.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. UBS Group restated an “outperform” rating on shares of Alumis in a research report on Tuesday, January 6th. Wall Street Zen raised shares of Alumis from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Alumis in a report on Monday, December 29th. Oppenheimer reaffirmed an “outperform” rating and set a $50.00 price objective on shares of Alumis in a research note on Tuesday, January 6th. Finally, HC Wainwright reissued a “buy” rating and issued a $40.00 target price (up from $20.00) on shares of Alumis in a research note on Friday, January 9th. Ten research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Alumis has a consensus rating of “Moderate Buy” and a consensus target price of $37.50.

Alumis Stock Performance

The stock has a market capitalization of $2.80 billion, a P/E ratio of -6.62 and a beta of -2.06. The business has a 50-day moving average price of $18.07 and a 200 day moving average price of $9.48.

Alumis (NASDAQ:ALMS) last issued its earnings results on Thursday, November 13th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.92) by ($0.14). The business had revenue of $2.07 million for the quarter, compared to analyst estimates of $3.14 million. As a group, research analysts forecast that Alumis Inc. will post -8.51 earnings per share for the current fiscal year.

Insider Transactions at Alumis

In other news, Director Srinivas Akkaraju bought 588,235 shares of the firm’s stock in a transaction on Friday, January 9th. The shares were bought at an average price of $17.00 per share, for a total transaction of $9,999,995.00. Following the purchase, the director owned 1,853,488 shares in the company, valued at approximately $31,509,296. The trade was a 46.49% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Foresite Labs, Llc acquired 411,764 shares of the firm’s stock in a transaction dated Thursday, January 8th. The shares were purchased at an average price of $17.00 per share, for a total transaction of $6,999,988.00. Following the completion of the transaction, the insider directly owned 5,702,536 shares in the company, valued at approximately $96,943,112. This trade represents a 7.78% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased a total of 4,336,223 shares of company stock worth $47,902,376 in the last ninety days. Insiders own 40.70% of the company’s stock.

Hedge Funds Weigh In On Alumis

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. grew its holdings in shares of Alumis by 320.9% in 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 in the last quarter. Police & Firemen s Retirement System of New Jersey lifted its holdings in shares of Alumis by 199.7% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 10,753 shares of the company’s stock valued at $32,000 after acquiring an additional 7,165 shares during the last quarter. New York State Common Retirement Fund increased its stake in 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 acquiring an additional 7,467 shares during the last quarter. Western Wealth Management LLC purchased a new stake in Alumis during the second quarter valued at approximately $36,000. Finally, ProShare Advisors LLC purchased a new position in shares of Alumis in the 2nd quarter worth approximately $40,000.

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.