Alumis (NASDAQ:ALMS) Trading 6.4% Higher – Should You Buy?

Alumis Inc. (NASDAQ:ALMS) traded up 6.4% during trading on Tuesday . The company traded as high as $28.86 and last traded at $29.0070. Approximately 213,909 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 2,156,024 shares. The stock had previously closed at $27.27.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ALMS shares. Oppenheimer upped their price objective on shares of Alumis from $50.00 to $55.00 and gave the stock an “outperform” rating in a research report on Monday, March 30th. Morgan Stanley reissued an “overweight” rating and issued a $39.00 target price on shares of Alumis in a report on Friday, May 15th. HC Wainwright cut shares of Alumis from a “buy” rating to a “neutral” rating and set a $25.00 target price for the company. in a research report on Friday, May 15th. Guggenheim upped their price target on shares of Alumis from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Finally, Wall Street Zen downgraded shares of Alumis from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $40.30.

Alumis Stock Performance

The company has a market cap of $3.79 billion, a price-to-earnings ratio of -15.02 and a beta of -0.73. The business has a fifty day moving average price of $23.47 and a 200 day moving average price of $23.31.

Alumis (NASDAQ:ALMS) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.73) by ($0.01). Alumis had a negative net margin of 2,825.70% and a negative return on equity of 88.79%. The business had revenue of $1.74 million during the quarter, compared to analyst estimates of $2.10 million. As a group, equities analysts anticipate that Alumis Inc. will post -2.87 EPS for the current year.

Insider Buying and Selling at Alumis

In other news, insider Sanam Pangali sold 5,000 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $311,108. This trade represents a 31.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 33.70% of the company’s stock.

Hedge Funds Weigh In On Alumis

Institutional investors have recently added to or reduced their stakes in the stock. Samsara Biocapital LLC boosted its position in Alumis by 19.9% in the fourth quarter. Samsara Biocapital LLC now owns 5,756,984 shares of the company’s stock valued at $56,188,000 after buying an additional 955,614 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Alumis by 18.4% during the third quarter. Vanguard Group Inc. now owns 4,029,615 shares of the company’s stock worth $16,078,000 after buying an additional 625,404 shares during the last quarter. Cormorant Asset Management LP increased its holdings in shares of Alumis by 69.3% during the fourth quarter. Cormorant Asset Management LP now owns 3,635,596 shares of the company’s stock worth $35,483,000 after buying an additional 1,488,200 shares in the last quarter. Octagon Capital Advisors LP increased its holdings in shares of Alumis by 11.9% during the first quarter. Octagon Capital Advisors LP now owns 2,830,700 shares of the company’s stock worth $62,360,000 after buying an additional 300,000 shares in the last quarter. Finally, MPM Bioimpact LLC bought a new position in shares of Alumis in the 4th quarter valued at $23,443,000.

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.