Alumis (NASDAQ:ALMS) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Alumis (NASDAQ:ALMS) from a strong sell rating to a hold rating in a research note issued to investors on Sunday morning.

Several other brokerages have also issued reports on ALMS. Guggenheim lifted their target price on shares of Alumis from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Alumis in a research report on Tuesday, July 7th. Wells Fargo & Company raised their price target on shares of Alumis from $49.00 to $51.00 and gave the company an “overweight” rating in a research note on Friday, May 15th. HC Wainwright reiterated a “neutral” rating and issued a $25.00 price objective on shares of Alumis in a report on Friday, August 14th. Finally, Chardan Capital boosted their price objective on Alumis from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Alumis has a consensus rating of “Moderate Buy” and an average target price of $40.30.

Alumis Price Performance

Shares of NASDAQ:ALMS opened at $24.17 on Friday. The business’s 50 day moving average price is $26.53 and its 200-day moving average price is $25.19. Alumis has a 1 year low of $3.76 and a 1 year high of $31.35. The firm has a market capitalization of $3.13 billion, a price-to-earnings ratio of -6.26 and a beta of -0.69.

Alumis (NASDAQ:ALMS) 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). The company had revenue of $1.66 million during the quarter, compared to analysts’ expectations of $3.65 million. Alumis had a negative return on equity of 93.15% and a negative net margin of 5,933.46%. On average, sell-side analysts expect that Alumis will post -2.95 earnings per share for the current year.

Insider Buying and Selling at Alumis

In other news, insider Roy C. Hardiman sold 2,692 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 $70,988.04. Following the completion of the sale, the insider directly owned 207,746 shares in the company, valued at $5,478,262.02. This represents a 1.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mark Christopher Bradley sold 2,572 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $26.37, for a total transaction of $67,823.64. Following the completion of the transaction, the insider directly owned 48,533 shares in the company, valued at approximately $1,279,815.21. This represents a 5.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System increased its holdings in shares of Alumis by 2,222.5% in the first quarter. California State Teachers Retirement System now owns 80,845 shares of the company’s stock valued at $1,781,000 after purchasing an additional 77,364 shares during the last quarter. First Trust Advisors LP acquired a new position in Alumis during the first quarter worth $1,456,000. The Manufacturers Life Insurance Company boosted its stake in Alumis by 775.6% during the first quarter. The Manufacturers Life Insurance Company now owns 154,634 shares of the company’s stock worth $3,407,000 after buying an additional 136,973 shares during the last quarter. Swiss National Bank purchased a new stake in Alumis in the 1st quarter valued at $2,815,000. Finally, Elmind Capital LP acquired a new stake in shares of Alumis in the 1st quarter worth $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.