Traders Purchase Large Volume of Alumis Put Options (NASDAQ:ALMS)

Alumis Inc. (NASDAQ:ALMS) was the recipient of unusually large options trading on Tuesday. Stock investors acquired 4,619 put options on the stock. This is an increase of 409% compared to the average volume of 907 put options.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ALMS shares. Citigroup reaffirmed a “neutral” rating on shares of Alumis in a research note on Monday, August 17th. Wells Fargo & Company upped their target price on Alumis from $49.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, May 15th. 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. Wall Street Zen raised Alumis from a “strong sell” rating to a “hold” rating in a research note on Sunday, August 23rd. Finally, Guggenheim upped their price objective on Alumis from $32.00 to $34.00 and gave the company a “buy” rating in a report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $40.30.

Alumis Stock Down 57.7%

Shares of Alumis stock traded down $12.60 during midday trading on Tuesday, hitting $9.21. The company’s stock had a trading volume of 17,836,342 shares, compared to its average volume of 2,000,476. The firm has a market capitalization of $1.19 billion, a P/E ratio of -2.40 and a beta of -0.69. The stock has a 50-day simple moving average of $26.50 and a 200-day simple moving average of $25.05. Alumis has a 1-year low of $3.76 and a 1-year high of $31.35.

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

Insider Buying and Selling

In related news, insider Jorn Drappa sold 2,447 shares of Alumis stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $26.37, for a total value of $64,527.39. Following the sale, the insider directly owned 56,892 shares in the company, valued at $1,500,242.04. This trade represents a 4.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Sanam Pangali sold 1,364 shares of the firm’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 $35,968.68. Following the transaction, the insider directly owned 9,747 shares in the company, valued at $257,028.39. This trade represents a 12.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 19,953 shares of company stock valued at $534,311 in the last three months. 33.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alumis

Institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. increased its holdings in Alumis by 320.9% in the third quarter. Russell Investments Group Ltd. now owns 6,419 shares of the company’s stock worth $26,000 after buying an additional 4,894 shares during the last quarter. New York State Common Retirement Fund raised its holdings in shares of Alumis by 173.7% during the 2nd quarter. New York State Common Retirement Fund now owns 11,767 shares of the company’s stock valued at $35,000 after purchasing an additional 7,467 shares in the last quarter. KBC Group NV acquired a new stake in shares of Alumis in the 1st quarter valued at $42,000. Strs Ohio boosted its holdings in Alumis by 300.0% in the first quarter. Strs Ohio now owns 2,000 shares of the company’s stock worth $44,000 after purchasing an additional 1,500 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in Alumis by 104.9% during the third quarter. BNP Paribas Financial Markets now owns 11,770 shares of the company’s stock worth $47,000 after buying an additional 6,027 shares during the last quarter.

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.