Alumis Inc. (NASDAQ:ALMS) Receives $33.27 Consensus PT from Analysts

Alumis Inc. (NASDAQ:ALMS) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen research firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $33.2727.

ALMS has been the topic of several research analyst reports. Cantor Fitzgerald restated an “overweight” rating on shares of Alumis in a research note on Wednesday. Oppenheimer reduced their target price on Alumis from $55.00 to $37.00 and set an “outperform” rating for the company in a research note on Wednesday, September 2nd. Citigroup reissued an “overweight” rating on shares of Alumis in a report on Tuesday, September 1st. Wells Fargo & Company dropped their price target on Alumis from $51.00 to $25.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 2nd. Finally, HC Wainwright raised Alumis from a “neutral” rating to a “buy” rating and cut their price target for the company from $25.00 to $15.00 in a report on Wednesday, September 2nd.

Alumis Price Performance

Alumis stock opened at $7.77 on Thursday. The company’s 50-day moving average is $21.56 and its 200-day moving average is $23.28. The firm has a market capitalization of $1.01 billion, a PE ratio of -2.01 and a beta of -0.81. Alumis has a fifty-two week low of $3.76 and a fifty-two week high of $31.35.

Alumis (NASDAQ:ALMS) last issued its earnings results on Thursday, August 13th. The company reported ($1.11) earnings per share (EPS) 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 firm had revenue of $1.66 million during the quarter, compared to analyst estimates of $3.65 million. As a group, analysts expect that Alumis will post -2.95 EPS for the current year.

Insider Buying and Selling

In related news, Director Srinivas Akkaraju bought 546,581 shares of Alumis stock in a transaction that occurred on Tuesday, September 8th. The stock was acquired at an average price of $10.63 per share, with a total value of $5,810,156.03. Following the acquisition, the director owned 4,937,026 shares of the company’s stock, valued at approximately $52,480,586.38. This represents a 12.45% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO John R. Schroer sold 3,282 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $26.37, for a total transaction of $86,546.34. Following the completion of the transaction, the chief financial officer owned 24,718 shares in the company, valued at approximately $651,813.66. This trade represents a 11.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 116,084 shares of company stock valued at $1,548,493. 33.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alumis

A number of institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System grew its position 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 stake in Alumis during the 1st quarter worth approximately $1,456,000. The Manufacturers Life Insurance Company boosted its stake in Alumis by 775.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 154,634 shares of the company’s stock valued at $3,407,000 after purchasing an additional 136,973 shares during the period. Elmind Capital LP bought a new stake in Alumis in the 2nd quarter valued at $3,658,200. Finally, Swiss National Bank acquired a new position in Alumis in the 1st quarter valued at $2,815,000.

Alumis Company Profile

Alumis, Inc is a clinical-stage biopharmaceutical company focused on developing oral therapies for immune-mediated diseases. The company’s lead investigational product is ESK-001, a selective allosteric tyrosine kinase 2 (TYK2) inhibitor designed to regulate immune signaling while potentially avoiding some safety limitations associated with broader immunosuppressive treatments.

ESK-001 is being evaluated in clinical trials for moderate-to-severe plaque psoriasis and systemic lupus erythematosus.