Alumis Inc. (NASDAQ:ALMS) Receives Consensus Rating of “Moderate Buy” from Analysts

Alumis Inc. (NASDAQ:ALMS) has been assigned a consensus recommendation of “Moderate Buy” from the eleven analysts that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and ten have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $37.50.

Several research analysts recently commented on the stock. Oppenheimer restated an “outperform” rating and set a $50.00 target price on shares of Alumis in a report on Tuesday, January 6th. Citigroup reissued an “outperform” rating on shares of Alumis in a research report on Tuesday, January 6th. Morgan Stanley raised their price objective on Alumis from $22.00 to $33.00 and gave the company an “overweight” rating in a report on Wednesday, January 7th. Wall Street Zen upgraded Alumis from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Alumis in a research note on Monday, December 29th.

Alumis Stock Performance

Shares of NASDAQ ALMS opened at $26.59 on Wednesday. Alumis has a 52-week low of $2.76 and a 52-week high of $28.29. The stock has a market cap of $2.78 billion, a P/E ratio of -6.57 and a beta of -2.06. The firm has a 50 day moving average price of $17.71 and a 200 day moving average price of $9.36.

Alumis (NASDAQ:ALMS) last announced its quarterly 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 during the quarter, compared to the consensus estimate of $3.14 million. Analysts predict that Alumis will post -8.51 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Srinivas Akkaraju bought 588,235 shares of the stock in a transaction that occurred on Friday, January 9th. The shares were acquired at an average cost of $17.00 per share, for a total transaction of $9,999,995.00. Following the completion of the acquisition, the director owned 1,853,488 shares in the company, valued at approximately $31,509,296. This represents a 46.49% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Foresite Capital Management Vi acquired 411,764 shares of the firm’s stock in a transaction dated Thursday, January 8th. The stock was purchased at an average cost of $17.00 per share, with a total value of $6,999,988.00. Following the transaction, the insider 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 disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 4,612,402 shares of company stock valued at $49,352,316 over the last three months. Corporate insiders own 40.70% of the company’s stock.

Institutional Trading of Alumis

A number of hedge funds have recently made changes to their positions in the business. Samsara Biocapital LLC increased its holdings in shares of Alumis by 47.0% during the 2nd quarter. Samsara Biocapital LLC now owns 4,801,370 shares of the company’s stock worth $14,404,000 after acquiring an additional 1,534,872 shares during the last quarter. Foresite Capital Management VI LLC boosted its position in Alumis by 1.1% during the second quarter. Foresite Capital Management VI LLC now owns 4,247,670 shares of the company’s stock worth $12,743,000 after purchasing an additional 45,000 shares during the period. Vanguard Group Inc. increased its holdings in shares of Alumis by 18.4% in the third quarter. Vanguard Group Inc. now owns 4,029,615 shares of the company’s stock valued at $16,078,000 after purchasing an additional 625,404 shares during the last quarter. Trium Capital LLP increased its holdings in shares of Alumis by 17.9% in the third quarter. Trium Capital LLP now owns 3,122,111 shares of the company’s stock valued at $12,457,000 after purchasing an additional 474,072 shares during the last quarter. Finally, Orbimed Advisors LLC bought a new position in shares of Alumis in the second quarter valued at about $5,779,000.

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.