Alumis Inc. (NASDAQ:ALMS) Stock Has Average Target Price of $33.27 According to Analysts

Alumis Inc. (NASDAQ:ALMS) has earned an average rating of “Moderate Buy” from the fourteen brokerages that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, eleven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $33.27.

Several equities research analysts recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alumis in a report on Friday, October 2nd. Benchmark reaffirmed a “buy” rating on shares of Alumis in a report on Monday, October 5th. Citigroup reiterated an “overweight” rating on shares of Alumis in a research note on Tuesday, September 1st. Guggenheim cut shares of Alumis from a “buy” rating to a “neutral” rating in a report on Thursday, September 3rd. Finally, HC Wainwright restated a “buy” rating on shares of Alumis in a research report on Monday, October 5th.

Alumis Trading Down 3.0%

Shares of Alumis stock opened at $6.12 on Monday. The firm’s 50-day moving average is $13.24 and its 200 day moving average is $20.60. Alumis has a 1 year low of $4.37 and a 1 year 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 return on equity of 93.15% and a negative net margin of 5,933.46%. The firm had revenue of $1.66 million during the quarter, compared to analysts’ expectations of $3.65 million. Equities analysts expect that Alumis will post -2.95 EPS for the current year.

Insider Activity

In other news, insider David Goldstein sold 2,596 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $26.37, for a total value of $68,456.52. Following the transaction, the insider directly owned 30,970 shares in the company, valued at $816,678.90. This trade represents a 7.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Roy Hardiman sold 2,692 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 $70,988.04. Following the sale, the insider directly owned 207,746 shares of the company’s stock, valued at $5,478,262.02. The trade was a 1.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 111,084 shares of company stock worth $1,408,493. Insiders own 33.70% of the company’s stock.

Institutional Trading of Alumis

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALMS. BlackRock Inc. purchased a new stake in Alumis in the second quarter worth about $231,259,000. venBio Partners LLC purchased a new stake in Alumis in the 2nd quarter worth approximately $127,429,401. Jupiter Topco LLC purchased a new stake in Alumis in the 2nd quarter worth approximately $66,238,000. Octagon Capital Advisors LP raised its stake in Alumis by 11.9% during the 1st quarter. Octagon Capital Advisors LP now owns 2,830,700 shares of the company’s stock worth $62,360,000 after acquiring an additional 300,000 shares during the period. Finally, Janus Henderson Group PLC bought a new position in shares of Alumis in the first quarter worth approximately $46,790,000.

About Alumis

Alumis, Inc is a clinical-stage biopharmaceutical company focused on developing oral therapies for immune-mediated diseases. The company’s research centers on selective allosteric inhibitors of tyrosine kinase 2 (TYK2), a protein involved in signaling pathways that regulate inflammation and immune responses.

Alumis’ lead product candidate is ESK-001, an oral, highly selective TYK2 inhibitor being evaluated in inflammatory and autoimmune conditions, including plaque psoriasis, psoriatic arthritis and systemic lupus erythematosus.