Alumis (NASDAQ:ALMS) Issues Earnings Results

Alumis (NASDAQ:ALMS) issued its earnings results on Thursday. The company reported ($1.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.38), FiscalAI reports. The company had revenue of $1.66 million during the quarter, compared to analyst estimates of $3.47 million. Alumis had a negative net margin of 2,825.70% and a negative return on equity of 88.79%.

Alumis Stock Performance

Shares of ALMS stock traded down $1.14 on Thursday, hitting $24.41. The company had a trading volume of 831,496 shares, compared to its average volume of 1,991,038. Alumis has a twelve month low of $3.76 and a twelve month high of $31.35. The firm has a market cap of $3.11 billion, a P/E ratio of -12.33 and a beta of -0.69. The stock’s 50-day moving average is $25.98 and its two-hundred day moving average is $25.27.

Insiders Place Their Bets

In other Alumis news, insider David M. Goldstein sold 2,596 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $26.37, for a total transaction of $68,456.52. Following the completion of the transaction, the insider owned 30,970 shares in the company, valued at approximately $816,678.90. This trade represents a 7.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sanam Pangali sold 1,364 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $26.37, for a total transaction of $35,968.68. Following the completion of the transaction, the insider owned 9,747 shares in the company, valued at $257,028.39. This trade represents a 12.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 19,953 shares of company stock valued at $534,311 over the last three months. Insiders own 33.70% of the company’s stock.

Hedge Funds Weigh In On Alumis

Hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. boosted its position in Alumis by 320.9% during the third quarter. Russell Investments Group Ltd. now owns 6,419 shares of the company’s stock valued at $26,000 after acquiring an additional 4,894 shares during the last quarter. New York State Common Retirement Fund raised its position in shares of Alumis by 173.7% in the 2nd quarter. New York State Common Retirement Fund now owns 11,767 shares of the company’s stock worth $35,000 after acquiring an additional 7,467 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Alumis by 104.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,770 shares of the company’s stock valued at $47,000 after purchasing an additional 6,027 shares during the period. The Manufacturers Life Insurance Company acquired a new position in shares of Alumis in the 2nd quarter valued at about $56,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Alumis by 64.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,535 shares of the company’s stock valued at $77,000 after purchasing an additional 4,926 shares in the last quarter.

Wall Street Analyst Weigh In

ALMS has been the topic of several recent research reports. Wells Fargo & Company raised their price objective on Alumis from $49.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, May 15th. Morgan Stanley reaffirmed an “overweight” rating and issued a $39.00 target price on shares of Alumis in a report on Friday, May 15th. Wall Street Zen lowered Alumis from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Alumis in a report on Tuesday, July 7th. Finally, Chardan Capital upped their price objective on Alumis from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $40.30.

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.