Alumis (NASDAQ:ALMS) Shares Up 5.7% – Time to Buy?

Shares of Alumis Inc. (NASDAQ:ALMS) rose 5.7% during trading on Friday . The stock traded as high as $28.64 and last traded at $28.78. Approximately 295,097 shares were traded during mid-day trading, a decline of 86% from the average session volume of 2,138,687 shares. The stock had previously closed at $27.23.

Analysts Set New Price Targets

Several research firms have commented on ALMS. Weiss Ratings reissued a “sell (d-)” rating on shares of Alumis in a report on Tuesday, July 7th. HC Wainwright downgraded Alumis from a “buy” rating to a “neutral” rating and set a $25.00 target price on the stock. in a research report on Friday, May 15th. Guggenheim increased their price target on Alumis from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Morgan Stanley restated an “overweight” rating and set a $39.00 price target on shares of Alumis in a report on Friday, May 15th. Finally, Citigroup reaffirmed a “buy” rating on shares of Alumis 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 given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $40.30.

Alumis Trading Up 4.8%

The business’s 50 day simple moving average is $23.93 and its 200 day simple moving average is $24.03. The firm has a market capitalization of $3.64 billion, a PE ratio of -14.39 and a beta of -0.73.

Alumis (NASDAQ:ALMS) last announced its earnings results on Thursday, May 14th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.73) by ($0.01). The business had revenue of $1.74 million for the quarter, compared to analysts’ expectations of $2.10 million. Alumis had a negative net margin of 2,825.70% and a negative return on equity of 88.79%. Analysts forecast that Alumis Inc. will post -2.87 earnings per share for the current year.

Insider Activity

In other Alumis news, insider Sanam Pangali sold 5,000 shares of the business’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $28.00, for a total transaction of $140,000.00. Following the transaction, the insider owned 11,111 shares in the company, valued at $311,108. The trade was a 31.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 33.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ALMS. Samsara Biocapital LLC increased its holdings in Alumis by 19.9% during the 4th quarter. Samsara Biocapital LLC now owns 5,756,984 shares of the company’s stock worth $56,188,000 after purchasing an additional 955,614 shares during the period. Vanguard Group Inc. grew its stake in 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. Cormorant Asset Management LP grew its stake in Alumis by 69.3% in the fourth quarter. Cormorant Asset Management LP now owns 3,635,596 shares of the company’s stock valued at $35,483,000 after purchasing an additional 1,488,200 shares during the last quarter. Octagon Capital Advisors LP raised its holdings in Alumis by 11.9% in the first quarter. Octagon Capital Advisors LP now owns 2,830,700 shares of the company’s stock worth $62,360,000 after purchasing an additional 300,000 shares in the last quarter. Finally, MPM Bioimpact LLC purchased a new stake in shares of Alumis during the fourth quarter valued at about $23,443,000.

About Alumis

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.