Alumis (NASDAQ:ALMS) Stock Price Down 5.4% – Here’s Why

Shares of Alumis Inc. (NASDAQ:ALMS) traded down 5.4% on Wednesday . The company traded as low as $10.81 and last traded at $10.7850. 174,977 shares changed hands during trading, a decline of 77% from the average session volume of 749,727 shares. The stock had previously closed at $11.40.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ALMS shares. Wall Street Zen raised Alumis from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alumis in a research note on Monday. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Alumis has a consensus rating of “Moderate Buy” and a consensus target price of $19.20.

Alumis Trading Down 5.2%

The company has a 50-day moving average price of $6.51 and a 200 day moving average price of $4.82. The stock has a market capitalization of $1.13 billion, a P/E ratio of -2.67 and a beta of -1.87.

Alumis (NASDAQ:ALMS) last announced its earnings results on Thursday, November 13th. The company reported ($1.06) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.14). The business had revenue of $2.07 million for the quarter, compared to the consensus estimate of $3.14 million. As a group, research analysts expect that Alumis Inc. will post -8.51 earnings per share for the current year.

Insider Transactions at Alumis

In related news, major shareholder Foresite Capital Management Vi purchased 190,500 shares of Alumis stock in a transaction that occurred on Wednesday, November 19th. The stock was bought at an average cost of $6.56 per share, for a total transaction of $1,249,680.00. Following the completion of the transaction, the insider owned 2,542,003 shares in the company, valued at $16,675,539.68. The trade was a 8.10% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Srinivas Akkaraju bought 186,377 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The stock was purchased at an average price of $9.84 per share, with a total value of $1,833,949.68. Following the completion of the purchase, the director owned 1,265,253 shares in the company, valued at approximately $12,450,089.52. This trade represents a 17.28% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 2,788,875 shares of company stock worth $18,352,357 over the last 90 days. 40.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alumis

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. increased its stake in shares of Alumis by 320.9% during the third quarter. Russell Investments Group Ltd. now owns 6,419 shares of the company’s stock worth $26,000 after purchasing an additional 4,894 shares in the last quarter. Kera Capital Partners Inc. acquired a new stake in Alumis in the 2nd quarter worth about $32,000. Police & Firemen s Retirement System of New Jersey raised its holdings in shares of Alumis by 199.7% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 10,753 shares of the company’s stock valued at $32,000 after acquiring an additional 7,165 shares during the last quarter. New York State Common Retirement Fund lifted its position in shares of Alumis by 173.7% in the second quarter. New York State Common Retirement Fund now owns 11,767 shares of the company’s stock valued at $35,000 after acquiring an additional 7,467 shares in the last quarter. Finally, Western Wealth Management LLC acquired a new stake in shares of Alumis in the second quarter worth approximately $36,000.

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.