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

by · The Cerbat Gem

Alumis Inc. (NASDAQ:ALMS – Get Free Report) has been assigned a consensus rating of “Moderate Buy” from the thirteen ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $33.2727.

Several equities analysts have recently weighed in on ALMS shares. Guggenheim cut Alumis from a “buy” rating to a “neutral” rating in a report on Thursday, September 3rd. Oppenheimer cut their price target on shares of Alumis from $55.00 to $37.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 2nd. Wells Fargo & Company reduced their price target on shares of Alumis from $51.00 to $25.00 and set an “overweight” rating for the company in a report on Wednesday, September 2nd. Citigroup reissued an “overweight” rating on shares of Alumis in a research report on Tuesday, September 1st. Finally, Robert W. Baird set a $27.00 price objective on shares of Alumis in a research report on Tuesday, September 1st.

Check Out Our Latest Analysis on Alumis

Alumis Trading Down 8.3%

NASDAQ:ALMS opened at $7.44 on Thursday. Alumis has a 1-year low of $3.76 and a 1-year high of $31.35. The firm has a market capitalization of $963.00 million, a price-to-earnings ratio of -1.93 and a beta of -0.81. The business’s 50-day moving average price is $20.35 and its two-hundred day moving average price is $22.80.

Alumis (NASDAQ:ALMS – Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($1.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.34). The company had revenue of $1.66 million during the quarter, compared to the consensus estimate of $3.65 million. Alumis had a negative net margin of 5,933.46% and a negative return on equity of 93.15%. Sell-side analysts predict that Alumis will post -2.95 earnings per share for the current year.

Insider Transactions at Alumis

In related news, Director Srinivas Akkaraju sold 96,131 shares of the stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $10.55, for a total transaction of $1,014,182.05. Following the completion of the transaction, the director directly owned 2,025,493 shares in the company, valued at approximately $21,368,951.15. This trade represents a 4.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jorn Drappa sold 2,447 shares of Alumis stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $26.37, for a total value of $64,527.39. Following the completion of the sale, the insider directly owned 56,892 shares in the company, valued at approximately $1,500,242.04. This represents a 4.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 116,084 shares of company stock worth $1,548,493. 33.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alumis

Large investors have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Alumis in the second quarter worth $231,259,000. venBio Partners LLC bought a new position in Alumis in the second quarter valued at $127,429,401. Cormorant Asset Management LP increased its stake in Alumis by 69.3% in the 4th quarter. Cormorant Asset Management LP now owns 3,635,596 shares of the company’s stock valued at $35,483,000 after buying an additional 1,488,200 shares during the last quarter. Octagon Capital Advisors LP lifted its position 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 buying an additional 300,000 shares in the last quarter. Finally, Jupiter Topco LLC bought a new stake in Alumis during the 2nd quarter worth about $66,238,000.

Alumis Company Profile

(Get Free Report)

Alumis, Inc is a clinical-stage biopharmaceutical company focused on developing oral therapies for immune-mediated diseases. The company’s lead investigational product is ESK-001, a selective allosteric tyrosine kinase 2 (TYK2) inhibitor designed to regulate immune signaling while potentially avoiding some safety limitations associated with broader immunosuppressive treatments.

ESK-001 is being evaluated in clinical trials for moderate-to-severe plaque psoriasis and systemic lupus erythematosus.

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