Alumis (NASDAQ:ALMS) Stock Price Down 3.7% – Here’s What Happened
by Renee Jackson · The Cerbat GemShares of Alumis Inc. (NASDAQ:ALMS – Get Free Report) were down 3.7% during mid-day trading on Tuesday . The company traded as low as $10.15 and last traded at $10.0610. Approximately 191,011 shares were traded during trading, a decline of 75% from the average daily volume of 759,305 shares. The stock had previously closed at $10.45.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Alumis in a research report on Monday. HC Wainwright upped their price objective on shares of Alumis from $14.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, December 18th. Finally, Wall Street Zen upgraded Alumis from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $20.40.
View Our Latest Stock Report on ALMS
Alumis Price Performance
The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of -2.41 and a beta of -1.87. The business has a 50 day moving average of $7.89 and a 200 day moving average of $5.39.
Alumis (NASDAQ:ALMS – Get Free Report) last released its quarterly earnings results on Thursday, November 13th. The company reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.14). The business had revenue of $2.07 million during the quarter, compared to analysts’ expectations of $3.14 million. As a group, equities analysts predict that Alumis Inc. will post -8.51 EPS for the current year.
Insider Transactions at Alumis
In other news, Director Srinivas Akkaraju purchased 276,179 shares of the firm’s stock in a transaction dated Thursday, November 13th. The shares were purchased at an average price of $5.25 per share, with a total value of $1,449,939.75. Following the completion of the acquisition, the director owned 276,179 shares in the company, valued at $1,449,939.75. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Foresite Labs, Llc acquired 200,000 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were purchased at an average cost of $5.59 per share, for a total transaction of $1,118,000.00. Following the completion of the acquisition, the insider owned 2,234,129 shares in the company, valued at $12,488,781.11. This represents a 9.83% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 2,788,875 shares of company stock valued at $18,352,357 in the last 90 days. Corporate insiders own 40.70% of the company’s stock.
Institutional Trading of Alumis
Several institutional investors have recently added to or reduced their stakes in ALMS. Jacobs Levy Equity Management Inc. purchased a new stake in Alumis in the third quarter worth about $160,000. Woodline Partners LP raised its stake in shares of Alumis by 809.7% in the third quarter. Woodline Partners LP now owns 1,751,150 shares of the company’s stock valued at $6,987,000 after acquiring an additional 1,558,660 shares during the period. PharVision Advisers LLC bought a new stake in shares of Alumis during the 3rd quarter worth approximately $83,000. Prelude Capital Management LLC grew its holdings in shares of Alumis by 698.0% in the third quarter. Prelude Capital Management LLC now owns 87,832 shares of the company’s stock worth $350,000 after purchasing an additional 76,825 shares during the last quarter. Finally, Mariner LLC lifted its position in shares of Alumis by 177.3% in the 3rd quarter. Mariner LLC now owns 84,873 shares of the company’s stock worth $339,000 after purchasing an additional 54,269 shares during the period.
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.