Alumis (NASDAQ:ALMS) Trading Up 6.4% – Should You Buy?
by Danessa Lincoln · The Markets DailyAlumis Inc. (NASDAQ:ALMS – Get Free Report)’s share price was up 6.4% during mid-day trading on Monday . The company traded as high as $25.90 and last traded at $26.09. Approximately 1,323,503 shares traded hands during trading, a decline of 82% from the average daily volume of 7,525,080 shares. The stock had previously closed at $24.52.
Analyst Ratings Changes
ALMS has been the topic of several recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alumis in a report on Monday, December 29th. Loop Capital set a $37.00 price target on Alumis in a research report on Wednesday, January 21st. Guggenheim boosted their price objective on Alumis from $18.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, January 7th. UBS Group reaffirmed an “outperform” rating on shares of Alumis in a report on Tuesday, January 6th. Finally, Chardan Capital assumed coverage on Alumis in a report on Wednesday, January 21st. They issued a “buy” rating and a $37.00 price target for the company. Ten investment 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 company currently has an average rating of “Moderate Buy” and an average target price of $37.50.
View Our Latest Research Report on Alumis
Alumis Price Performance
The company has a market cap of $2.75 billion, a price-to-earnings ratio of -6.50 and a beta of -2.09. The firm has a 50 day simple moving average of $13.50 and a 200-day simple moving average of $7.60.
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 firm had revenue of $2.07 million during the quarter, compared to analyst estimates of $3.14 million. Research analysts anticipate that Alumis Inc. will post -8.51 EPS for the current fiscal year.
Insider Activity at Alumis
In related news, Director Srinivas Akkaraju purchased 588,235 shares of Alumis stock in a transaction dated Friday, January 9th. The shares were acquired at an average cost of $17.00 per share, with a total value of $9,999,995.00. Following the purchase, the director owned 1,853,488 shares of the company’s stock, valued at approximately $31,509,296. The trade was a 46.49% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James B. Tananbaum acquired 411,764 shares of the stock in a transaction that occurred on Thursday, January 8th. The shares were bought at an average cost of $17.00 per share, with a total value of $6,999,988.00. Following the transaction, the director directly owned 5,702,536 shares in the company, valued at $96,943,112. This trade represents a 7.78% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 4,612,402 shares of company stock valued at $49,352,316 in the last ninety days. Insiders own 40.70% of the company’s stock.
Institutional Investors Weigh In On Alumis
Several institutional investors and hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. lifted its stake in Alumis by 320.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,419 shares of the company’s stock worth $26,000 after acquiring an additional 4,894 shares in the last quarter. Police & Firemen s Retirement System of New Jersey lifted its position 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 worth $32,000 after purchasing an additional 7,165 shares in the last quarter. New York State Common Retirement Fund boosted its stake 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 purchasing an additional 7,467 shares during the period. Western Wealth Management LLC purchased a new position in shares of Alumis in the second quarter valued at approximately $36,000. Finally, ProShare Advisors LLC acquired a new position in shares of Alumis in the second quarter valued at approximately $40,000.
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.