Alumis (NASDAQ:ALMS) Raised to Hold at Wall Street Zen

Alumis (NASDAQ:ALMS) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

Several other brokerages also recently commented on ALMS. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alumis in a research report on Tuesday, November 25th. HC Wainwright reissued a “buy” rating and set a $14.00 target price on shares of Alumis in a research note on Thursday, August 14th. Finally, Morgan Stanley cut their price target on shares of Alumis from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Friday, August 15th. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.20.

Alumis Price Performance

Shares of NASDAQ:ALMS opened at $11.12 on Friday. Alumis has a 1 year low of $2.76 and a 1 year high of $11.30. The business has a 50 day simple moving average of $5.48 and a two-hundred day simple moving average of $4.47. The firm has a market capitalization of $1.16 billion, a PE ratio of -2.75 and a beta of -1.87.

Alumis (NASDAQ:ALMS) last released its earnings results on Thursday, November 13th. The company reported ($1.06) EPS 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 analysts’ expectations of $3.14 million. Equities research analysts expect that Alumis will post -8.51 EPS for the current fiscal year.

Insider Transactions at Alumis

In other news, Director Srinivas Akkaraju purchased 66,027 shares of the company’s stock in a transaction dated Thursday, December 4th. The shares were acquired at an average price of $8.18 per share, with a total value of $540,100.86. Following the transaction, the director owned 1,078,876 shares of the company’s stock, valued at $8,825,205.68. This represents a 6.52% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Foresite Capital Management Vi acquired 190,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The stock was purchased at an average price of $6.56 per share, with a total value of $1,249,680.00. Following the completion of the acquisition, the insider directly owned 2,542,003 shares of the company’s stock, valued at $16,675,539.68. This represents a 8.10% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 2,602,498 shares of company stock valued at $16,518,407 over the last 90 days. 40.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alumis

Large investors have recently modified their holdings of the business. Stonepine Capital Management LLC bought a new position in Alumis in the second quarter worth approximately $1,049,000. Corebridge Financial Inc. boosted its position in Alumis by 53.0% during the 1st quarter. Corebridge Financial Inc. now owns 10,658 shares of the company’s stock valued at $65,000 after acquiring an additional 3,693 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Alumis in the 2nd quarter valued at $368,000. Credit Industriel ET Commercial raised its position in shares of Alumis by 178.8% in the 2nd quarter. Credit Industriel ET Commercial now owns 387,002 shares of the company’s stock worth $1,161,000 after acquiring an additional 248,202 shares in the last quarter. Finally, Blair William & Co. IL bought a new position in shares of Alumis in the 2nd quarter worth $200,000.

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.