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

Alumis (NASDAQ:ALMS) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Other analysts have also recently issued reports about the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alumis in a research report on Tuesday, November 25th. HC Wainwright restated a “buy” rating and set a $14.00 price objective on shares of Alumis in a research note on Thursday, August 14th. Finally, Morgan Stanley decreased their target price on Alumis from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Friday, August 15th. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Alumis presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.20.

Alumis Stock Performance

NASDAQ ALMS opened at $11.12 on Friday. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -2.75 and a beta of -1.87. Alumis has a one year low of $2.76 and a one year high of $11.30. The company’s 50 day moving average price is $5.48 and its 200 day moving average price is $4.47.

Alumis (NASDAQ:ALMS) last released its quarterly earnings data on Thursday, November 13th. The company reported ($1.06) earnings per share (EPS) 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. Sell-side analysts forecast that Alumis will post -8.51 EPS for the current fiscal year.

Insider Activity

In other Alumis news, major shareholder Foresite Capital Management Vi bought 200,000 shares of the stock in a transaction dated Monday, November 17th. The stock was bought at an average cost of $5.59 per share, for a total transaction of $1,118,000.00. Following the completion of the purchase, the insider directly owned 2,234,129 shares of the company’s stock, valued at approximately $12,488,781.11. The trade was a 9.83% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Srinivas Akkaraju bought 276,179 shares of the company’s stock in a transaction dated Thursday, November 13th. The shares were acquired at an average cost of $5.25 per share, for a total transaction of $1,449,939.75. Following the completion of the transaction, the director owned 276,179 shares of the company’s stock, valued at approximately $1,449,939.75. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have bought 2,602,498 shares of company stock worth $16,518,407. 40.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alumis

A number of hedge funds have recently bought and sold shares of the business. Stoneridge Investment Partners LLC increased its holdings in Alumis by 8.1% during the 3rd quarter. Stoneridge Investment Partners LLC now owns 29,535 shares of the company’s stock worth $118,000 after purchasing an additional 2,210 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Alumis by 21.7% during the 1st quarter. Rhumbline Advisers now owns 16,543 shares of the company’s stock valued at $102,000 after buying an additional 2,949 shares during the last quarter. Corebridge Financial Inc. grew its position in shares of Alumis by 53.0% during the first quarter. Corebridge Financial Inc. now owns 10,658 shares of the company’s stock worth $65,000 after buying an additional 3,693 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Alumis by 320.9% in the third quarter. Russell Investments Group Ltd. now owns 6,419 shares of the company’s stock worth $26,000 after buying an additional 4,894 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Alumis by 64.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,535 shares of the company’s stock valued at $77,000 after acquiring an additional 4,926 shares in the last quarter.

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.