Alumis (NASDAQ:ALMS) Shares Up 5.7% – What’s Next?

Alumis Inc. (NASDAQ:ALMS)’s share price was up 5.7% on Friday . The company traded as high as $28.64 and last traded at $28.78. 295,097 shares traded hands during trading, a decline of 86% from the average daily volume of 2,138,687 shares. The stock had previously closed at $27.23.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ALMS. Citigroup reaffirmed a “buy” rating on shares of Alumis in a research report on Tuesday, May 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Alumis in a research note on Tuesday, July 7th. Oppenheimer lifted their price target on Alumis from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Monday, March 30th. Guggenheim upped their price objective on shares of Alumis from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Finally, Wall Street Zen lowered shares of Alumis from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Alumis currently has a consensus rating of “Moderate Buy” and an average target price of $40.30.

Alumis Trading Up 5.3%

The company has a market capitalization of $3.65 billion, a PE ratio of -14.47 and a beta of -0.73. The company’s 50 day moving average price is $24.03 and its 200-day moving average price is $24.06.

Alumis (NASDAQ:ALMS) last issued its earnings results on Thursday, May 14th. The company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.01). Alumis had a negative net margin of 2,825.70% and a negative return on equity of 88.79%. The firm had revenue of $1.74 million during the quarter, compared to analyst estimates of $2.10 million. As a group, analysts predict that Alumis Inc. will post -2.87 earnings per share for the current year.

Insider Activity at Alumis

In other news, insider Sanam Pangali sold 5,000 shares of Alumis stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $28.00, for a total value of $140,000.00. Following the transaction, the insider directly owned 11,111 shares of the company’s stock, valued at $311,108. The trade was a 31.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 33.70% of the stock is currently owned by company insiders.

Institutional Trading of Alumis

A number of institutional investors and hedge funds have recently bought and sold shares of ALMS. Cormorant Asset Management LP grew its stake in shares of Alumis by 69.3% in the fourth 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 in the last quarter. PSP Research LLC acquired a new position in Alumis during the 4th quarter worth approximately $427,000. Grange Capital LLC purchased a new position in Alumis in the 4th quarter worth approximately $312,000. Los Angeles Capital Management LLC boosted its holdings in Alumis by 32.9% in the 4th quarter. Los Angeles Capital Management LLC now owns 163,084 shares of the company’s stock worth $1,592,000 after acquiring an additional 40,383 shares during the period. Finally, AXQ Capital LP grew its position in Alumis by 35.8% in the fourth quarter. AXQ Capital LP now owns 26,417 shares of the company’s stock valued at $258,000 after acquiring an additional 6,965 shares in the last quarter.

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.