Alumis Inc. (NASDAQ:ALMS) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Alumis Inc. (NASDAQ:ALMS) have been assigned an average rating of “Moderate Buy” from the eleven ratings firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and ten have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $37.50.

A number of equities analysts have recently issued reports on the company. Morgan Stanley increased their price objective on Alumis from $22.00 to $33.00 and gave the company an “overweight” rating in a research report on Wednesday, January 7th. Loop Capital set a $37.00 target price on Alumis in a research note on Wednesday, January 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alumis in a research report on Monday, December 29th. Guggenheim lifted their price target on shares of Alumis from $18.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Finally, UBS Group reaffirmed an “outperform” rating on shares of Alumis in a research note on Tuesday, January 6th.

Insider Buying and Selling

In related news, major shareholder Foresite Labs, Llc acquired 411,764 shares of the firm’s stock in a transaction dated Thursday, January 8th. The shares were purchased at an average price of $17.00 per share, for a total transaction of $6,999,988.00. Following the completion of the acquisition, the insider owned 5,702,536 shares in the company, valued at approximately $96,943,112. This represents a 7.78% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director James B. Tananbaum bought 411,764 shares of the company’s stock in a transaction that occurred on Thursday, January 8th. The shares were bought at an average price of $17.00 per share, with a total value of $6,999,988.00. Following the completion of the acquisition, 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 ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 4,612,402 shares of company stock valued at $49,352,316 over the last three months. 40.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alumis

Several institutional investors have recently added to or reduced their stakes in the company. Grange Capital LLC bought a new stake in Alumis in the 4th quarter worth $312,000. Inscription Capital LLC boosted its holdings in shares of Alumis by 30.5% during the fourth quarter. Inscription Capital LLC now owns 26,667 shares of the company’s stock worth $260,000 after purchasing an additional 6,233 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Alumis by 26.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,724 shares of the company’s stock worth $46,000 after purchasing an additional 979 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Alumis in the third quarter worth about $160,000. Finally, Woodline Partners LP increased its holdings in Alumis by 809.7% during the 3rd quarter. Woodline Partners LP now owns 1,751,150 shares of the company’s stock valued at $6,987,000 after purchasing an additional 1,558,660 shares during the period.

Alumis Price Performance

Shares of NASDAQ:ALMS opened at $27.04 on Wednesday. The company’s fifty day moving average price is $15.83 and its 200-day moving average price is $8.57. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of -6.68 and a beta of -2.06. Alumis has a one year low of $2.76 and a one year high of $28.29.

Alumis (NASDAQ:ALMS) last announced its earnings results 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 company had revenue of $2.07 million for the quarter, compared to the consensus estimate of $3.14 million. As a group, equities research analysts expect that Alumis will post -8.51 EPS for the current year.

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.