Alumis (NASDAQ:ALMS) Rating Increased 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 research report issued on Saturday.

ALMS has been the subject of a number of other research reports. Morgan Stanley lowered their price objective on Alumis from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Friday, August 15th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Alumis in a research note on Tuesday, November 25th. Finally, HC Wainwright reissued a “buy” rating and issued a $14.00 price target on shares of Alumis in a report on Thursday, August 14th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $19.20.

Alumis Stock Up 34.0%

NASDAQ ALMS opened at $11.12 on Friday. The firm has a market cap of $1.16 billion, a PE ratio of -2.75 and a beta of -1.87. The company has a 50 day moving average price of $5.48 and a 200 day moving average price of $4.47. Alumis has a 52 week low of $2.76 and a 52 week high of $11.30.

Alumis (NASDAQ:ALMS) last announced its earnings results on Thursday, November 13th. The company reported ($1.06) earnings per share 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. On average, equities research analysts anticipate that Alumis will post -8.51 earnings per share for the current fiscal year.

Insider Transactions at Alumis

In other news, major shareholder Foresite Capital Management Vi purchased 190,500 shares of the company’s stock in a transaction on Wednesday, November 19th. The shares were acquired at an average price of $6.56 per share, for a total transaction of $1,249,680.00. Following the purchase, the insider owned 2,542,003 shares in the company, valued at $16,675,539.68. This trade represents a 8.10% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Foresite Labs, Llc acquired 190,500 shares of the business’s stock in a transaction dated Wednesday, November 19th. The stock was purchased at an average cost of $6.56 per share, for a total transaction 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 approximately $16,675,539.68. This trade represents a 8.10% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders purchased 2,602,498 shares of company stock worth $16,518,407. 40.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Alumis

Hedge funds and other institutional investors have recently bought and sold shares of the business. Stonepine Capital Management LLC purchased a new position in Alumis during the 2nd quarter worth approximately $1,049,000. Corebridge Financial Inc. boosted its holdings in shares of Alumis by 53.0% in 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 during the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Alumis in the second quarter worth $368,000. Credit Industriel ET Commercial raised its holdings in shares of Alumis by 178.8% during the second quarter. Credit Industriel ET Commercial now owns 387,002 shares of the company’s stock worth $1,161,000 after purchasing an additional 248,202 shares during the last quarter. Finally, Blair William & Co. IL purchased a new position in shares of Alumis during the second 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.