Alumis (NASDAQ:ALMS) Upgraded by Wall Street Zen to “Hold” Rating

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

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

Alumis Stock Up 34.0%

Shares of NASDAQ ALMS opened at $11.12 on Friday. The stock’s 50 day moving average price is $5.48 and its two-hundred day moving average price is $4.47. Alumis has a 52-week low of $2.76 and a 52-week high of $11.30. The stock has a market capitalization of $1.16 billion, a P/E ratio of -2.75 and a beta of -1.87.

Alumis (NASDAQ:ALMS) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($1.06) earnings per share 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 analyst estimates of $3.14 million. On average, analysts anticipate that Alumis will post -8.51 EPS for the current year.

Insider Activity

In other news, major shareholder Foresite Labs, Llc acquired 200,000 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were acquired at an average price of $5.59 per share, with a total value of $1,118,000.00. Following the acquisition, the insider directly owned 2,234,129 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James B. Tananbaum acquired 200,000 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was purchased at an average price of $5.59 per share, for a total transaction of $1,118,000.00. Following the completion of the transaction, the director owned 2,234,129 shares in the company, valued at $12,488,781.11. The trade was a 9.83% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 2,602,498 shares of company stock worth $16,518,407 over the last ninety days. Insiders own 40.70% of the company’s stock.

Hedge Funds Weigh In On Alumis

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Samsara Biocapital LLC grew its holdings in Alumis by 47.0% in the 2nd quarter. Samsara Biocapital LLC now owns 4,801,370 shares of the company’s stock worth $14,404,000 after buying an additional 1,534,872 shares in the last quarter. Foresite Capital Management VI LLC raised its stake in Alumis by 1.1% during the 2nd quarter. Foresite Capital Management VI LLC now owns 4,247,670 shares of the company’s stock valued at $12,743,000 after acquiring an additional 45,000 shares in the last quarter. Vanguard Group Inc. raised its stake in Alumis by 18.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,029,615 shares of the company’s stock valued at $16,078,000 after acquiring an additional 625,404 shares in the last quarter. Trium Capital LLP boosted its position in Alumis by 17.9% during the 3rd quarter. Trium Capital LLP now owns 3,122,111 shares of the company’s stock worth $12,457,000 after acquiring an additional 474,072 shares during the period. Finally, Orbimed Advisors LLC bought a new position in shares of Alumis in the second quarter worth $5,779,000.

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.