Alumis (NASDAQ:ALMS) Hits New 12-Month High Following Analyst Upgrade

Alumis Inc. (NASDAQ:ALMS) shares reached a new 52-week high during mid-day trading on Saturday after Wall Street Zen upgraded the stock from a sell rating to a hold rating. The company traded as high as $11.30 and last traded at $11.12, with a volume of 4348117 shares trading hands. The stock had previously closed at $8.30.

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

Insider Transactions at Alumis

In other news, major shareholder Foresite Labs, Llc purchased 200,000 shares of the business’s stock in a transaction on Monday, November 17th. The shares were acquired at an average price of $5.59 per share, for a total transaction of $1,118,000.00. Following the completion of the acquisition, the insider 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Srinivas Akkaraju bought 276,179 shares of the stock in a transaction dated Thursday, November 13th. The shares were purchased 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 directly owned 276,179 shares of the company’s stock, valued at $1,449,939.75. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired a total of 2,602,498 shares of company stock valued at $16,518,407 in the last 90 days. Corporate insiders own 40.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ALMS. Stoneridge Investment Partners LLC grew its position in Alumis by 8.1% in 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 in the last quarter. Rhumbline Advisers lifted its position in shares of Alumis by 21.7% during the 1st quarter. Rhumbline Advisers now owns 16,543 shares of the company’s stock worth $102,000 after buying an additional 2,949 shares in the last quarter. Corebridge Financial Inc. boosted its stake in shares of Alumis by 53.0% in the 1st quarter. Corebridge Financial Inc. now owns 10,658 shares of the company’s stock worth $65,000 after buying an additional 3,693 shares during the last quarter. Russell Investments Group Ltd. grew its holdings 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 valued at $26,000 after acquiring an additional 4,894 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Alumis by 64.7% during 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 during the last quarter.

Alumis Price Performance

The stock has a fifty day moving average of $5.48 and a 200 day moving average of $4.47. The firm has a market capitalization of $1.16 billion, a P/E ratio of -2.75 and a beta of -1.91.

Alumis (NASDAQ:ALMS) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.14). The business had revenue of $2.07 million during the quarter, compared to analysts’ expectations of $3.14 million. Equities analysts forecast that Alumis Inc. will post -8.51 EPS for the current fiscal 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.