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

Alumis Inc. (NASDAQ:ALMS) has been given an average recommendation of “Moderate Buy” by the twelve analysts that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $40.30.

Several analysts have recently issued reports on the company. Chardan Capital upped their price objective on Alumis from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, May 19th. Oppenheimer upped their price objective on Alumis from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Monday, March 30th. Raymond James Financial assumed coverage on Alumis in a research report on Tuesday, March 10th. They issued a “strong-buy” rating and a $46.00 price objective on the stock. Stifel Nicolaus assumed coverage on Alumis in a research report on Wednesday, February 25th. They issued a “buy” rating and a $44.00 price objective on the stock. Finally, Wall Street Zen downgraded Alumis from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th.

Alumis Stock Down 0.4%

Shares of NASDAQ:ALMS opened at $18.99 on Tuesday. Alumis has a 52-week low of $2.76 and a 52-week high of $30.60. The stock’s fifty day simple moving average is $22.94 and its 200-day simple moving average is $20.88. The company has a market capitalization of $2.42 billion, a P/E ratio of -9.59 and a beta of -0.55.

Alumis (NASDAQ:ALMS) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $1.74 million during the quarter, compared to analysts’ expectations of $2.10 million. On average, sell-side analysts anticipate that Alumis will post -2.87 earnings per share for the current year.

Hedge Funds Weigh In On Alumis

Several institutional investors have recently added to or reduced their stakes in the business. Samsara Biocapital LLC increased its stake in Alumis by 19.9% in the fourth quarter. Samsara Biocapital LLC now owns 5,756,984 shares of the company’s stock valued at $56,188,000 after purchasing an additional 955,614 shares during the last quarter. Vanguard Group Inc. increased its stake in Alumis by 18.4% in the third quarter. Vanguard Group Inc. now owns 4,029,615 shares of the company’s stock valued at $16,078,000 after purchasing an additional 625,404 shares during the last quarter. Cormorant Asset Management LP increased its stake in 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 purchasing an additional 1,488,200 shares during the last quarter. Octagon Capital Advisors LP increased its stake in Alumis by 11.9% in the first quarter. Octagon Capital Advisors LP now owns 2,830,700 shares of the company’s stock valued at $62,360,000 after purchasing an additional 300,000 shares during the last quarter. Finally, MPM Bioimpact LLC acquired a new position in Alumis in the fourth quarter valued at $23,443,000.

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.