Alumis (NASDAQ:ALMS) Stock Price Up 8.2% – Should You Buy?

Alumis Inc. (NASDAQ:ALMS)’s share price rose 8.2% during mid-day trading on Friday . The stock traded as high as $22.15 and last traded at $22.6060. Approximately 81,682 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 2,199,926 shares. The stock had previously closed at $20.90.

Wall Street Analyst Weigh In

ALMS has been the topic of several research analyst reports. Oppenheimer raised their price objective on shares of Alumis from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Monday, March 30th. Raymond James Financial initiated coverage on shares of Alumis in a research note on Tuesday, March 10th. They issued a “strong-buy” rating and a $46.00 price objective on the stock. HC Wainwright downgraded shares of Alumis from a “buy” rating to a “neutral” rating and set a $25.00 price objective on the stock. in a research note on Friday, May 15th. Stifel Nicolaus initiated coverage on shares of Alumis in a research note on Wednesday, February 25th. They issued a “buy” rating and a $44.00 price objective on the stock. Finally, Chardan Capital raised their price objective on shares of Alumis from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Alumis presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.30.

Alumis Price Performance

The stock’s 50 day simple moving average is $22.85 and its two-hundred day simple moving average is $21.19. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of -12.20 and a beta of -0.56.

Alumis (NASDAQ:ALMS) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.01). Alumis had a negative return on equity of 88.79% and a negative net margin of 2,825.70%.The business had revenue of $1.74 million for the quarter, compared to analyst estimates of $2.10 million. As a group, analysts predict that Alumis Inc. will post -2.87 earnings per share for the current year.

Institutional Investors Weigh In On Alumis

Institutional investors have recently bought and sold shares of the business. AXQ Capital LP acquired a new stake in shares of Alumis in the 3rd quarter valued at $78,000. Grange Capital LLC acquired a new stake in shares of Alumis in the 4th quarter valued at $312,000. PSP Research LLC acquired a new stake in shares of Alumis in the 4th quarter valued at $427,000. Los Angeles Capital Management LLC boosted its stake in shares of Alumis by 32.9% in the 4th quarter. Los Angeles Capital Management LLC now owns 163,084 shares of the company’s stock valued at $1,592,000 after purchasing an additional 40,383 shares in the last quarter. Finally, Strs Ohio boosted its stake in shares of Alumis by 300.0% in the 1st quarter. Strs Ohio now owns 2,000 shares of the company’s stock valued at $44,000 after purchasing an additional 1,500 shares in the last quarter.

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.