Shares of Alumis Inc. (NASDAQ:ALMS – Get Free Report) have earned a consensus recommendation of “Buy” from the nine research firms that are covering the stock, Marketbeat reports. Seven analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $22.86.
Several research firms have commented on ALMS. Cantor Fitzgerald reiterated an “overweight” rating on shares of Alumis in a research note on Thursday, March 20th. Guggenheim upgraded Alumis to a “buy” rating and set a $18.00 price objective for the company in a research note on Tuesday, June 10th. HC Wainwright reiterated a “buy” rating and set a $14.00 price objective on shares of Alumis in a research note on Wednesday, April 30th. Finally, Oppenheimer cut their price objective on Alumis from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Thursday, May 15th.
View Our Latest Analysis on ALMS
Alumis Stock Down 2.1%
Alumis (NASDAQ:ALMS – Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($1.82) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.47) by ($0.35). Analysts predict that Alumis will post -8.51 earnings per share for the current year.
Insider Activity
In related news, Director Srinivas Akkaraju purchased 159,920 shares of the company’s stock in a transaction dated Friday, May 2nd. The stock was acquired at an average cost of $4.55 per share, for a total transaction of $727,636.00. Following the completion of the transaction, the director now directly owns 3,426,418 shares of the company’s stock, valued at approximately $15,590,201.90. This trade represents a 4.90% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Martin Babler acquired 15,650 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was acquired at an average price of $6.44 per share, with a total value of $100,786.00. Following the completion of the transaction, the chief executive officer now directly owns 106,454 shares of the company’s stock, valued at $685,563.76. This trade represents a 17.23% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 397,044 shares of company stock worth $1,891,895 over the last ninety days. Corporate insiders own 40.70% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in ALMS. Corebridge Financial Inc. grew its position in Alumis by 53.0% in the first quarter. Corebridge Financial Inc. now owns 10,658 shares of the company’s stock worth $65,000 after acquiring an additional 3,693 shares during the period. Wells Fargo & Company MN grew its position in Alumis by 77.1% in the fourth quarter. Wells Fargo & Company MN now owns 8,779 shares of the company’s stock worth $69,000 after acquiring an additional 3,823 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Alumis by 64.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,535 shares of the company’s stock worth $77,000 after acquiring an additional 4,926 shares during the period. Rhumbline Advisers grew its position in Alumis by 21.7% in the first quarter. Rhumbline Advisers now owns 16,543 shares of the company’s stock worth $102,000 after acquiring an additional 2,949 shares during the period. Finally, Nuveen LLC purchased a new position in Alumis in the first quarter worth approximately $105,000.
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.
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