Alumis (NASDAQ:ALMS) Stock Price Down 5.2% – Time to Sell?

by · The Markets Daily

Alumis Inc. (NASDAQ:ALMS – Get Free Report)’s stock price fell 5.2% during mid-day trading on Thursday . The stock traded as low as $11.38 and last traded at $11.4810. 513,567 shares changed hands during mid-day trading, a decline of 31% from the average session volume of 749,580 shares. The stock had previously closed at $12.11.

Analysts Set New Price Targets

Several research firms have recently commented on ALMS. Wall Street Zen raised shares of Alumis from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. Morgan Stanley cut their target price on shares of Alumis from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Friday, August 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alumis in a report on Monday. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.20.

Get Our Latest Analysis on Alumis

Alumis Stock Performance

The stock has a fifty day moving average of $6.23 and a 200 day moving average of $4.70. The company has a market capitalization of $1.20 billion, a PE ratio of -2.84 and a beta of -1.87.

Alumis (NASDAQ:ALMS – Get Free Report) last announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $3.14 million. As a group, equities analysts predict that Alumis Inc. will post -8.51 EPS for the current year.

Insider Transactions at Alumis

In other Alumis news, major shareholder Foresite Labs, Llc bought 200,000 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was purchased at an average cost of $5.59 per share, with a total value of $1,118,000.00. Following the completion of the acquisition, the insider owned 2,234,129 shares in the company, valued at $12,488,781.11. This trade represents a 9.83% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Foresite Capital Management Vi purchased 200,000 shares of Alumis stock in a transaction that occurred on Monday, November 17th. The stock was acquired at an average price of $5.59 per share, for a total transaction of $1,118,000.00. Following the transaction, the insider directly owned 2,234,129 shares of the company’s stock, valued at $12,488,781.11. The trade was a 9.83% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have acquired 2,788,875 shares of company stock worth $18,352,357. 40.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alumis

Several institutional investors have recently bought and sold shares of ALMS. Russell Investments Group Ltd. increased its holdings in shares of Alumis by 320.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,419 shares of the company’s stock worth $26,000 after buying an additional 4,894 shares during the last quarter. CWM LLC grew its position in Alumis by 1,028.7% in the third quarter. CWM LLC now owns 10,384 shares of the company’s stock worth $41,000 after acquiring an additional 9,464 shares in the last quarter. Kera Capital Partners Inc. purchased a new position in Alumis in the second quarter worth about $32,000. Corebridge Financial Inc. increased its stake in Alumis by 53.0% during 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 last quarter. Finally, Police & Firemen s Retirement System of New Jersey raised its position in Alumis by 199.7% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 10,753 shares of the company’s stock valued at $32,000 after purchasing an additional 7,165 shares during the period.

Alumis Company Profile

(Get Free Report)

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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