Alumis (NASDAQ:ALMS) Hits New 12-Month High – What’s Next?
by Doug Wharley · The Cerbat GemAlumis Inc. (NASDAQ:ALMS – Get Free Report)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $25.30 and last traded at $24.9690, with a volume of 1123828 shares trading hands. The stock had previously closed at $23.86.
Analyst Ratings Changes
ALMS has been the subject of several recent analyst reports. HC Wainwright restated a “buy” rating and set a $40.00 target price (up previously from $20.00) on shares of Alumis in a research note on Friday, January 9th. Citigroup reissued an “outperform” rating on shares of Alumis in a research report on Tuesday, January 6th. Wells Fargo & Company raised their price objective on shares of Alumis from $17.00 to $39.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 6th. UBS Group reiterated an “outperform” rating on shares of Alumis in a research note on Tuesday, January 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Alumis in a report on Monday, December 29th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.67.
Get Our Latest Research Report on Alumis
Alumis Stock Up 9.2%
The firm has a 50-day moving average of $11.44 and a 200 day moving average of $6.80. The stock has a market capitalization of $2.72 billion, a P/E ratio of -6.43 and a beta of -2.09.
Alumis (NASDAQ:ALMS – Get Free Report) 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 firm had revenue of $2.07 million for the quarter, compared to the consensus estimate of $3.14 million. Analysts predict that Alumis Inc. will post -8.51 EPS for the current fiscal year.
Insider Buying and Selling at Alumis
In related news, major shareholder Foresite Capital Management Vi purchased 411,764 shares of the firm’s stock in a transaction that occurred on Thursday, January 8th. The shares were acquired at an average price of $17.00 per share, with a total value of $6,999,988.00. Following the purchase, the insider directly owned 5,702,536 shares in the company, valued at $96,943,112. This represents a 7.78% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Srinivas Akkaraju purchased 588,235 shares of the stock in a transaction on Friday, January 9th. The stock was bought at an average price of $17.00 per share, for a total transaction of $9,999,995.00. Following the completion of the transaction, the director directly owned 1,853,488 shares of the company’s stock, valued at approximately $31,509,296. This trade represents a 46.49% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders bought 4,612,402 shares of company stock worth $49,352,316. 40.70% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Alumis
Several institutional investors and hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. increased its position in Alumis by 320.9% in the 3rd 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. Police & Firemen s Retirement System of New Jersey grew its stake in shares of 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 last quarter. New York State Common Retirement Fund increased its holdings in shares of Alumis by 173.7% in the second quarter. New York State Common Retirement Fund now owns 11,767 shares of the company’s stock valued at $35,000 after purchasing an additional 7,467 shares in the last quarter. Western Wealth Management LLC bought a new position in Alumis in the 2nd quarter worth approximately $36,000. Finally, ProShare Advisors LLC acquired a new position in Alumis during the 2nd quarter worth $40,000.
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.