Alumis (NASDAQ:ALMS) Posts Quarterly Earnings Results, Misses Estimates By $0.05 EPS
by Danessa Lincoln · The Markets DailyAlumis (NASDAQ:ALMS – Get Free Report) posted its quarterly earnings data on Thursday. The company reported ($0.95) EPS for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.05), Zacks reports. Alumis had a negative net margin of 1,011.75% and a negative return on equity of 113.18%. The company had revenue of $1.93 million for the quarter, compared to analyst estimates of $2.75 million.
Alumis Stock Down 1.2%
ALMS opened at $25.07 on Friday. Alumis has a fifty-two week low of $2.76 and a fifty-two week high of $30.60. The firm has a market cap of $2.62 billion, a PE ratio of -8.19 and a beta of -2.15. The business has a fifty day simple moving average of $26.43 and a 200-day simple moving average of $13.72.
Analysts Set New Price Targets
ALMS has been the subject of a number of research analyst reports. Stifel Nicolaus assumed coverage on Alumis in a research report on Wednesday, February 25th. They issued a “buy” rating and a $44.00 target price for the company. Wells Fargo & Company lifted their price target on Alumis from $17.00 to $39.00 and gave the company an “overweight” rating in a research report on Tuesday, January 6th. HC Wainwright restated a “buy” rating and issued a $40.00 price objective (up from $20.00) on shares of Alumis in a report on Friday, January 9th. Oppenheimer reaffirmed an “outperform” rating and set a $50.00 target price on shares of Alumis in a research note on Tuesday, January 6th. Finally, Wall Street Zen raised Alumis from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Alumis currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.60.
Read Our Latest Report on Alumis
Insider Activity
In other news, major shareholder Foresite Capital Management Vi purchased 411,764 shares of Alumis stock in a transaction that occurred on Thursday, January 8th. The stock was acquired at an average price of $17.00 per share, for a total transaction of $6,999,988.00. Following the transaction, the insider owned 5,702,536 shares in the company, valued at $96,943,112. The trade was a 7.78% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James B. Tananbaum acquired 411,764 shares of the firm’s stock in a transaction that occurred on Thursday, January 8th. The stock was purchased at an average cost of $17.00 per share, with a total value of $6,999,988.00. Following the purchase, the director directly owned 5,702,536 shares in the company, valued at approximately $96,943,112. This trade represents a 7.78% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders acquired 1,823,527 shares of company stock valued at $30,999,959. 40.70% of the stock is currently owned by insiders.
Institutional Trading of Alumis
Several large investors have recently added to or reduced their stakes in the company. Banco BTG Pactual S.A. purchased a new position in Alumis in the fourth quarter valued at about $140,000. Engineers Gate Manager LP purchased a new stake in shares of Alumis during the 2nd quarter worth about $137,000. Bank of America Corp DE lifted its holdings in shares of Alumis by 76.4% during the 2nd quarter. Bank of America Corp DE now owns 41,693 shares of the company’s stock valued at $125,000 after buying an additional 18,055 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Alumis during the 1st quarter valued at about $111,000. Finally, American Century Companies Inc. bought a new stake in shares of Alumis in the 2nd quarter valued at approximately $106,000.
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.