Alumis (NASDAQ:ALMS) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Alumis (NASDAQ:ALMS) from a sell rating to a hold rating in a research note released on Saturday morning.

Several other research firms have also weighed in on ALMS. Morgan Stanley lowered their price objective on shares of Alumis from $23.00 to $22.00 and set an “overweight” rating for the company in a research note on Friday, August 15th. HC Wainwright restated a “buy” rating and issued a $14.00 price target on shares of Alumis in a report on Thursday, August 14th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Alumis in a report on Tuesday, November 25th. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $19.20.

Alumis Trading Up 34.0%

ALMS stock opened at $11.12 on Friday. The firm has a market cap of $1.16 billion, a PE ratio of -2.75 and a beta of -1.87. The stock has a 50-day moving average price of $5.48 and a 200-day moving average price of $4.47. Alumis has a 1-year low of $2.76 and a 1-year high of $11.30.

Alumis (NASDAQ:ALMS) last released its earnings results on Thursday, November 13th. The company reported ($1.06) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.14). The company had revenue of $2.07 million during the quarter, compared to analyst estimates of $3.14 million. On average, analysts forecast that Alumis will post -8.51 earnings per share for the current year.

Insider Buying and Selling at Alumis

In other Alumis news, Director Srinivas Akkaraju acquired 276,179 shares of Alumis stock in a transaction dated Thursday, November 13th. The stock was purchased at an average cost of $5.25 per share, for a total transaction of $1,449,939.75. Following the completion of the acquisition, the director directly owned 276,179 shares of the company’s stock, valued at $1,449,939.75. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Foresite Labs, Llc bought 200,000 shares of the 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 acquisition, the insider directly owned 2,234,129 shares in the company, valued at $12,488,781.11. The trade was a 9.83% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought a total of 2,602,498 shares of company stock valued at $16,518,407 over the last ninety days. 40.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Alumis

Several institutional investors and hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its position in shares of Alumis by 12.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 127,854 shares of the company’s stock valued at $785,000 after buying an additional 14,453 shares during the last quarter. Invesco Ltd. bought a new stake in shares of Alumis in the 1st quarter worth $164,000. Nuveen LLC purchased a new stake in shares of Alumis in the first quarter valued at about $105,000. Corebridge Financial Inc. lifted its position in shares of Alumis by 53.0% during the first quarter. Corebridge Financial Inc. now owns 10,658 shares of the company’s stock valued at $65,000 after purchasing an additional 3,693 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Alumis by 64.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,535 shares of the company’s stock worth $77,000 after purchasing an additional 4,926 shares during the last quarter.

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.