Analysts Set Alumis Inc. (NASDAQ:ALMS) PT at $19.20

Alumis Inc. (NASDAQ:ALMS) has been given an average recommendation of “Moderate Buy” by the seven analysts that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $20.40.

Several research analysts have recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Alumis in a research report on Monday, December 15th. Wall Street Zen upgraded shares of Alumis from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. Finally, HC Wainwright boosted their target price on shares of Alumis from $14.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday.

Insider Buying and Selling

In other Alumis news, major shareholder Foresite Capital Management Vi acquired 190,500 shares of Alumis stock in a transaction that occurred on Wednesday, November 19th. The stock was purchased at an average cost of $6.56 per share, with a total value of $1,249,680.00. Following the purchase, the insider owned 2,542,003 shares in the company, valued at approximately $16,675,539.68. The trade was a 8.10% 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, Director James B. Tananbaum bought 190,500 shares of the stock in a transaction on Wednesday, November 19th. The shares were acquired at an average cost of $6.56 per share, for a total transaction of $1,249,680.00. Following the purchase, the director owned 2,542,003 shares in the company, valued at approximately $16,675,539.68. This represents a 8.10% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders acquired 2,788,875 shares of company stock valued at $18,352,357. Corporate insiders own 40.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALMS. Orbimed Advisors LLC purchased a new stake in Alumis in the 2nd quarter worth approximately $5,779,000. Velan Capital Investment Management LP acquired a new position in shares of Alumis in the second quarter worth $4,863,000. Woodline Partners LP increased its stake in shares of Alumis by 809.7% in the third quarter. Woodline Partners LP now owns 1,751,150 shares of the company’s stock worth $6,987,000 after acquiring an additional 1,558,660 shares during the last quarter. Samsara Biocapital LLC raised its holdings in shares of Alumis by 47.0% during the second quarter. Samsara Biocapital LLC now owns 4,801,370 shares of the company’s stock worth $14,404,000 after acquiring an additional 1,534,872 shares in the last quarter. Finally, Tybourne Capital Management HK Ltd. acquired a new stake in Alumis during the second quarter valued at $4,198,000.

Alumis Stock Up 2.1%

Shares of Alumis stock opened at $11.29 on Tuesday. Alumis has a 12-month low of $2.76 and a 12-month high of $12.44. The firm has a market capitalization of $1.18 billion, a PE ratio of -2.79 and a beta of -1.87. The stock’s fifty day moving average is $6.90 and its 200-day moving average is $4.97.

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

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.