Alumis (NASDAQ:ALMS) Trading Down 11.5% on Analyst Downgrade

Alumis Inc. (NASDAQ:ALMS)’s share price traded down 11.5% during mid-day trading on Monday after HC Wainwright lowered their price target on the stock from $40.00 to $25.00. HC Wainwright currently has a buy rating on the stock. Alumis traded as low as $22.13 and last traded at $21.9510. 1,630,604 shares traded hands during mid-day trading, a decline of 47% from the average session volume of 3,057,718 shares. The stock had previously closed at $24.80.

Several other brokerages also recently issued reports on ALMS. Stifel Nicolaus began coverage on shares of Alumis in a research note on Wednesday, February 25th. They set a “buy” rating and a $44.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alumis in a report on Monday, December 29th. Oppenheimer reissued an “outperform” rating and set a $50.00 price target on shares of Alumis in a research report on Tuesday, January 6th. Citigroup reissued an “outperform” rating on shares of Alumis in a research note on Tuesday, January 6th. Finally, UBS Group restated an “outperform” rating on shares of Alumis in a research report on Tuesday, January 6th. One 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $38.60.

Insider Transactions at Alumis

In other news, Director James B. Tananbaum bought 411,764 shares of the company’s stock in a transaction on Thursday, January 8th. The shares were bought at an average cost of $17.00 per share, with a total value of $6,999,988.00. Following the transaction, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Foresite Capital Management Vi purchased 411,764 shares of the business’s stock in a transaction dated Thursday, January 8th. The shares were purchased at an average cost of $17.00 per share, with a total value of $6,999,988.00. Following the completion of the purchase, the insider directly owned 5,702,536 shares in the company, valued at approximately $96,943,112. This represents a 7.78% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have bought 1,823,527 shares of company stock worth $30,999,959. 40.70% of the stock is owned by company insiders.

Institutional Trading of Alumis

A number of institutional investors have recently added to or reduced their stakes in ALMS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Alumis by 64.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,535 shares of the company’s stock worth $77,000 after acquiring an additional 4,926 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Alumis by 24.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 61,645 shares of the company’s stock valued at $378,000 after purchasing an additional 11,949 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Alumis in the 1st quarter valued at $111,000. Rhumbline Advisers boosted its holdings in Alumis by 21.7% in the first quarter. Rhumbline Advisers now owns 16,543 shares of the company’s stock worth $102,000 after purchasing an additional 2,949 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Alumis by 163.2% in the second quarter. Geode Capital Management LLC now owns 1,167,832 shares of the company’s stock worth $3,504,000 after purchasing an additional 724,133 shares in the last quarter.

Alumis Stock Down 14.7%

The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of -6.94 and a beta of -2.15. The company’s 50-day simple moving average is $26.57 and its 200 day simple moving average is $14.56.

Alumis (NASDAQ:ALMS) last announced its quarterly earnings results on Thursday, March 19th. The company reported ($0.95) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.05). The company had revenue of $1.93 million during the quarter, compared to analyst estimates of $2.75 million. Alumis had a negative return on equity of 116.97% and a negative net margin of 1,011.75%. On average, equities analysts expect that Alumis Inc. will post -8.51 earnings per share for the current fiscal year.

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.