Brokerages Set Alumis Inc. (NASDAQ:ALMS) Target Price at $40.30

Shares of Alumis Inc. (NASDAQ:ALMS) have been assigned an average rating of “Moderate Buy” from the twelve research firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $40.30.

ALMS has been the subject of a number of research reports. Wall Street Zen lowered Alumis from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Chardan Capital lifted their price objective on Alumis from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, May 19th. Guggenheim upped their price objective on Alumis from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Citigroup reiterated a “buy” rating on shares of Alumis in a research report on Tuesday, May 19th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $39.00 target price on shares of Alumis in a report on Friday, May 15th.

Insider Buying and Selling

In other Alumis news, insider Sanam Pangali sold 5,000 shares of Alumis stock in a transaction on Monday, July 6th. The shares were sold at an average price of $28.00, for a total value of $140,000.00. Following the completion of the transaction, the insider directly owned 11,111 shares of the company’s stock, valued at $311,108. This trade represents a 31.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 33.70% of the stock is owned by company insiders.

Institutional Trading of Alumis

Several hedge funds have recently made changes to their positions in ALMS. Samsara Biocapital LLC grew its position in Alumis by 19.9% in the fourth quarter. Samsara Biocapital LLC now owns 5,756,984 shares of the company’s stock worth $56,188,000 after acquiring an additional 955,614 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Alumis by 18.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,029,615 shares of the company’s stock valued at $16,078,000 after purchasing an additional 625,404 shares during the last quarter. Cormorant Asset Management LP lifted its stake in shares of Alumis by 69.3% in the 4th quarter. Cormorant Asset Management LP now owns 3,635,596 shares of the company’s stock valued at $35,483,000 after purchasing an additional 1,488,200 shares during the last quarter. Octagon Capital Advisors LP boosted its holdings in shares of Alumis by 11.9% in the 1st quarter. Octagon Capital Advisors LP now owns 2,830,700 shares of the company’s stock worth $62,360,000 after purchasing an additional 300,000 shares during the period. Finally, MPM Bioimpact LLC purchased a new position in shares of Alumis in the 4th quarter worth approximately $23,443,000.

Alumis Price Performance

ALMS stock opened at $29.74 on Friday. Alumis has a 1-year low of $3.24 and a 1-year high of $31.35. The business has a 50 day simple moving average of $23.47 and a two-hundred day simple moving average of $23.31. The company has a market capitalization of $3.79 billion, a price-to-earnings ratio of -15.02 and a beta of -0.73.

Alumis (NASDAQ:ALMS) last issued its earnings results on Thursday, May 14th. The company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.01). The company had revenue of $1.74 million for the quarter, compared to the consensus estimate of $2.10 million. Alumis had a negative return on equity of 88.79% and a negative net margin of 2,825.70%. Sell-side analysts anticipate that Alumis will post -2.87 EPS for the current fiscal 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.