Alumis (NASDAQ:ALMS) Releases Quarterly Earnings Results, Misses Expectations By $0.38 EPS

Alumis (NASDAQ:ALMS) announced its quarterly earnings data on Thursday. The company reported ($1.11) EPS for the quarter, missing the consensus estimate of ($0.73) by ($0.38), FiscalAI reports. The company had revenue of $1.66 million for the quarter, compared to analyst estimates of $3.47 million. Alumis had a negative return on equity of 88.79% and a negative net margin of 2,825.70%.

Alumis Trading Down 4.5%

NASDAQ ALMS traded down $1.14 during mid-day trading on Thursday, hitting $24.41. The company’s stock had a trading volume of 831,496 shares, compared to its average volume of 1,991,038. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of -12.33 and a beta of -0.69. The company’s 50 day simple moving average is $25.98 and its 200 day simple moving average is $25.27. Alumis has a twelve month low of $3.76 and a twelve month high of $31.35.

Analyst Ratings Changes

ALMS has been the topic of a number of research reports. Guggenheim boosted their target price on shares of Alumis from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Wall Street Zen downgraded shares of Alumis from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Chardan Capital upped their price objective on shares of Alumis from $38.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, May 19th. Citigroup reissued a “buy” rating on shares of Alumis in a research report on Tuesday, May 19th. Finally, Wells Fargo & Company raised their target price on Alumis from $49.00 to $51.00 and gave the company an “overweight” rating in a research note on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Alumis currently has a consensus rating of “Moderate Buy” and an average price target of $40.30.

Insider Activity

In other news, insider David M. Goldstein sold 2,596 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $26.37, for a total transaction of $68,456.52. Following the completion of the sale, the insider directly owned 30,970 shares of the company’s stock, valued at $816,678.90. The trade was a 7.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO John R. Schroer sold 3,282 shares of the company’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $26.37, for a total transaction of $86,546.34. Following the completion of the sale, the chief financial officer owned 24,718 shares in the company, valued at $651,813.66. This represents a 11.72% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 19,953 shares of company stock valued at $534,311. 33.70% of the stock is currently owned by insiders.

Institutional Trading of Alumis

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