Alumis (NASDAQ:ALMS) Posts Earnings Results, Beats Estimates By $0.02 EPS

Alumis (NASDAQ:ALMS) released its earnings results on Thursday. The company reported ($0.73) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.75) by $0.02, FiscalAI reports. The company had revenue of $1.91 million during the quarter, compared to analyst estimates of $1.90 million. Alumis had a negative net margin of 5,933.46% and a negative return on equity of 93.15%.

Alumis Stock Down 7.4%

Shares of Alumis stock traded down $0.49 during midday trading on Thursday, hitting $6.13. The company had a trading volume of 1,862,850 shares, compared to its average volume of 2,224,769. The stock has a market cap of $793.44 million, a price-to-earnings ratio of -1.59 and a beta of -0.28. The company has a fifty day simple moving average of $7.44 and a 200 day simple moving average of $20.66. Alumis has a 12-month low of $4.60 and a 12-month high of $31.35.

Insider Activity

In other news, Director Srinivas Akkaraju purchased 546,581 shares of the stock in a transaction on Tuesday, September 8th. The stock was bought at an average price of $10.63 per share, with a total value of $5,810,156.03. Following the transaction, the director owned 4,937,026 shares in the company, valued at $52,480,586.38. The trade was a 12.45% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders sold 99,754 shares of company stock valued at $1,037,804. 33.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Alumis in a report on Wednesday, September 16th. Citigroup reaffirmed an “overweight” rating on shares of Alumis in a research note on Tuesday, September 1st. Oppenheimer lowered their price target on shares of Alumis from $55.00 to $37.00 and set an “outperform” rating for the company in a report on Wednesday, September 2nd. Robert W. Baird set a $27.00 target price on shares of Alumis in a research note on Tuesday, September 1st. Finally, Wall Street Zen cut Alumis from a “hold” rating to a “sell” rating in a report on Saturday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $33.27.

About Alumis

Alumis is a clinical-stage biopharmaceutical company developing medicines for autoimmune and inflammatory diseases. The company uses data and computational tools to support the discovery and development of targeted treatments. Its lead investigational program, ESK-001, is an oral, selective TYK2 inhibitor being studied for conditions including plaque psoriasis and systemic lupus erythematosus. Alumis is also advancing other drug candidates for immune-mediated diseases. These medicines remain in clinical development and are not approved for commercial use.