Alumis (NASDAQ:ALMS) Shares Up 7.2% – Time to Buy?

Alumis Inc. (NASDAQ:ALMS) shares rose 7.2% during mid-day trading on Thursday . The company traded as high as $26.97 and last traded at $27.4850. Approximately 773,146 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 4,782,586 shares. The stock had previously closed at $25.63.

Wall Street Analyst Weigh In

ALMS has been the subject of several analyst reports. Leerink Partners raised their target price on shares of Alumis from $20.00 to $32.00 and gave the stock an “outperform” rating in a report on Tuesday, January 6th. Guggenheim upped their target price on Alumis from $18.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th. Oppenheimer restated an “outperform” rating and set a $50.00 price objective on shares of Alumis in a report on Tuesday, January 6th. UBS Group reiterated an “outperform” rating on shares of Alumis in a research report on Tuesday, January 6th. Finally, Citigroup restated an “outperform” rating on shares of Alumis in a research note on Tuesday, January 6th. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $37.50.

Alumis Stock Up 4.6%

The business has a 50 day simple moving average of $18.07 and a 200 day simple moving average of $9.48. The company has a market capitalization of $2.80 billion, a PE ratio of -6.62 and a beta of -2.06.

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

Insiders Place Their Bets

In related news, major shareholder Foresite Capital Management Vi purchased 411,764 shares of Alumis stock in a transaction that occurred on Thursday, January 8th. The stock was purchased at an average price of $17.00 per share, for a total transaction of $6,999,988.00. Following the transaction, the insider directly owned 5,702,536 shares in the company, valued at approximately $96,943,112. This trade represents a 7.78% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Srinivas Akkaraju acquired 588,235 shares of the business’s stock in a transaction on Friday, January 9th. The shares were purchased at an average price of $17.00 per share, with a total value of $9,999,995.00. Following the completion of the purchase, the director owned 1,853,488 shares in the company, valued at $31,509,296. This represents a 46.49% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought 4,336,223 shares of company stock valued at $47,902,376 over the last quarter. Insiders own 40.70% of the company’s stock.

Institutional Trading of Alumis

A number of hedge funds have recently bought and sold shares of ALMS. Samsara Biocapital LLC increased its position in 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 purchasing an additional 1,534,872 shares during the last quarter. Foresite Capital Management VI LLC increased its stake in Alumis by 1.1% during the 2nd quarter. Foresite Capital Management VI LLC now owns 4,247,670 shares of the company’s stock worth $12,743,000 after buying an additional 45,000 shares during the period. Vanguard Group Inc. raised its stake in shares of Alumis by 18.4% in the third quarter. Vanguard Group Inc. now owns 4,029,615 shares of the company’s stock valued at $16,078,000 after acquiring an additional 625,404 shares in the last quarter. Trium Capital LLP boosted its stake in shares of Alumis by 17.9% in the 3rd quarter. Trium Capital LLP now owns 3,122,111 shares of the company’s stock valued at $12,457,000 after buying an additional 474,072 shares during the period. Finally, Orbimed Advisors LLC purchased a new stake in shares of Alumis in the 2nd quarter valued at approximately $5,779,000.

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.