Chardan Capital Reiterates “Buy” Rating for Alumis (NASDAQ:ALMS)

Alumis (NASDAQ:ALMS)‘s stock had its “buy” rating reaffirmed by stock analysts at Chardan Capital in a research note issued on Monday,Benzinga reports. They currently have a $38.00 target price on the stock. Chardan Capital’s price target points to a potential upside of 53.23% from the company’s previous close.

A number of other research firms have also recently issued reports on ALMS. UBS Group reiterated an “outperform” rating on shares of Alumis in a research report on Tuesday, January 6th. HC Wainwright dropped their target price on shares of Alumis from $40.00 to $25.00 and set a “buy” rating for the company in a report on Monday. Citigroup restated an “outperform” rating on shares of Alumis in a research note on Tuesday, January 6th. Oppenheimer reaffirmed an “outperform” rating and set a $50.00 price target on shares of Alumis in a report on Tuesday, January 6th. Finally, Wall Street Zen raised shares of Alumis from a “sell” rating to a “hold” rating in a research note on Saturday, December 6th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $38.10.

Alumis Stock Performance

Shares of NASDAQ ALMS opened at $24.80 on Monday. The firm has a market cap of $2.59 billion, a P/E ratio of -8.10 and a beta of -2.15. The business’s 50 day moving average is $26.57 and its 200-day moving average is $14.56. Alumis has a 1-year low of $2.76 and a 1-year high of $30.60.

Alumis (NASDAQ:ALMS) last released its quarterly earnings results on Thursday, March 19th. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.90) by ($0.05). Alumis had a negative net margin of 1,011.75% and a negative return on equity of 116.97%. The business had revenue of $1.93 million during the quarter, compared to analyst estimates of $2.75 million. Analysts forecast that Alumis will post -8.51 EPS for the current year.

Insider Activity at Alumis

In other news, Director James B. Tananbaum acquired 411,764 shares of the firm’s stock in a transaction dated 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 completion of the acquisition, the director directly owned 5,702,536 shares in the company, valued at $96,943,112. The trade was a 7.78% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Foresite Capital Management Vi bought 411,764 shares of the stock in a transaction dated Thursday, January 8th. The shares were purchased at an average cost of $17.00 per share, for a total transaction of $6,999,988.00. Following the completion of the transaction, the insider directly owned 5,702,536 shares of the company’s stock, valued at $96,943,112. This trade represents a 7.78% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 1,823,527 shares of company stock worth $30,999,959 over the last quarter. Company insiders own 40.70% of the company’s stock.

Institutional Investors Weigh In On Alumis

Institutional investors and hedge funds have recently bought and sold shares of the stock. Samsara Biocapital LLC raised its stake in shares of Alumis by 19.9% during the 4th quarter. Samsara Biocapital LLC now owns 5,756,984 shares of the company’s stock worth $56,188,000 after purchasing an additional 955,614 shares during the period. Vanguard Group Inc. grew its position in Alumis by 18.4% during the third quarter. Vanguard Group Inc. now owns 4,029,615 shares of the company’s stock valued at $16,078,000 after buying an additional 625,404 shares during the period. Cormorant Asset Management LP grew its position in Alumis by 69.3% during the fourth quarter. Cormorant Asset Management LP now owns 3,635,596 shares of the company’s stock valued at $35,483,000 after buying an additional 1,488,200 shares during the period. Trium Capital LLP increased its holdings in Alumis by 17.9% during the third quarter. Trium Capital LLP now owns 3,122,111 shares of the company’s stock worth $12,457,000 after buying an additional 474,072 shares during the last quarter. Finally, MPM Bioimpact LLC bought a new stake in Alumis in the fourth quarter worth about $23,443,000.

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.