Alumis (NASDAQ:ALMS) Stock Price Expected to Rise, Oppenheimer Analyst Says

Alumis (NASDAQ:ALMS) had its price objective upped by Oppenheimer from $50.00 to $55.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s price objective would suggest a potential upside of 133.51% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Alumis in a research note on Monday, December 29th. Wall Street Zen upgraded shares of Alumis from a “sell” rating to a “hold” rating in a research note on Saturday, December 6th. Stifel Nicolaus began coverage on shares of Alumis in a research report on Wednesday, February 25th. They issued a “buy” rating and a $44.00 price objective for the company. Citigroup reaffirmed an “outperform” rating on shares of Alumis in a report on Tuesday, January 6th. Finally, Raymond James Financial began coverage on shares of Alumis in a research note on Tuesday, March 10th. They issued a “strong-buy” rating and a $46.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $38.60.

Alumis Stock Down 5.0%

Shares of NASDAQ:ALMS traded down $1.25 during midday trading on Monday, reaching $23.55. The company had a trading volume of 810,470 shares, compared to its average volume of 3,039,849. Alumis has a 1-year low of $2.76 and a 1-year high of $30.60. The stock has a market cap of $2.46 billion, a PE ratio of -7.59 and a beta of -2.15. The business’s 50 day moving average price is $26.57 and its 200 day moving average price is $14.56.

Alumis (NASDAQ:ALMS) last issued 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). The company had revenue of $1.93 million for the quarter, compared to analyst estimates of $2.75 million. Alumis had a negative net margin of 1,011.75% and a negative return on equity of 116.97%. On average, research analysts expect that Alumis will post -8.51 earnings per share for the current fiscal year.

Insider Activity at Alumis

In other news, major shareholder Foresite Capital Management Vi acquired 411,764 shares of the firm’s stock in a transaction on Thursday, January 8th. The shares were purchased at an average cost of $17.00 per share, with a total value of $6,999,988.00. Following the acquisition, the insider directly owned 5,702,536 shares in the company, valued at $96,943,112. This represents a 7.78% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Foresite Labs, Llc purchased 411,764 shares of the stock in a transaction that occurred on Thursday, January 8th. The shares were acquired 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 owned 5,702,536 shares of the company’s stock, valued at $96,943,112. This trade represents a 7.78% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders acquired 1,823,527 shares of company stock worth $30,999,959. 40.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alumis

Institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. increased its position in shares of Alumis by 320.9% in the third quarter. Russell Investments Group Ltd. now owns 6,419 shares of the company’s stock worth $26,000 after purchasing an additional 4,894 shares during the period. Police & Firemen s Retirement System of New Jersey increased its position in shares of Alumis by 199.7% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 10,753 shares of the company’s stock worth $32,000 after buying an additional 7,165 shares during the period. New York State Common Retirement Fund boosted its position in Alumis by 173.7% during the second quarter. New York State Common Retirement Fund now owns 11,767 shares of the company’s stock valued at $35,000 after acquiring an additional 7,467 shares during the last quarter. CWM LLC grew its position in shares of Alumis by 1,028.7% during the 3rd quarter. CWM LLC now owns 10,384 shares of the company’s stock worth $41,000 after buying an additional 9,464 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Alumis by 26.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,724 shares of the company’s stock valued at $46,000 after purchasing an additional 979 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.