Alumis (NASDAQ:ALMS) Stock Price Down 4.1% – Here’s What Happened

Alumis Inc. (NASDAQ:ALMS)’s share price traded down 4.1% during trading on Monday . The company traded as low as $22.25 and last traded at $22.4150. 101,673 shares changed hands during mid-day trading, a decline of 97% from the average session volume of 3,025,076 shares. The stock had previously closed at $23.37.

Analyst Ratings Changes

A number of research firms have recently issued reports on ALMS. Leerink Partners raised their price target on shares of Alumis from $20.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 6th. Guggenheim increased their price objective on shares of Alumis from $18.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Loop Capital set a $37.00 target price on Alumis in a research note on Wednesday, January 21st. Chardan Capital reiterated a “buy” rating and set a $38.00 price target on shares of Alumis in a research report on Monday, March 30th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Alumis in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Alumis has a consensus rating of “Moderate Buy” and an average price target of $38.60.

Alumis Price Performance

The company has a fifty day moving average price of $26.25 and a two-hundred day moving average price of $15.19. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of -7.21 and a beta of -0.64.

Alumis (NASDAQ:ALMS) last posted its quarterly earnings results on Thursday, March 19th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.05). The company had revenue of $1.93 million during the quarter, compared to analysts’ expectations of $2.75 million. Alumis had a negative return on equity of 116.97% and a negative net margin of 1,011.75%. On average, research analysts expect that Alumis Inc. will post -8.51 earnings per share for the current fiscal year.

Insider Activity at Alumis

In other news, Director Srinivas Akkaraju acquired 588,235 shares of the business’s stock in a transaction that occurred on Friday, January 9th. The stock was acquired at an average cost of $17.00 per share, for a total transaction of $9,999,995.00. Following the completion of the acquisition, the director owned 1,853,488 shares in the company, valued at approximately $31,509,296. The trade was a 46.49% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Foresite Labs, Llc acquired 411,764 shares of Alumis stock in a transaction that occurred 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 transaction, the insider owned 5,702,536 shares of the company’s stock, valued at approximately $96,943,112. The trade was a 7.78% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders acquired 1,823,527 shares of company stock valued at $30,999,959. 40.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Alumis

A number of hedge funds have recently added to or reduced their stakes in ALMS. Virtu Financial LLC bought a new position in Alumis during the fourth quarter valued at approximately $491,000. Invesco Ltd. grew its position in Alumis by 225.6% in the fourth quarter. Invesco Ltd. now owns 421,819 shares of the company’s stock worth $4,117,000 after acquiring an additional 292,250 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in shares of Alumis during the 4th quarter worth $146,000. Virtus Investment Advisers LLC bought a new position in shares of Alumis during the 4th quarter valued at $226,000. Finally, Wellington Management Group LLP raised its holdings in shares of Alumis by 2.2% during the 4th quarter. Wellington Management Group LLP now owns 169,093 shares of the company’s stock valued at $1,650,000 after purchasing an additional 3,590 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.