Alumis (NASDAQ:ALMS) Reaches New 1-Year High – Time to Buy?

Shares of Alumis Inc. (NASDAQ:ALMS) hit a new 52-week high during trading on Wednesday . The company traded as high as $31.35 and last traded at $29.7610, with a volume of 575628 shares traded. The stock had previously closed at $29.27.

Analyst Ratings Changes

A number of analysts have recently issued reports on ALMS shares. Morgan Stanley restated an “overweight” rating and set a $39.00 price objective on shares of Alumis in a research report on Friday, May 15th. HC Wainwright downgraded shares of Alumis from a “buy” rating to a “neutral” rating and set a $25.00 price target on the stock. in a research note on Friday, May 15th. Guggenheim boosted their price target on shares of Alumis from $32.00 to $34.00 and gave the company a “buy” rating in a report on Friday, May 15th. Wells Fargo & Company increased their price objective on shares of Alumis from $49.00 to $51.00 and gave the company an “overweight” rating in a research note on Friday, May 15th. Finally, Wall Street Zen downgraded shares of Alumis from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $40.30.

Alumis Price Performance

The firm has a 50 day simple moving average of $23.60 and a 200-day simple moving average of $23.44. The stock has a market capitalization of $3.86 billion, a price-to-earnings ratio of -15.30 and a beta of -0.73.

Alumis (NASDAQ:ALMS) last issued its earnings results on Thursday, May 14th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.73) by ($0.01). Alumis had a negative net margin of 2,825.70% and a negative return on equity of 88.79%. The firm had revenue of $1.74 million during the quarter, compared to analyst estimates of $2.10 million. On average, sell-side analysts forecast that Alumis Inc. will post -2.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Alumis

In other news, insider Sanam Pangali sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $28.00, for a total transaction of $140,000.00. Following the completion of the sale, the insider owned 11,111 shares of the company’s stock, valued at approximately $311,108. This trade represents a 31.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 33.70% of the company’s stock.

Institutional Investors Weigh In On Alumis

Hedge funds and other institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Alumis by 64.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,535 shares of the company’s stock valued at $77,000 after purchasing an additional 4,926 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Alumis by 24.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 61,645 shares of the company’s stock worth $378,000 after buying an additional 11,949 shares in the last quarter. Jane Street Group LLC acquired a new position in Alumis during the 1st quarter worth about $111,000. Rhumbline Advisers raised its stake in shares of Alumis by 21.7% in the first quarter. Rhumbline Advisers now owns 16,543 shares of the company’s stock worth $102,000 after acquiring an additional 2,949 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Alumis by 163.2% during the second quarter. Geode Capital Management LLC now owns 1,167,832 shares of the company’s stock worth $3,504,000 after purchasing an additional 724,133 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.