Insider Selling: Alumis (NASDAQ:ALMS) Insider Sells $67,823.64 in Stock

Alumis Inc. (NASDAQ:ALMS) insider Mark Christopher Bradley sold 2,572 shares of Alumis stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $26.37, for a total transaction of $67,823.64. Following the completion of the transaction, the insider directly owned 48,533 shares in the company, valued at $1,279,815.21. This trade represents a 5.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Alumis Price Performance

Shares of ALMS opened at $27.60 on Friday. The firm has a 50 day simple moving average of $25.62 and a two-hundred day simple moving average of $25.26. Alumis Inc. has a one year low of $3.76 and a one year high of $31.35. The company has a market cap of $3.52 billion, a P/E ratio of -13.94 and a beta of -0.69.

Alumis (NASDAQ:ALMS) last issued its earnings results on Thursday, May 14th. The company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $1.74 million during the quarter, compared to analyst estimates of $2.10 million. On average, analysts expect that Alumis Inc. will post -2.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alumis

Several hedge funds have recently added to or reduced their stakes in ALMS. BlackRock Inc. bought a new stake in Alumis during the 2nd quarter worth approximately $231,259,000. MPM Bioimpact LLC bought a new position in shares of Alumis during the fourth quarter valued at $23,443,000. Janus Henderson Group PLC bought a new position in shares of Alumis during the first quarter valued at $46,790,000. Orbimed Advisors LLC acquired a new position in shares of Alumis during the second quarter worth $5,779,000. Finally, Woodline Partners LP lifted its holdings in shares of Alumis by 809.7% during the third quarter. Woodline Partners LP now owns 1,751,150 shares of the company’s stock worth $6,987,000 after purchasing an additional 1,558,660 shares during the period.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Chardan Capital raised their price target on shares of Alumis from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, May 19th. Morgan Stanley restated an “overweight” rating and issued a $39.00 target price on shares of Alumis in a research report on Friday, May 15th. HC Wainwright reiterated a “neutral” rating and issued a $25.00 price target on shares of Alumis in a research note on Monday, August 3rd. Wall Street Zen downgraded Alumis from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Alumis in a research report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $40.30.

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.