Investors Buy Large Volume of Put Options on Alumis (NASDAQ:ALMS)

Alumis Inc. (NASDAQ:ALMS) was the target of some unusual options trading on Tuesday. Stock investors acquired 4,619 put options on the company. This is an increase of 409% compared to the average volume of 907 put options.

Alumis Stock Performance

Shares of ALMS stock traded down $12.60 during trading hours on Tuesday, hitting $9.21. 17,836,342 shares of the company were exchanged, compared to its average volume of 2,000,476. Alumis has a fifty-two week low of $3.76 and a fifty-two week high of $31.35. The firm has a market cap of $1.19 billion, a P/E ratio of -2.40 and a beta of -0.69. The company has a 50 day simple moving average of $26.50 and a two-hundred day simple moving average of $25.05.

Alumis (NASDAQ:ALMS) last released its quarterly earnings data on Thursday, August 13th. The company reported ($1.11) earnings per share for the quarter, missing the consensus estimate of ($0.77) by ($0.34). The business had revenue of $1.66 million for the quarter, compared to analyst estimates of $3.65 million. Alumis had a negative return on equity of 93.15% and a negative net margin of 5,933.46%. As a group, sell-side analysts expect that Alumis will post -2.95 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ALMS shares. Chardan Capital raised their price objective on shares of Alumis from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, May 19th. Guggenheim lifted their target price on Alumis from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Citigroup reissued a “neutral” rating on shares of Alumis in a report on Monday, August 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alumis in a research note on Tuesday, July 7th. Finally, HC Wainwright reaffirmed a “neutral” rating and issued a $25.00 target price on shares of Alumis in a report on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Alumis has an average rating of “Moderate Buy” and a consensus price target of $40.30.

Insider Transactions at Alumis

In related news, insider Sanam Pangali sold 1,364 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $26.37, for a total value of $35,968.68. Following the completion of the transaction, the insider owned 9,747 shares in the company, valued at $257,028.39. The trade was a 12.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider David M. Goldstein sold 2,596 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $26.37, for a total value of $68,456.52. Following the transaction, the insider directly owned 30,970 shares in the company, valued at $816,678.90. The trade was a 7.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 19,953 shares of company stock worth $534,311. 33.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alumis

Several hedge funds and other institutional investors have recently modified their holdings of ALMS. California State Teachers Retirement System increased its position in shares of Alumis by 2,222.5% in the first quarter. California State Teachers Retirement System now owns 80,845 shares of the company’s stock worth $1,781,000 after purchasing an additional 77,364 shares during the last quarter. First Trust Advisors LP bought a new stake in shares of Alumis in the 1st quarter valued at about $1,456,000. The Manufacturers Life Insurance Company boosted its stake in shares of Alumis by 775.6% during the first quarter. The Manufacturers Life Insurance Company now owns 154,634 shares of the company’s stock valued at $3,407,000 after purchasing an additional 136,973 shares during the period. Swiss National Bank purchased a new stake in Alumis during the 1st quarter valued at $2,815,000. Finally, Elmind Capital LP bought a new stake in shares of Alumis in the first quarter worth about $2,864,000.

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.