Alumis (NASDAQ:ALMS) Issues Quarterly Earnings Results

Alumis (NASDAQ:ALMS) posted its earnings results on Thursday. The company reported ($0.95) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.05), Zacks reports. The company had revenue of $1.93 million for the quarter, compared to analysts’ expectations of $2.75 million.

Alumis Trading Down 0.2%

Shares of ALMS opened at $25.38 on Friday. The company’s fifty day simple moving average is $26.32 and its 200-day simple moving average is $13.58. The company has a market cap of $2.65 billion, a P/E ratio of -6.27 and a beta of -2.15. Alumis has a twelve month low of $2.76 and a twelve month high of $30.60.

Insider Activity

In other Alumis news, major shareholder Foresite Capital Management Vi bought 411,764 shares of the company’s stock in a transaction on Thursday, January 8th. The stock was acquired at an average price of $17.00 per share, for a total transaction of $6,999,988.00. Following the completion of the transaction, the insider directly owned 5,702,536 shares of the company’s stock, valued at approximately $96,943,112. This represents a 7.78% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Srinivas Akkaraju bought 588,235 shares of the business’s stock in a transaction dated Friday, January 9th. The shares were acquired at an average cost of $17.00 per share, for a total transaction of $9,999,995.00. Following the purchase, the director owned 1,853,488 shares of the company’s stock, valued at approximately $31,509,296. The trade was a 46.49% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have purchased 1,823,527 shares of company stock valued at $30,999,959. 40.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alumis

A number of large investors have recently bought and sold shares of ALMS. Samsara Biocapital LLC increased its stake in Alumis by 19.9% in the fourth quarter. Samsara Biocapital LLC now owns 5,756,984 shares of the company’s stock worth $56,188,000 after purchasing an additional 955,614 shares during the period. Vanguard Group Inc. boosted its stake in shares of Alumis by 18.4% during the third quarter. Vanguard Group Inc. now owns 4,029,615 shares of the company’s stock valued at $16,078,000 after purchasing an additional 625,404 shares during the period. MPM Bioimpact LLC bought a new position in shares of Alumis in the fourth quarter worth about $23,443,000. Orbimed Advisors LLC bought a new position in shares of Alumis in the second quarter worth about $5,779,000. Finally, Woodline Partners LP increased its stake in Alumis by 809.7% in the 3rd quarter. Woodline Partners LP now owns 1,751,150 shares of the company’s stock worth $6,987,000 after buying an additional 1,558,660 shares during the period.

Analysts Set New Price Targets

Several equities analysts have commented on ALMS shares. Citigroup reiterated an “outperform” rating on shares of Alumis in a research report on Tuesday, January 6th. HC Wainwright restated a “buy” rating and set a $40.00 target price (up from $20.00) on shares of Alumis in a research report on Friday, January 9th. Leerink Partners increased their price target on shares of Alumis from $20.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday, January 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alumis in a research report on Monday, December 29th. Finally, Stifel Nicolaus initiated coverage on Alumis in a research note on Wednesday, February 25th. They set a “buy” rating and a $44.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $39.00.

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.