Alumis (NASDAQ:ALMS) Posts Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Alumis (NASDAQ:ALMS) issued its quarterly earnings results on Thursday. The company reported ($0.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.04), FiscalAI reports. The firm had revenue of $1.93 million during the quarter, compared to the consensus estimate of $2.75 million.

Alumis Stock Down 0.2%

Shares of ALMS traded down $0.04 during trading hours on Thursday, reaching $25.38. The stock had a trading volume of 716,662 shares, compared to its average volume of 3,217,773. Alumis has a 52 week low of $2.76 and a 52 week high of $30.60. The firm has a 50-day moving average of $26.32 and a 200 day moving average of $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.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Chardan Capital started coverage on shares of Alumis in a research report on Wednesday, January 21st. They set a “buy” rating and a $37.00 price objective for the company. Citigroup restated an “outperform” rating on shares of Alumis in a research note on Tuesday, January 6th. Wall Street Zen upgraded Alumis from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alumis in a research note on Monday, December 29th. Finally, Loop Capital set a $37.00 price target on Alumis in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Alumis has an average rating of “Moderate Buy” and a consensus price target of $39.00.

Insiders Place Their Bets

In related news, Director James B. Tananbaum purchased 411,764 shares of the business’s stock in a transaction on Thursday, January 8th. The shares were purchased at an average price of $17.00 per share, with a total value of $6,999,988.00. Following the completion of the purchase, the director owned 5,702,536 shares in the company, valued at $96,943,112. This represents a 7.78% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Srinivas Akkaraju acquired 588,235 shares of the company’s stock in a transaction that occurred on Friday, January 9th. The shares were bought at an average price 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 of the company’s stock, valued at $31,509,296. This trade represents a 46.49% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired a total of 1,823,527 shares of company stock valued at $30,999,959 in the last quarter. 40.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alumis

Several large investors have recently made changes to their positions in ALMS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Alumis by 64.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,535 shares of the company’s stock worth $77,000 after acquiring an additional 4,926 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Alumis by 24.0% in the first quarter. Goldman Sachs Group Inc. now owns 61,645 shares of the company’s stock valued at $378,000 after buying an additional 11,949 shares during the period. Jane Street Group LLC acquired a new stake in shares of Alumis in the first quarter valued at approximately $111,000. Rhumbline Advisers boosted its stake in shares of Alumis by 21.7% during the 1st 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 period. Finally, Geode Capital Management LLC increased its holdings in shares of Alumis by 163.2% during the 2nd quarter. Geode Capital Management LLC now owns 1,167,832 shares of the company’s stock worth $3,504,000 after acquiring an additional 724,133 shares during the last quarter.

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.