Alumis (NASDAQ:ALMS) Shares Down 5.8% – Here’s What Happened

Shares of Alumis Inc. (NASDAQ:ALMS) traded down 5.8% on Monday . The company traded as low as $23.90 and last traded at $23.6190. 331,291 shares were traded during mid-day trading, a decline of 90% from the average session volume of 3,179,234 shares. The stock had previously closed at $25.06.

Wall Street Analysts Forecast Growth

ALMS has been the topic of several recent research reports. Chardan Capital boosted their price objective on shares of Alumis from $37.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday. Leerink Partners raised their target price on shares of Alumis from $20.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday, January 6th. Morgan Stanley upped their price target on shares of Alumis from $33.00 to $38.00 and gave the company an “overweight” rating in a report on Friday. Wall Street Zen upgraded shares of Alumis from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. Finally, HC Wainwright reissued a “buy” rating and set a $40.00 price objective (up from $20.00) on shares of Alumis in a research note on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Alumis has a consensus rating of “Moderate Buy” and an average target price of $39.60.

Alumis Stock Down 5.0%

The firm has a market cap of $2.48 billion, a price-to-earnings ratio of -7.79 and a beta of -2.16. The business has a 50 day moving average of $26.43 and a 200 day moving average of $13.85.

Alumis (NASDAQ:ALMS) last announced its earnings results on Thursday, March 19th. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.90) by ($0.05). The firm had revenue of $1.93 million during the quarter, compared to analyst estimates of $2.75 million. Alumis had a negative net margin of 1,011.75% and a negative return on equity of 116.97%. Research analysts predict that Alumis Inc. will post -8.51 earnings per share for the current year.

Insider Activity

In other news, major shareholder Foresite Capital Management Vi acquired 411,764 shares of the business’s stock in a transaction dated Thursday, January 8th. The stock was acquired at an average price of $17.00 per share, with a total value of $6,999,988.00. Following the completion of the transaction, the insider directly owned 5,702,536 shares in the company, valued at approximately $96,943,112. This represents a 7.78% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Srinivas Akkaraju acquired 588,235 shares of Alumis stock in a transaction that occurred on Friday, January 9th. The shares were purchased at an average cost of $17.00 per share, for a total transaction of $9,999,995.00. Following the purchase, the director directly owned 1,853,488 shares of the company’s stock, valued at approximately $31,509,296. This trade represents a 46.49% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have acquired 1,823,527 shares of company stock valued at $30,999,959. 40.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Ieq Capital LLC increased its holdings in shares of Alumis by 4.1% during the 4th quarter. Ieq Capital LLC now owns 17,421 shares of the company’s stock worth $170,000 after buying an additional 690 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Alumis by 26.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,724 shares of the company’s stock valued at $46,000 after acquiring an additional 979 shares during the last quarter. ProShare Advisors LLC grew its position in Alumis by 12.4% during the fourth quarter. ProShare Advisors LLC now owns 14,627 shares of the company’s stock valued at $143,000 after acquiring an additional 1,618 shares during the period. Stoneridge Investment Partners LLC grew its position in Alumis by 8.1% during the third quarter. Stoneridge Investment Partners LLC now owns 29,535 shares of the company’s stock valued at $118,000 after acquiring an additional 2,210 shares during the period. Finally, Rhumbline Advisers increased its stake in Alumis by 21.7% during 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.

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.