Alumis (NASDAQ:ALMS) Announces Quarterly Earnings Results, Misses Estimates By $0.34 EPS

Alumis (NASDAQ:ALMS) issued its earnings results on Thursday. The company reported ($1.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.77) by ($0.34), FiscalAI reports. The company had revenue of $1.66 million for the quarter, compared to the consensus estimate of $3.65 million. Alumis had a negative return on equity of 95.08% and a negative net margin of 5,933.46%.

Alumis Trading Up 3.7%

Shares of ALMS stock traded up $0.90 during trading on Friday, hitting $25.31. The company’s stock had a trading volume of 1,217,186 shares, compared to its average volume of 902,175. The company has a market cap of $3.23 billion, a PE ratio of -6.56 and a beta of -0.69. The business has a fifty day moving average of $26.19 and a 200-day moving average of $25.27. Alumis has a 52 week low of $3.76 and a 52 week high of $31.35.

Insider Buying and Selling at Alumis

In other Alumis news, insider David M. Goldstein sold 2,596 shares of the business’s stock in a transaction 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 owned 30,970 shares of the company’s stock, valued at approximately $816,678.90. The trade was a 7.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark Christopher Bradley sold 2,572 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $26.37, for a total value of $67,823.64. Following the completion of the transaction, the insider owned 48,533 shares of the company’s stock, valued at $1,279,815.21. This trade represents a 5.03% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 19,953 shares of company stock valued at $534,311 in the last ninety days. 33.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. increased its holdings in Alumis by 320.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,419 shares of the company’s stock worth $26,000 after acquiring an additional 4,894 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in Alumis by 173.7% during the second quarter. New York State Common Retirement Fund now owns 11,767 shares of the company’s stock valued at $35,000 after purchasing an additional 7,467 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Alumis by 104.9% during the third quarter. BNP Paribas Financial Markets now owns 11,770 shares of the company’s stock worth $47,000 after purchasing an additional 6,027 shares during the period. The Manufacturers Life Insurance Company bought a new position in Alumis during the second quarter worth about $56,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Alumis by 64.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,535 shares of the company’s stock worth $77,000 after purchasing an additional 4,926 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts have recently commented on ALMS shares. Citigroup restated a “buy” rating on shares of Alumis in a report on Tuesday, May 19th. HC Wainwright restated a “neutral” rating and set a $25.00 price objective on shares of Alumis in a report on Friday. Wells Fargo & Company raised their price target on shares of Alumis from $49.00 to $51.00 and gave the company an “overweight” rating in a research report on Friday, May 15th. Morgan Stanley reissued an “overweight” rating and issued a $39.00 price objective on shares of Alumis in a research note on Friday, May 15th. Finally, Wall Street Zen cut Alumis from a “sell” rating to a “strong sell” rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.