Alumis (NASDAQ:ALMS) Stock Price Down 9.5% – What’s Next?

Alumis Inc. (NASDAQ:ALMS) traded down 9.5% during trading on Monday . The company traded as low as $8.01 and last traded at $8.1040. 285,932 shares traded hands during trading, a decline of 50% from the average session volume of 571,793 shares. The stock had previously closed at $8.95.

Analyst Ratings Changes

ALMS has been the topic of several recent analyst reports. HC Wainwright raised their price objective on shares of Alumis from $14.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, December 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Alumis in a report on Monday, December 29th. Finally, Wall Street Zen raised Alumis from a “sell” rating to a “hold” rating in a research note on Saturday, December 6th. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Alumis has a consensus rating of “Moderate Buy” and a consensus target price of $20.40.

Alumis Trading Down 9.9%

The business has a 50-day moving average price of $8.09 and a 200 day moving average price of $5.49. The stock has a market capitalization of $841.38 million, a P/E ratio of -1.99 and a beta of -2.09.

Alumis (NASDAQ:ALMS) last released its quarterly earnings results on Thursday, November 13th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.14). The company had revenue of $2.07 million for the quarter, compared to the consensus estimate of $3.14 million. On average, sell-side analysts predict that Alumis Inc. will post -8.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Foresite Capital Management Vi acquired 200,000 shares of the company’s stock in a transaction on Monday, November 17th. The stock was bought at an average cost of $5.59 per share, with a total value of $1,118,000.00. Following the completion of the purchase, the insider directly owned 2,234,129 shares of the company’s stock, valued at $12,488,781.11. This represents a 9.83% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Srinivas Akkaraju acquired 276,179 shares of the business’s stock in a transaction on Thursday, November 13th. The shares were purchased at an average price of $5.25 per share, for a total transaction of $1,449,939.75. Following the transaction, the director directly owned 276,179 shares of the company’s stock, valued at approximately $1,449,939.75. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have purchased 2,788,875 shares of company stock worth $18,352,357. Insiders own 40.70% of the company’s stock.

Hedge Funds Weigh In On Alumis

A number of hedge funds have recently added to or reduced their stakes in ALMS. Orbimed Advisors LLC purchased a new position in shares of Alumis during the second quarter worth approximately $5,779,000. Velan Capital Investment Management LP bought a new stake in Alumis during the 2nd quarter valued at $4,863,000. Woodline Partners LP raised its position in Alumis by 809.7% during the 3rd quarter. Woodline Partners LP now owns 1,751,150 shares of the company’s stock valued at $6,987,000 after purchasing an additional 1,558,660 shares in the last quarter. Samsara Biocapital LLC lifted its holdings in shares of Alumis by 47.0% in the 2nd quarter. Samsara Biocapital LLC now owns 4,801,370 shares of the company’s stock worth $14,404,000 after buying an additional 1,534,872 shares during the period. Finally, Tybourne Capital Management HK Ltd. bought a new position in shares of Alumis during the 2nd quarter worth $4,198,000.

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.