Alumis (NASDAQ:ALMS) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Alumis (NASDAQ:ALMS) from a sell rating to a strong sell rating in a research report sent to investors on Saturday morning.

A number of other equities research analysts have also recently issued reports on the company. HC Wainwright reiterated a “neutral” rating and issued a $25.00 target price on shares of Alumis in a research note on Friday. Chardan Capital increased their price objective on shares of Alumis from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, May 19th. Guggenheim lifted their price objective on shares of Alumis from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Alumis in a research note on Tuesday, July 7th. Finally, Morgan Stanley restated an “overweight” rating and issued a $39.00 target price on shares of Alumis in a research report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Alumis presently has an average rating of “Moderate Buy” and a consensus price target of $40.30.

Alumis Trading Up 0.8%

Shares of Alumis stock opened at $25.50 on Friday. The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of -6.61 and a beta of -0.69. Alumis has a twelve month low of $3.76 and a twelve month high of $31.35. The business’s 50 day simple moving average is $26.32 and its 200-day simple moving average is $25.26.

Alumis (NASDAQ:ALMS) last released its quarterly earnings data on Thursday, August 13th. The company reported ($1.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.34). The company had revenue of $1.66 million for the quarter, compared to analyst estimates of $3.65 million. Alumis had a negative net margin of 5,933.46% and a negative return on equity of 93.15%. Sell-side analysts predict that Alumis will post -2.87 earnings per share for the current year.

Insider Activity at Alumis

In other news, insider Sanam Pangali sold 5,000 shares of the firm’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $28.00, for a total transaction of $140,000.00. Following the transaction, the insider directly owned 11,111 shares of the company’s stock, valued at approximately $311,108. This trade represents a 31.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John R. Schroer sold 3,282 shares of Alumis stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $26.37, for a total transaction of $86,546.34. Following the sale, the chief financial officer owned 24,718 shares in the company, valued at approximately $651,813.66. This represents a 11.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 19,953 shares of company stock worth $534,311 in the last ninety days. 33.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alumis

Institutional investors and hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. increased its stake in Alumis by 320.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,419 shares of the company’s stock valued at $26,000 after buying an additional 4,894 shares during the period. New York State Common Retirement Fund lifted its stake in shares of Alumis by 173.7% in the 2nd quarter. New York State Common Retirement Fund now owns 11,767 shares of the company’s stock worth $35,000 after acquiring an additional 7,467 shares during the period. KBC Group NV bought a new position in shares of Alumis in the first quarter valued at approximately $42,000. Strs Ohio increased its stake in shares of Alumis by 300.0% during the first quarter. Strs Ohio now owns 2,000 shares of the company’s stock valued at $44,000 after acquiring an additional 1,500 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Alumis by 26.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,724 shares of the company’s stock worth $46,000 after purchasing an additional 979 shares in 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.