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

Wall Street Zen downgraded shares of Alumis (NASDAQ:ALMS) from a hold rating to a sell rating in a report published on Saturday,Wall Street Zen reports.

A number of other analysts have also recently commented on ALMS. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alumis in a research report on Tuesday, July 7th. HC Wainwright upgraded Alumis from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $25.00 to $15.00 in a research note on Wednesday, September 2nd. Citigroup reaffirmed an “overweight” rating on shares of Alumis in a research report on Tuesday, September 1st. Robert W. Baird set a $27.00 price objective on Alumis in a research note on Tuesday, September 1st. Finally, Guggenheim downgraded Alumis from a “buy” rating to a “neutral” rating in a report on Thursday. 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $33.27.

Alumis Stock Performance

Shares of NASDAQ:ALMS opened at $11.10 on Friday. The firm has a 50 day simple moving average of $25.01 and a 200-day simple moving average of $24.49. Alumis has a twelve month low of $3.76 and a twelve month high of $31.35. The company has a market capitalization of $1.44 billion, a PE ratio of -2.88 and a beta of -0.81.

Alumis (NASDAQ:ALMS) last posted its earnings results on Thursday, August 13th. The company reported ($1.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.34). Alumis had a negative net margin of 5,933.46% and a negative return on equity of 93.15%. The company had revenue of $1.66 million during the quarter, compared to analysts’ expectations of $3.65 million. As a group, equities research analysts predict that Alumis will post -2.95 EPS for the current fiscal year.

Insider Buying and Selling at Alumis

In other Alumis news, insider Sanam Pangali sold 1,364 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $26.37, for a total transaction of $35,968.68. Following the completion of the sale, the insider directly owned 9,747 shares of the company’s stock, valued at $257,028.39. This represents a 12.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark Bradley sold 2,572 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $26.37, for a total value of $67,823.64. Following the sale, the insider directly owned 48,533 shares of the company’s stock, valued at $1,279,815.21. The trade was a 5.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 19,953 shares of company stock valued at $534,311. Corporate insiders own 33.70% of the company’s stock.

Institutional Investors Weigh In On Alumis

Several large investors have recently modified their holdings of ALMS. KBC Group NV purchased a new position in Alumis in the 1st quarter valued at $42,000. Strs Ohio raised its position in Alumis by 300.0% during the 1st quarter. Strs Ohio now owns 2,000 shares of the company’s stock worth $44,000 after buying an additional 1,500 shares during the last quarter. State of Wyoming acquired a new stake in shares of Alumis in the 1st quarter worth $57,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Alumis by 600.4% in the first quarter. EverSource Wealth Advisors LLC now owns 3,131 shares of the company’s stock valued at $69,000 after acquiring an additional 2,684 shares in the last quarter. Finally, Assetmark Inc. purchased a new stake in shares of Alumis in the first quarter valued at about $92,000.

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.