Alumis Inc. (NASDAQ:ALMS) Stock Has Average Price Target of $33.27

Shares of Alumis Inc. (NASDAQ:ALMS) have received a consensus recommendation of “Moderate Buy” from the fourteen analysts that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, eleven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $33.27.

A number of equities research analysts have issued reports on ALMS shares. Wells Fargo & Company decreased their target price on shares of Alumis from $51.00 to $25.00 and set an “overweight” rating for the company in a research note on Wednesday, September 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alumis in a research note on Wednesday, September 16th. Wall Street Zen downgraded shares of Alumis from a “hold” rating to a “sell” rating in a research note on Saturday, September 5th. Citigroup reiterated an “overweight” rating on shares of Alumis in a report on Tuesday, September 1st. Finally, HC Wainwright reissued a “buy” rating on shares of Alumis in a research report on Monday, October 5th.

Insiders Place Their Bets

In other news, Director Srinivas Akkaraju purchased 546,581 shares of the business’s stock in a transaction dated Tuesday, September 8th. The stock was bought at an average cost of $10.63 per share, with a total value of $5,810,156.03. Following the purchase, the director directly owned 4,937,026 shares of the company’s stock, valued at approximately $52,480,586.38. This trade represents a 12.45% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders sold 99,754 shares of company stock valued at $1,037,804. Corporate insiders own 33.70% of the company’s stock.

Institutional Investors Weigh In On Alumis

Several large investors have recently made changes to their positions in ALMS. Integrated Wealth Concepts LLC acquired a new position in Alumis in the second quarter worth approximately $33,000. KBC Group NV bought a new position in Alumis during the first quarter valued at approximately $42,000. Strs Ohio lifted its stake in Alumis by 300.0% in 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 last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Alumis in the third quarter valued at approximately $49,000. Finally, State of Wyoming bought a new stake in Alumis in the first quarter worth approximately $57,000.

Alumis Price Performance

NASDAQ ALMS opened at $6.03 on Friday. The firm has a market capitalization of $780.49 million, a price-to-earnings ratio of -1.56 and a beta of -0.28. The company has a 50 day simple moving average of $8.13 and a 200-day simple moving average of $20.95. Alumis has a 52-week low of $4.40 and a 52-week high of $31.35.

Alumis (NASDAQ:ALMS) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($1.11) 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 analysts’ expectations of $3.65 million. Alumis had a negative net margin of 5,933.46% and a negative return on equity of 93.15%. On average, analysts predict that Alumis will post -2.95 EPS for the current year.

About Alumis

Alumis (NASDAQ: ALMS) is a clinical-stage biopharmaceutical company focused on developing oral therapies for immune-mediated diseases. The company’s research is centered on selective modulation of the immune system, with the goal of providing effective, convenient treatments that may address conditions inadequately served by existing therapies.

Its lead product candidate, ESK-001, is an investigational oral allosteric tyrosine kinase 2 (TYK2) inhibitor designed to selectively regulate signaling pathways involved in inflammatory and autoimmune diseases.