HC Wainwright Issues Pessimistic Forecast for Alumis (NASDAQ:ALMS) Stock Price

Alumis (NASDAQ:ALMS) had its target price dropped by HC Wainwright from $15.00 to $9.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright‘s price objective indicates a potential upside of 46.82% from the company’s previous close.

ALMS has been the subject of a number of other reports. Weiss Ratings cut Alumis from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, October 27th. Cantor Fitzgerald restated an “overweight” rating on shares of Alumis in a research report on Wednesday, September 16th. Morgan Stanley dropped their target price on shares of Alumis from $39.00 to $29.00 and set an “overweight” rating for the company in a research note on Wednesday, September 2nd. Oppenheimer reduced their target price on shares of Alumis from $55.00 to $37.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 2nd. Finally, Citigroup reissued an “overweight” rating on shares of Alumis in a research note on Tuesday, September 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $32.73.

Alumis Stock Down 7.4%

Shares of Alumis stock opened at $6.13 on Friday. The firm’s 50-day moving average price is $7.36 and its two-hundred day moving average price is $20.56. Alumis has a 1-year low of $4.60 and a 1-year high of $31.35.

Alumis (NASDAQ:ALMS) last announced its earnings results on Thursday, November 12th. The company reported ($0.73) EPS for the quarter, topping the consensus estimate of ($0.76) by $0.03. The business had revenue of $1.91 million for the quarter, compared to the consensus estimate of $1.90 million. Alumis had a negative return on equity of 93.15% and a negative net margin of 5,933.46%. Research analysts anticipate that Alumis will post -2.95 earnings per share for the current fiscal year.

Insider Transactions at Alumis

In related news, Director Srinivas Akkaraju bought 546,581 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The stock was bought at an average cost of $10.63 per share, for a total transaction of $5,810,156.03. Following the transaction, the director owned 4,937,026 shares of the company’s stock, valued at $52,480,586.38. This represents a 12.45% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 99,754 shares of company stock worth $1,037,804 in the last quarter. 33.70% of the stock is currently owned by company insiders.

Institutional Trading of Alumis

Hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new position in Alumis during the 2nd quarter worth approximately $231,259,000. venBio Partners LLC acquired a new position in Alumis during the second quarter valued at approximately $127,429,401. Jupiter Topco LLC acquired a new position in Alumis during the second quarter valued at approximately $66,238,000. Octagon Capital Advisors LP increased its stake in Alumis by 11.9% in the first quarter. Octagon Capital Advisors LP now owns 2,830,700 shares of the company’s stock valued at $62,360,000 after purchasing an additional 300,000 shares in the last quarter. Finally, Janus Henderson Group PLC bought a new stake in Alumis in the first quarter valued at approximately $46,790,000.

About Alumis

Alumis is a clinical-stage biopharmaceutical company developing medicines for autoimmune and inflammatory diseases. The company uses data and computational tools to support the discovery and development of targeted treatments. Its lead investigational program, ESK-001, is an oral, selective TYK2 inhibitor being studied for conditions including plaque psoriasis and systemic lupus erythematosus. Alumis is also advancing other drug candidates for immune-mediated diseases. These medicines remain in clinical development and are not approved for commercial use.