Alumis (NASDAQ:ALMS) Hits New 12-Month High – What’s Next?

Alumis Inc. (NASDAQ:ALMS) shares reached a new 52-week high on Wednesday . The company traded as high as $31.35 and last traded at $29.7610, with a volume of 575628 shares traded. The stock had previously closed at $29.27.

Wall Street Analyst Weigh In

ALMS has been the subject of a number of research analyst reports. Morgan Stanley reaffirmed an “overweight” rating and set a $39.00 price objective on shares of Alumis in a report on Friday, May 15th. Raymond James Financial began coverage on Alumis in a report on Tuesday, March 10th. They set a “strong-buy” rating and a $46.00 price target on the stock. Citigroup reaffirmed a “buy” rating on shares of Alumis in a research note on Tuesday, May 19th. Wall Street Zen downgraded shares of Alumis from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, Chardan Capital boosted their price objective on Alumis from $38.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Alumis presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.30.

Alumis Stock Up 0.3%

The firm has a market capitalization of $3.74 billion, a PE ratio of -14.84 and a beta of -0.73. The company’s 50-day simple moving average is $23.37 and its 200 day simple moving average is $23.18.

Alumis (NASDAQ:ALMS) last announced its earnings results on Thursday, May 14th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.73) by ($0.01). Alumis had a negative net margin of 2,825.70% and a negative return on equity of 88.79%. The firm had revenue of $1.74 million during the quarter, compared to analyst estimates of $2.10 million. On average, sell-side analysts forecast that Alumis Inc. will post -2.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alumis

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cormorant Asset Management LP increased its holdings in shares of Alumis by 69.3% during the fourth quarter. Cormorant Asset Management LP now owns 3,635,596 shares of the company’s stock valued at $35,483,000 after acquiring an additional 1,488,200 shares in the last quarter. PSP Research LLC purchased a new stake in Alumis during the 4th quarter worth approximately $427,000. Grange Capital LLC purchased a new stake in Alumis during the 4th quarter worth approximately $312,000. Los Angeles Capital Management LLC increased its stake in Alumis by 32.9% during the 4th quarter. Los Angeles Capital Management LLC now owns 163,084 shares of the company’s stock valued at $1,592,000 after purchasing an additional 40,383 shares in the last quarter. Finally, Sei Investments Co. purchased a new position in shares of Alumis in the first quarter worth $205,000.

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.