Q3 2024 EPS Estimates for Alumis Inc. Cut by Analyst (NASDAQ:ALMS)

Alumis Inc. (NASDAQ:ALMS) – Research analysts at Leerink Partnrs dropped their Q3 2024 earnings estimates for Alumis in a research report issued on Tuesday, August 13th. Leerink Partnrs analyst T. Smith now expects that the company will post earnings per share of ($1.34) for the quarter, down from their previous estimate of ($1.08). Leerink Partnrs currently has a “Strong-Buy” rating on the stock. The consensus estimate for Alumis’ current full-year earnings is ($5.91) per share. Leerink Partnrs also issued estimates for Alumis’ Q4 2024 earnings at ($0.98) EPS, FY2024 earnings at ($8.13) EPS, FY2025 earnings at ($13.41) EPS, FY2026 earnings at ($12.51) EPS, FY2027 earnings at ($12.66) EPS and FY2028 earnings at ($6.42) EPS.

A number of other research analysts have also commented on the stock. Cantor Fitzgerald assumed coverage on shares of Alumis in a research report on Tuesday, July 23rd. They set an “overweight” rating and a $13.00 price objective for the company. SVB Leerink started coverage on Alumis in a research report on Tuesday, July 23rd. They issued an “outperform” rating and a $29.00 price objective for the company. Morgan Stanley assumed coverage on Alumis in a report on Tuesday, July 23rd. They set an “overweight” rating and a $36.00 price objective on the stock. Finally, Guggenheim assumed coverage on Alumis in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $32.00 target price for the company. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $27.50.

Alumis Price Performance

Shares of Alumis stock opened at $12.80 on Friday. Alumis has a fifty-two week low of $10.45 and a fifty-two week high of $13.53.

Institutional Investors Weigh In On Alumis

A number of institutional investors have recently added to or reduced their stakes in the stock. Towerview LLC acquired a new position in shares of Alumis in the 2nd quarter worth approximately $4,123,000. SR One Capital Management LP bought a new stake in Alumis in the second quarter valued at $26,067,000. Ally Bridge Group NY LLC acquired a new position in Alumis during the second quarter worth $8,229,000. Yu Fan bought a new position in shares of Alumis during the second quarter valued at $10,502,000. Finally, Millennium Management LLC bought a new position in shares of Alumis during the second quarter valued at $3,376,000.

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.