Stock market today: S&P 500 climbs as health care, tech gain; Nvidia earnings loom
In a recent transaction, Martin Babler, President, CEO, and Chairman of Alumis Inc. (NASDAQ:ALMS), acquired 15,650 shares of the company’s common stock. The purchase comes as the stock has shown significant momentum, posting an impressive 82% return over the past week, though it remains 36% lower year-over-year. The shares were purchased at a weighted-average price of $6.44, with prices ranging from $6.18 to $6.95. This acquisition, totaling approximately $100,732, was conducted through a revocable trust for which Babler serves as trustee. Following this transaction, Babler now holds 106,454 shares of Alumis Inc. stock indirectly through the trust. While the company maintains a strong liquidity position with a current ratio of 6.01, InvestingPro analysis indicates rapid cash burn and suggests the stock is currently overvalued. Subscribers can access 8 additional key insights about ALMS’s financial health and market position.
In other recent news, Alumis Inc. reported a net loss of $1.73 per share for the fourth quarter of 2024, which was larger than analysts’ expectations of a $1.39 per share loss. The company’s research and development expenses reached $87.2 million, and general and administrative costs were $11.4 million, both exceeding forecasts. Despite these financial outcomes, H.C. Wainwright maintains a Buy rating on Alumis, although it adjusted the stock’s price target to $15 from $19. Alumis has entered a strategic partnership with Kaken Pharmaceutical (TADAWUL:2070) to develop and commercialize the TYK2 inhibitor, ESK-001, in Japan, potentially earning up to $180 million in payments. Baird reiterated its Outperform rating with a $17 price target, following promising data from Alumis’s Phase 1 study of A-005. Cantor Fitzgerald also maintained an Overweight rating, expressing optimism about ESK-001’s market potential in psoriasis treatment. The anticipated merger with SLRN is expected to bolster Alumis’s financial position, providing capital for ongoing trials. These developments reflect significant strategic moves for Alumis in expanding its therapeutic offerings and strengthening its financial foundation.
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