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Alumis Inc.
(NASDAQ:ALMS)
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Rating:57Neutral
Price Target:
$30.00
▲(7.14% Upside)
Action:Reiterated
Date:07/08/26
The score is held back primarily by weak financial performance (sharp TTM revenue decline, very large operating losses, and heavy negative operating/free cash flow), partly offset by strong technical momentum (price above major moving averages and positive MACD). Valuation remains challenging due to losses (negative P/E), while recent corporate updates are modestly positive but secondary versus the current burn rate.
Positive Factors
Low leverage / strong capitalization
Alumis’ minimal debt relative to equity (debt-to-equity ~0.06) is a durable financial strength: it reduces near-term refinancing risk, preserves flexibility to fund R&D or acquisitions, and provides a stronger buffer against cash burn while management executes clinical milestones.
Negative Factors
Heavy operating cash burn
Sustained negative operating and free cash flow at scale (-~$376M TTM) is a structural strain: it shortens runway, forces frequent capital raises or dilution, and can limit ability to fund pivotal trials or commercial launch without external financing over the next 2–6 months.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / strong capitalization
Alumis’ minimal debt relative to equity (debt-to-equity ~0.06) is a durable financial strength: it reduces near-term refinancing risk, preserves flexibility to fund R&D or acquisitions, and provides a stronger buffer against cash burn while management executes clinical milestones.
Read all positive factors
Alumis Inc. (ALMS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.69B
Dividend YieldN/A
Average Volume (3M)1.58M
Price to Earnings (P/E)―
Beta (1Y)-1.28
Revenue Growth-51.68%
EPS Growth69.60%
CountryUS
Employees223
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.91
Shares Outstanding123,432,076
10 Day Avg. Volume1,117,677
30 Day Avg. Volume1,579,261
Financial Highlights & Ratios
PEG Ratio0.05
Price to Book (P/B)27.54
Price to Sales (P/S)345.07
P/FCF Ratio-22.42
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$40.00Price Target Upside42.86% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering8
EPS Forecast (FY)-2.86
Revenue Forecast (FY)$7.80M
Alumis Inc. Business Overview & Revenue Model
Company Description
Alumis Inc., a clinical stage biopharmaceutical company, focuses on the development and commercialization of medicines for autoimmune disorders. The company offers envudeucitinib, a tyrosine kinase 2 (TYK2) inhibitor for the treatment of plaque ps...
How the Company Makes Money
As a clinical-stage biotechnology company, Alumis does not have publicly available information indicating recurring product sales as a primary revenue source; revenue, if any, is typically driven by external funding and strategic transactions rath...
Alumis Inc. Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
62
Positive
Cash Flow
21
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 8.40M | 24.05M | 0.00 | 0.00 | 0.00 |
| Gross Profit | 7.53M | 20.55M | -3.15M | 0.00 | -250.00K |
| EBITDA | -414.05M | -248.39M | -291.08M | -153.71M | -111.68M |
| Net Income | -237.41M | -243.32M | -294.23M | -154.99M | -111.93M |
Balance Sheet | |||||
| Total Assets | 671.59M | 411.94M | 340.99M | 89.61M | 108.17M |
| Cash, Cash Equivalents and Short-Term Investments | 522.94M | 308.50M | 288.26M | 48.95M | 92.86M |
| Total Debt | 35.66M | 36.91M | 30.72M | 32.58M | 1.78M |
| Total Liabilities | 104.57M | 110.64M | 80.89M | 428.87M | 303.41M |
| Stockholders Equity | 567.02M | 301.30M | 260.10M | -339.26M | -195.24M |
Cash Flow | |||||
| Free Cash Flow | -377.03M | -370.18M | -256.81M | -134.47M | -110.13M |
| Operating Cash Flow | -376.25M | -369.52M | -255.08M | -129.97M | -107.72M |
| Investing Cash Flow | -37.24M | 287.88M | -113.79M | 60.47M | -68.75M |
| Financing Cash Flow | 349.06M | 2.07M | 492.37M | 89.68M | 101.63M |
Alumis Inc. Technical Analysis
Positive
28.00
Price Trends
24.97
Positive
24.59
Positive
19.97
Positive
Market Momentum
1.11
Positive
53.84
Neutral
55.40
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ALMS, the sentiment is Positive. The current price of 28 is below the 20-day moving average (MA) of 28.29, above the 50-day MA of 24.97, and above the 200-day MA of 19.97, indicating a neutral trend. The MACD of 1.11 indicates Positive momentum. The RSI at 53.84 is Neutral, neither overbought nor oversold. The STOCH value of 55.40 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ALMS.
Alumis Inc. Risk Analysis
Alumis Inc. disclosed 78 risk factors in its most recent earnings report. Alumis Inc. reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Alumis Inc. Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
57 Neutral | $3.69B | -14.79 | -54.63% | ― | -51.68% | 69.60% | |
52 Neutral | $407.22M | -1.37 | -128.53% | ― | 928.46% | -21.39% | |
52 Neutral | $1.29B | -9.37 | -63.58% | ― | -61.87% | 10.39% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
43 Neutral | $141.18M | -1.00 | 65.27% | ― | 4.43% | 27.41% |
* Healthcare Sector Average
ALMS
Alumis Inc.
28.25
24.12
584.02%
AUTL
Autolus Therapeutics
1.49
-0.86
-36.60%
ADCT
ADC Therapeutics
1.05
-1.64
-60.97%
ABSI
AbSci
7.78
4.88
168.28%
Alumis Inc. Corporate Events
Executive/Board ChangesShareholder Meetings
Alumis Shareholders Reelect Directors and Ratify Auditor
Positive
Jul 2, 2026
On June 30, 2026, Alumis Inc. held its 2026 Annual Meeting of Stockholders, where shareholders elected James B. Tananbaum, Lynn Tetrault and Zhengbin (Bing) Yao as Class II directors to serve until the 2029 annual meeting. The election results, wi...
Business Operations and StrategyProduct-Related Announcements
Alumis Highlights TYK2 Strategy in Updated Investor Presentation
Positive
Jun 29, 2026
On June 29, 2026, Alumis Inc. updated its corporate presentation for investors and analysts, highlighting its strategy to transform treatment of immune-mediated diseases with next-generation TYK2 inhibitors envudeucitinib and A-005. The company em...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.