Alumis Inc. (ALMS)
NASDAQ:ALMS
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Alumis Inc.
(NASDAQ:ALMS)
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Rating:45Neutral
Price Target:
$22.50
▼(-1.70% Downside)
Action:ReiteratedDate:03/30/26
The score is primarily held down by weak financial performance (large and worsening losses plus significant cash burn). Technicals are also soft with the stock below key short-term moving averages and negative MACD. Offsetting this, corporate events are constructive due to strong Phase 3 results and regulatory-path progress, though tempered by dilution and legal-risk headlines.
Positive Factors
Phase 3 efficacy & regulatory path
Robust Phase 3 results demonstrating high PASI90 rates across two pivotal trials materially strengthen the firm’s clinical value proposition and support a planned U.S. regulatory filing. This creates a clear, durable path toward potential commercialization and strategic partnerships in psoriasis and related immune diseases.
Negative Factors
Heavy and worsening cash burn
Very large negative operating and free cash flow indicate that ongoing development is consuming substantial cash and will require external funding. Persistently high burn reduces runway, increases reliance on financing or partnerships, and elevates execution risk over the next several quarters without material revenue or financing relief.
Read all positive and negative factors
Positive Factors
Negative Factors
Phase 3 efficacy & regulatory path
Robust Phase 3 results demonstrating high PASI90 rates across two pivotal trials materially strengthen the firm’s clinical value proposition and support a planned U.S. regulatory filing. This creates a clear, durable path toward potential commercialization and strategic partnerships in psoriasis and related immune diseases.
Read all positive factors
Alumis Inc. (ALMS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.86B
Dividend YieldN/A
Average Volume (3M)1.59M
Price to Earnings (P/E)―
Beta (1Y)-1.56
Revenue GrowthN/A
EPS Growth13.80%
CountryUS
Employees168
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.88
Shares Outstanding123,139,430
10 Day Avg. Volume2,295,855
30 Day Avg. Volume1,592,686
Financial Highlights & Ratios
PEG Ratio0.47
Price to Book (P/B)27.54
Price to Sales (P/S)345.07
P/FCF Ratio-22.42
Enterprise Value/Market Cap0.97
Enterprise Value/Revenue115.01
Enterprise Value/Gross Profit119.31
Enterprise Value/Ebitda-6.68
Forecast
1Y Price Target
$39.71Price Target Upside73.48% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)-2.95
Revenue Forecast (FY)$7.89M
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. It develops ESK-001, an allosteric tyrosine kinase 2 (TYK2) inhibitor for the treatment of plaque psor...
How the Company Makes Money
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Alumis Inc. Financial Statement Overview
Summary
Income Statement
14
Very Negative
Balance Sheet
62
Positive
Cash Flow
12
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 |
|---|---|---|---|---|
Income Statement | ||||
| Total Revenue | 24.05M | 0.00 | 0.00 | 0.00 |
| Gross Profit | 20.55M | -3.15M | 0.00 | -250.00K |
| EBITDA | -423.71M | -297.60M | -156.89M | -113.60M |
| Net Income | -243.32M | -294.23M | -154.99M | -111.93M |
Balance Sheet | ||||
| Total Assets | 411.94M | 340.99M | 89.61M | 108.17M |
| Cash, Cash Equivalents and Short-Term Investments | 308.50M | 288.26M | 48.95M | 92.86M |
| Total Debt | 36.91M | 30.72M | 32.58M | 1.78M |
| Total Liabilities | 110.64M | 80.89M | 428.87M | 303.41M |
| Stockholders Equity | 301.30M | 260.10M | -339.26M | -195.24M |
Cash Flow | ||||
| Free Cash Flow | -370.18M | -256.81M | -134.47M | -110.13M |
| Operating Cash Flow | -369.52M | -255.08M | -129.97M | -107.72M |
| Investing Cash Flow | 287.88M | -113.79M | 60.47M | -68.75M |
| Financing Cash Flow | 2.07M | 492.37M | 89.68M | 101.63M |
Alumis Inc. Technical Analysis
Neutral
22.89
Price Trends
25.83
Negative
20.00
Positive
12.13
Positive
Market Momentum
-0.91
Positive
43.70
Neutral
57.02
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ALMS, the sentiment is Neutral. The current price of 22.89 is below the 20-day moving average (MA) of 23.72, below the 50-day MA of 25.83, and above the 200-day MA of 12.13, indicating a neutral trend. The MACD of -0.91 indicates Positive momentum. The RSI at 43.70 is Neutral, neither overbought nor oversold. The STOCH value of 57.02 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for ALMS.
Alumis Inc. Risk Analysis
Alumis Inc. disclosed 81 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 |
|---|---|---|---|---|---|---|---|
56 Neutral | $466.71M | -4.14 | -59.68% | ― | -33.09% | 3.38% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
48 Neutral | $391.23M | -1.84 | -99.00% | ― | 407.86% | 30.35% | |
47 Neutral | $484.04M | -3.14 | 76.03% | ― | 6.35% | 39.57% | |
45 Neutral | $2.86B | -34.11 | -72.65% | ― | ― | 13.80% |
* Healthcare Sector Average
ALMS
Alumis Inc.
22.89
17.78
347.95%
AUTL
Autolus Therapeutics
1.48
0.08
5.71%
ADCT
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3.86
2.65
219.01%
ABSI
AbSci
3.15
0.03
0.96%
Alumis Inc. Corporate Events
Business Operations and StrategyProduct-Related Announcements
Alumis Highlights Strong Phase 3 Psoriasis Results for Envudeucitinib
Positive
Mar 30, 2026
On March 28, 2026, Alumis reported Phase 3 data from its ONWARD1 and ONWARD2 trials showing that envudeucitinib, its oral TYK2 inhibitor, delivered rapid and robust skin clearance and symptom relief in adults with moderate-to-severe plaque psorias...
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.