Alumis (ALMS) Stock Overview

A clinical stage biopharmaceutical company, focuses on the development and commercialization of medicines for autoimmune disorders. More details

ALMS fundamental analysis
Snowflake Score
Valuation	1/6
Future Growth	2/6
Past Performance	0/6
Financial Health	6/6
Dividends	0/6

Rewards

Revenue is forecast to grow 57.57% per year

Risk Analysis

Shareholders have been substantially diluted in the past year

Currently unprofitable and not forecast to become profitable over the next 3 years

ALMS Community Fair Values

Create Narrative

See what 9 others think this stock is worth. Follow their fair value or set your own to get alerts.

View all narratives

Alumis Inc. Competitors

Price History & Performance

Summary of share price highs, lows and changes for Alumis
Historical stock prices
Current Share Price	US$23.51
52 Week High	US$30.60
52 Week Low	US$2.76
Beta	0
1 Month Change	2.00%
3 Month Change	-8.27%
1 Year Change	427.13%
3 Year Change	n/a
5 Year Change	n/a
Change since IPO	76.77%

Recent News & Updates

Seeking Alpha • Mar 25

Alumis: Oral Psoriasis Med Can Win Approval, Challenge Big Pharma In Major Markets

Summary Alumis Inc. is upgraded to Buy, reversing a prior Sell, based on strong Phase 3 envudeucitinib psoriasis data and pipeline potential. Envudeucitinib demonstrated efficacy comparable to JNJ's newly approved Icotyde, with 74% PASI 75 and 59% sPGA 0/1 at week 16. ALMS targets NDA submission for envudeucitinib in 2H 2026, with additional data in psoriatic arthritis and SLE expected in 2026. With a $2.91bn market cap and analyst targets of $45–$50, ALMS appears up to 40% undervalued, supported by blockbuster potential and robust cash runway. Read the full article on Seeking Alpha

Recent updates

Seeking Alpha • Mar 25

Alumis: Oral Psoriasis Med Can Win Approval, Challenge Big Pharma In Major Markets

Analysis Article • Aug 16

Alumis Inc. Beat Analyst Profit Forecasts, And Analysts Have New Estimates

It's been a pretty great week for Alumis Inc. ( NASDAQ:ALMS ) shareholders, with its shares surging 10% to US$4.75 in...

Analysis Article • May 29

News Flash: Analysts Just Made A Substantial Upgrade To Their Alumis Inc. (NASDAQ:ALMS) Forecasts

Alumis Inc. ( NASDAQ:ALMS ) shareholders will have a reason to smile today, with the analysts making substantial...

Seeking Alpha • Nov 28

Alumis: A Best-In-Class TYK2 Inhibitor

Summary Alumis' lead drug, ESK-001, is a potential best-in-class TYK2 inhibitor for treating plaque psoriasis and immunological diseases in general., with phase 3 trial data expected in 1H2026. With around $360M in cash, the company is expecting topline phase 3 data on ESK-001 in 1H2026. Given the risks for future dilution and the need for more safety data on the lead, we see Alumis as a compelling stock to monitor. Read the full article on Seeking Alpha

Seeking Alpha • Oct 04

Alumis: Could This Broken Immunology IPO Become The Next Amgen?

Summary With a drug in advanced testing for two different indications that have spawned several blockbuster drugs, could Alumis be the next immunology stock to soar on the Nasdaq? Investors who buy now can get it around 30% under the June 28th IPO price. Alumis is backed by prominent healthcare hedge funds such as Baker Brothers, VenBio, and Cormorant Asset Management. But do the potential gains justify the risk? We take an in-depth look at the company’s pipeline and trial results and deliver our verdict. Read the full article on Seeking Alpha

Seeking Alpha • Sep 16

Alumis: Recent IPO With Differentiated Data In Autoimmune Diseases

Summary Alumis, a recent IPO, has ESK-001, a promising phase 3 TYK2 inhibitor for Psoriasis and SLE, showing superior efficacy and safety over existing treatments. ESK-001's allosteric inhibition offers high selectivity and minimal off-target effects, potentially positioning it as a better alternative to the approved TYK2 inhibitor, Sotyktu. Despite strong midstage trial data and a solid cash runway, the highly competitive market and recent IPO status present significant investment risks. I remain cautious on ALMS, acknowledging its potential but wary of market differentiation and liquidity issues. A wait-and-watch approach is prudent. Read the full article on Seeking Alpha

Shareholder Returns

	ALMS	US Pharmaceuticals	US Market
7D	-10.0%	-1.5%	2.6%
1Y	427.1%	30.4%	26.2%

Return vs Industry: ALMS exceeded the US Pharmaceuticals industry which returned 30.4% over the past year.

Return vs Market: ALMS exceeded the US Market which returned 26.2% over the past year.

Price Volatility

Is ALMS's price volatile compared to industry and market?
ALMS volatility
ALMS Average Weekly Movement	10.1%
Pharmaceuticals Industry Average Movement	9.9%
Market Average Movement	7.2%
10% most volatile stocks in US Market	16.1%
10% least volatile stocks in US Market	3.2%

Stable Share Price: ALMS has not had significant price volatility in the past 3 months compared to the US market.

Volatility Over Time: ALMS's weekly volatility has decreased from 18% to 10% over the past year.

About the Company

Founded	Employees	CEO	Website
2021	223	Matt Babler	www.alumis.com

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 psoriasis and systemic lupus erythematosus; and A-005, a central nervous system-penetrant allosteric TYK2 inhibitor that is in Phase 1 for the treatment of neuroinflammatory and neurodegenerative diseases. It also develops lonigutamab, a monoclonal antibody targeting IGF-1R for the treatment of thyroid eye diseases; and interferon regulatory factor 5 (IRF5) to address immune dysfunction.

Alumis Inc. Fundamentals Summary

How do Alumis's earnings and revenue compare to its market cap?
ALMS fundamental statistics
Market cap	US$3.01b
Earnings (TTM)	-US$243.32m
Revenue (TTM)	US$24.05m

124.3x

P/S Ratio

-12.3x

P/E Ratio

Is ALMS overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
ALMS income statement (TTM)
Revenue	US$24.05m
Cost of Revenue	US$0
Gross Profit	US$24.05m
Other Expenses	US$267.38m
Earnings	-US$243.32m

Last Reported Earnings

Dec 31, 2025

Next Earnings Date

n/a

Earnings per share (EPS)	-1.91
Gross Margin	100.00%
Net Profit Margin	-1,011.75%
Debt/Equity Ratio	0%

How did ALMS perform over the long term?

See historical performance and comparison

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2026/05/12 21:39
End of Day Share Price	2026/05/12 00:00
Earnings	2025/12/31
Annual Earnings	2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Alumis Inc. is covered by 11 analysts. 11 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Brian Skorney	Baird
Eric Schmidt	Cantor Fitzgerald & Co.
Janani Sundararajan	Chardan Capital Markets, LLC

Alumis (ALMS) Stock Overview

Rewards

Risk Analysis

Alumis Inc. Competitors

Tarsus Pharmaceuticals

Liquidia

AtaiBeckley

Nuvation Bio

Price History & Performance

Recent News & Updates

Alumis Inc Announces Robust Clinical Results For Envudeucitinib In Plaque Psoriasis

Consensus revenue estimates increase by 15%

Alumis: Oral Psoriasis Med Can Win Approval, Challenge Big Pharma In Major Markets

Alumis Inc. has filed a Follow-on Equity Offering in the amount of $300 million.

Alumis Inc Announces Phase 3 Data Presentation for Envudeucitinib in Moderate-To-Severe Plaque Psoriasis

Alumis Inc. has completed a Follow-on Equity Offering in the amount of $300.05 million.

Recent updates

Alumis Inc Announces Robust Clinical Results For Envudeucitinib In Plaque Psoriasis

Consensus revenue estimates increase by 15%

Alumis: Oral Psoriasis Med Can Win Approval, Challenge Big Pharma In Major Markets

Alumis Inc. has filed a Follow-on Equity Offering in the amount of $300 million.

Alumis Inc Announces Phase 3 Data Presentation for Envudeucitinib in Moderate-To-Severe Plaque Psoriasis

Alumis Inc. has completed a Follow-on Equity Offering in the amount of $300.05 million.

Alumis Inc. has filed a Follow-on Equity Offering in the amount of $175 million.

New major risk - Share price stability

Alumis Inc. Announces Positive Topline Results from Phase 3 Onward1 and Onward2 Clinical Trials of Envudeucitinib

Climb Bio, Inc. Files Complaint Against Alumis Inc. and Acelyrin, Inc., Relating to A Dispute Concerning an Asset Purchase Agreement

New minor risk - Share price stability

Consensus EPS estimates fall by 11%

Consensus revenue estimates increase by 12%

Alumis Inc. Beat Analyst Profit Forecasts, And Analysts Have New Estimates

New major risk - Revenue and earnings growth

Price target decreased by 12% to US$19.00

New major risk - Shareholder dilution

Alumis Inc. Completes Patient Enrollment in the Global Lumus Phase 2b Trial of ESK-001

Alumis Inc. Announces Promotion of Sanam Pangali to Chief Legal Officer and Corporate Secretary

Alumis Inc.(NasdaqGS:ALMS) dropped from Russell 2000 Growth Index

Consensus revenue estimates increase by 22%, EPS downgraded

Alumis Inc., Annual General Meeting, Jul 30, 2025

News Flash: Analysts Just Made A Substantial Upgrade To Their Alumis Inc. (NASDAQ:ALMS) Forecasts

Alumis Inc. Completes Enrollment of Pivotal Phase 3 ONWARD Clinical Program of Lead Candidate ESK-001

Consensus revenue estimates increase by 16%

Consensus revenue estimates increase by 361%

Alumis Inc. (NasdaqGS:ALMS) completed the acquisition of Acelyrin, Inc. (NasdaqGS:SLRN) from group of shareholders.

New major risk - Financial position

Independent Director recently bought US$130k worth of stock

New major risk - Share price stability

Alumis Inc. Announces Positive 52-Week Data from the Open-Label Extension (OLE) of its Phase 2 STRIDE Clinical Trial Evaluating ESK-001 in Patients with Moderate-To-Severe Plaque Psoriasis

Alumis Inc. Announces Positive 52-Week Data from the Open-Label Extension of Its Phase 2 Stride Clinical Trial Evaluating ESK-001 in Patients with Moderate-To-Severe Plaque Psoriasis

Alumis Inc. (NasdaqGS:ALMS) entered into an Agreement and Plan of Merger to acquire Acelyrin, Inc. (NasdaqGS:SLRN) from group of shareholders for approximately $320 million.

Alumis Strengthens Leadership Team with Key Appointments

Alumis Inc. Announces Positive Phase 1 Data for CNS Penetrant TYK2 Inhibitor, A-005

Alumis: A Best-In-Class TYK2 Inhibitor

New minor risk - Share price stability

Alumis: Could This Broken Immunology IPO Become The Next Amgen?

Alumis Inc Announces Positive 28-Week Data from the Open-Label Extension (OLE) Period of its Phase 2 STRIDE Clinical Trial of ESK-001

Alumis: Recent IPO With Differentiated Data In Autoimmune Diseases

New major risk - Financial position

Alumis Initiates ONWARD Phase 3 Clinical Program Evaluating ESK-001, an Oral TYK2 Inhibitor, in Moderate-to-Severe Plaque Psoriasis

Alumis Inc. announced that it has received $40 million in funding from Matrix Capital Management Company, LP

Matrix Capital Management Engages in Discussions with Alumis

Alumis Inc. has completed an IPO in the amount of $210 million.

Alumis Inc. announced that it expects to receive $40 million in funding from Matrix Capital Management Company, LP

Shareholder Returns

Price Volatility

About the Company

Alumis Inc. Fundamentals Summary

Earnings & Revenue

Company Analysis and Financial Data Status

Data Sources

Analysis Model and Snowflake

Industry and Sector Metrics

Analyst Sources