Alumis (ALMS)
Market Price (5/5/2026): $26.135 | Market Cap: $2.7 BilSector: Health Care | Industry: Biotechnology
Alumis (ALMS)
Market Price (5/5/2026): $26.135Market Cap: $2.7 BilSector: Health CareIndustry: Biotechnology
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Megatrend and thematic driversMegatrends include Precision Medicine. Themes include Biopharmaceutical R&D, Targeted Therapies, and Personalized Diagnostics. | Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 12% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -454 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -1887% Expensive valuation multiplesP/SPrice/Sales ratio is 114x Stock price has recently run up significantly6M Rtn6 month market price return is 474%, 12M Rtn12 month market price return is 494% Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 74% Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 506% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -13% High stock price volatilityVol 12M is 127% Key risksALMS key risks include [1] the potential failure or adverse impact of its proposed merger with ACELYRIN, Show more. |
| Megatrend and thematic driversMegatrends include Precision Medicine. Themes include Biopharmaceutical R&D, Targeted Therapies, and Personalized Diagnostics. |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 12% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -454 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -1887% |
| Expensive valuation multiplesP/SPrice/Sales ratio is 114x |
| Stock price has recently run up significantly6M Rtn6 month market price return is 474%, 12M Rtn12 month market price return is 494% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 74% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 506% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -13% |
| High stock price volatilityVol 12M is 127% |
| Key risksALMS key risks include [1] the potential failure or adverse impact of its proposed merger with ACELYRIN, Show more. |
Qualitative Assessment
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Alumis (ALMS) stock has gained about 5% since 1/31/2026 because of the following key factors:
1. Alumis reported positive topline results from its Phase 3 ONWARD1 and ONWARD2 clinical trials for envudeucitinib in moderate-to-severe plaque psoriasis on January 6, 2026.
This announcement indicated that the drug met all primary and secondary endpoints with high statistical significance, leading to a significant increase in the stock price, with shares skyrocketing by 107.9% on that day. Further details on March 30, 2026, highlighted high levels of skin clearance, with PASI 90 rates reaching 68.0% and 62.1% by Week 24, and a favorable safety profile, supporting plans for a New Drug Application (NDA) submission in the second half of 2026.
2. The company successfully completed an upsized public offering in January 2026, bolstering its financial position.
On January 9, 2026, Alumis announced the closing of an upsized underwritten public offering of 20,297,500 shares of its common stock at a price of $17.00 per share, generating approximately $345.1 million in gross proceeds. This capital infusion provides financial stability for ongoing research and development efforts, including advancing its pipeline of next-generation targeted therapies.
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1. Alumis reported positive topline results from its Phase 3 ONWARD1 and ONWARD2 clinical trials for envudeucitinib in moderate-to-severe plaque psoriasis on January 6, 2026.
This announcement indicated that the drug met all primary and secondary endpoints with high statistical significance, leading to a significant increase in the stock price, with shares skyrocketing by 107.9% on that day. Further details on March 30, 2026, highlighted high levels of skin clearance, with PASI 90 rates reaching 68.0% and 62.1% by Week 24, and a favorable safety profile, supporting plans for a New Drug Application (NDA) submission in the second half of 2026.
2. The company successfully completed an upsized public offering in January 2026, bolstering its financial position.
On January 9, 2026, Alumis announced the closing of an upsized underwritten public offering of 20,297,500 shares of its common stock at a price of $17.00 per share, generating approximately $345.1 million in gross proceeds. This capital infusion provides financial stability for ongoing research and development efforts, including advancing its pipeline of next-generation targeted therapies.
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Stock Movement Drivers
Fundamental Drivers
The 6.6% change in ALMS stock from 1/31/2026 to 5/5/2026 was primarily driven by a 8.7% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 1312026 | 5052026 | Change |
|---|---|---|---|
| Stock Price ($) | 24.51 | 26.14 | 6.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 22 | 24 | 8.7% |
| P/S Multiple | 115.4 | 113.8 | -1.4% |
| Shares Outstanding (Mil) | 104 | 105 | -0.6% |
| Cumulative Contribution | 6.6% |
Market Drivers
1/31/2026 to 5/5/2026| Return | Correlation | |
|---|---|---|
| ALMS | 6.6% | |
| Market (SPY) | 3.6% | 26.2% |
| Sector (XLV) | -5.7% | 26.6% |
Fundamental Drivers
The 450.2% change in ALMS stock from 10/31/2025 to 5/5/2026 was primarily driven by a 528.2% change in the company's P/S Multiple.| (LTM values as of) | 10312025 | 5052026 | Change |
|---|---|---|---|
| Stock Price ($) | 4.75 | 26.14 | 450.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 20 | 24 | 19.9% |
| P/S Multiple | 18.1 | 113.8 | 528.2% |
| Shares Outstanding (Mil) | 76 | 105 | -27.0% |
| Cumulative Contribution | 450.2% |
Market Drivers
10/31/2025 to 5/5/2026| Return | Correlation | |
|---|---|---|
| ALMS | 450.1% | |
| Market (SPY) | 5.5% | 11.6% |
| Sector (XLV) | 1.6% | 24.7% |
Fundamental Drivers
The 531.3% change in ALMS stock from 4/30/2025 to 5/5/2026 was primarily driven by a 9.2233720368547763E17% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 4302025 | 5052026 | Change |
|---|---|---|---|
| Stock Price ($) | 4.14 | 26.14 | 531.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 24 | 9.2233720368547763E17% |
| P/S Multiple | ∞ | 113.8 | |
| Shares Outstanding (Mil) | 54 | 105 | -48.0% |
| Cumulative Contribution | 0.0% |
Market Drivers
4/30/2025 to 5/5/2026| Return | Correlation | |
|---|---|---|
| ALMS | 531.2% | |
| Market (SPY) | 30.4% | 15.3% |
| Sector (XLV) | 5.3% | 24.9% |
Fundamental Drivers
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Market Drivers
4/30/2023 to 5/5/2026| Return | Correlation | |
|---|---|---|
| ALMS | ||
| Market (SPY) | 78.7% | 11.6% |
| Sector (XLV) | 14.4% | 16.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| ALMS Return | - | - | - | -41% | 24% | 159% | 90% |
| Peers Return | -7% | 32% | 41% | -1% | 2% | 6% | 84% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 5% | 92% |
Monthly Win Rates [3] | |||||||
| ALMS Win Rate | - | - | - | 29% | 50% | 80% | |
| Peers Win Rate | 42% | 67% | 58% | 50% | 67% | 45% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 40% | |
Max Drawdowns [4] | |||||||
| ALMS Max Drawdown | - | - | - | -43% | -64% | -15% | |
| Peers Max Drawdown | -25% | 0% | -2% | -3% | -23% | -10% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: VRTX, ALPS, AVLN, DFTX, EIKN.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/5/2026 (YTD)
How Low Can It Go
| Event | ALMS | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -38.4% | -18.8% |
| % Gain to Breakeven | 62.4% | 23.1% |
| Time to Breakeven | 151 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -14.4% | -7.8% |
| % Gain to Breakeven | 16.9% | 8.5% |
| Time to Breakeven | 10 days | 18 days |
In The Past
Alumis's stock fell -38.4% during the 2025 US Tariff Shock. Such a loss loss requires a 62.4% gain to breakeven.
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Asset Allocation
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| Event | ALMS | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -38.4% | -18.8% |
| % Gain to Breakeven | 62.4% | 23.1% |
| Time to Breakeven | 151 days | 79 days |
In The Past
Alumis's stock fell -38.4% during the 2025 US Tariff Shock. Such a loss loss requires a 62.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Alumis (ALMS)
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. ESK-001 has demonstrated significant therapeutic effect in our Phase 2 program in patients with PsO, which we define as moderate-to-severe plaque psoriasis (PsO), and is currently being evaluated in an additional Phase 2 clinical trial in patients with systemic lupus erythematosus (SLE), for which we expect to report results in 2026. With the favorable results in our Phase 2 clinical trial in PsO, we intend to initiate multiple Phase 3 clinical trials of ESK-001 in the second half of 2024 in this indication. TYK2 genetic mutations are associated with a strong protective effect in multiple sclerosis, motivating us to develop our second product candidate, A-005, as a CNS-penetrant, allosteric TYK2 inhibitor for neuroinflammatory and neurodegenerative diseases. In April 2024, we initiated our Phase 1 program of A-005 in healthy volunteers and expect to report initial results by the end of 2024. We utilize our proprietary precision data analytics platform, biological insights and team of experienced research and development experts to deepen our understanding of disease pathologies, accelerate research and development and increase the probability of clinical success. Our collective insights informed our selection of TYK2 as the target for our two lead programs. Beyond TYK2, our proprietary precision data analytics platform and drug discovery expertise have led to the identification of additional preclinical programs that exemplify our precision approach. We recognize that patients living with immune-mediated diseases need alternatives to currently available therapies. Despite recent advances and innovations in the treatment of immune-mediated diseases, many patients continue to suffer, cycling through currently approved therapies while looking for a solution that alleviates the debilitating impact of their disease without life-limiting side effects. Addressing the needs of these patients is why we exist. We are pioneering a precision approach that leverages insights derived from powerful data analytics to select the right target, right molecule, right indication, right patient, right endpoint and right combination to dramatically improve patient outcomes. We believe that combining our insights with an integrated approach to drug development will produce the next generation of treatments to address immune dysfunction. We were founded in January 2021 as a Delaware corporation under the name FL2021-001, Inc. We changed our name to Esker Therapeutics, Inc. in March 2021, and subsequently to Alumis Inc. in January 2022. Our principal executive offices are located at 280 East Grand Avenue, South San Francisco, California.
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Here are 1-3 brief analogies for Alumis (ALMS):
A Bristol Myers Squibb focused on developing next-generation TYK2 inhibitors for autoimmune diseases.
A Vertex Pharmaceuticals for immunology, pioneering a precision approach to develop targeted therapies.
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- ESK-001: A second-generation TYK2 inhibitor in Phase 3 development for moderate-to-severe plaque psoriasis (PsO) and Phase 2 for systemic lupus erythematosus (SLE).
- A-005: A CNS-penetrant, allosteric TYK2 inhibitor in Phase 1 development for neuroinflammatory and neurodegenerative diseases.
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Major Customers of Alumis (ALMS)
Alumis (ALMS) is a clinical-stage biopharmaceutical company focused on developing therapies for immune-mediated diseases. As of the provided description, the company is conducting clinical trials (Phase 1, Phase 2, and preparing for Phase 3) for its drug candidates ESK-001 and A-005.
Given its current stage of development, Alumis is not yet commercializing or selling any products. Therefore, it does not have major customers in the traditional sense of companies or individuals purchasing its products or services.
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Martin Babler, President, Chief Executive Officer and Chairman of the Board
Prior to Alumis, Martin Babler served as President and CEO of Principia Biopharma, until its acquisition by Sanofi in October 2020. Before Principia Biopharma, he was President and CEO of Talima Therapeutics from 2007 to 2011. He also held various positions at Genentech and Eli Lilly and Company.
John Schroer, Chief Financial Officer
John Schroer joined Alumis in May 2022. Previously, he served as CFO for ArsenalBio Inc. Before that, he was CFO of Translate Bio, which was acquired by Sanofi. Earlier in his career, he held Portfolio Manager and Senior Analyst roles with Allianz Global Investors and founded Schroer Capital.
Roy Hardiman, Chief Business and Strategy Officer
Roy Hardiman joined Alumis in September 2021. Prior to Alumis, he was Chief Business Officer of Principia Biopharma, where he negotiated key collaborations with Sanofi and AbbVie. He also spent nearly two decades at Genentech.
Sanam Pangali, Chief Legal Officer and Corporate Secretary
Sanam Pangali joined Alumis in September 2024 as Senior Vice President, Legal, and was promoted to her current role in July 2025. Prior to Alumis, she held leadership roles at ACELYRIN, Inc., including Chief Legal Officer and Head of People, and was Senior Director & Associate General Counsel at Principia Biopharma Inc.
Mark Bradley, Chief Development Officer
Mark Bradley joined Alumis in March 2021. Before joining Alumis, he was Senior Vice President and South San Francisco Site Head at MyoKardia following its acquisition by Bristol Myers Squibb (BMS). He also served as SVP and Project Team Leader for CAMZYOS® prior to the acquisition and held various roles at Biomarin and Genentech.
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```htmlKey Business Risks for Alumis (ALMS)
- Clinical Trial Failure and Regulatory Approval Risk: As a clinical-stage biopharmaceutical company, Alumis's success hinges significantly on the successful completion of its ongoing and planned clinical trials, particularly the upcoming Phase 3 clinical trials for ESK-001 in moderate-to-severe plaque psoriasis (PsO) in the second half of 2024. Despite favorable Phase 2 results, Phase 3 trials are expensive, lengthy, and carry substantial risk of failure due to unforeseen efficacy issues, adverse safety events, or other factors in a larger patient population. Additionally, even if clinical trials are successful, there is no guarantee that regulatory bodies will approve the product candidates. The earlier-stage program for A-005, currently in Phase 1, also faces a high risk of failure inherent in early drug development.
- Competition: Alumis operates in a highly competitive landscape for immune-mediated diseases, with numerous established and emerging therapies. The company aims to provide alternatives to currently available treatments for conditions like psoriasis, systemic lupus erythematosus (SLE), and neuroinflammatory/neurodegenerative diseases. There is a risk that other companies may develop or market superior TYK2 inhibitors or other treatment modalities that are more effective, safer, or more cost-effective, thereby limiting Alumis's market potential and adoption if its drug candidates are approved.
- Limited Clinical-Stage Pipeline and Dependence on TYK2 Inhibitors: Alumis's current clinical-stage pipeline is primarily focused on two Tyrosine Kinase 2 (TYK2) inhibitors, ESK-001 and A-005. While the company mentions additional preclinical programs, its near-to-mid-term prospects are largely dependent on the success of these two TYK2-targeted molecules. If the TYK2 mechanism of action proves to be less effective than anticipated across various indications, or if both lead candidates encounter significant development or commercialization setbacks, the company's business and financial condition would be materially and adversely affected due to the lack of diverse late-stage assets.
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```html null ```AI Analysis | Feedback
Alumis (ALMS) is developing therapies for several immune-mediated diseases, targeting significant addressable markets. For its main product candidates, the addressable markets are as follows:- ESK-001 for Moderate-to-Severe Plaque Psoriasis (PsO): The global plaque psoriasis market was estimated at USD 21.12 billion in 2024 and is projected to reach USD 39.11 billion by 2030. Another estimate places the global psoriasis treatment market at USD 29.15 billion in 2025, with projections to grow to USD 72.99 billion by 2034. The plaque psoriasis segment constituted the largest share of this market, accounting for 41.31% in 2026. Furthermore, the psoriasis market across the top 7 markets (U.S., EU4, UK, and Japan) reached a value of US$19.2 billion in 2023 and is expected to reach US$35.8 billion by 2034.
- ESK-001 for Systemic Lupus Erythematosus (SLE): The global systemic lupus erythematosus market size was valued at USD 2.60 billion in 2023 and is projected to reach USD 4.26 billion by 2030. Other estimates show the global SLE drugs market size at USD 2.8 billion in 2024, expected to reach USD 4.7 billion by 2033. In 2023, the systemic lupus erythematosus market in the seven major markets (7MM) was approximately USD 3.2 billion, with the United States accounting for around USD 2.6 billion of this.
- A-005 for Neuroinflammatory and Neurodegenerative Diseases (including Multiple Sclerosis): The global neurodegenerative disease market is projected to grow from USD 55.21 billion in 2024 to USD 98.54 billion by 2032. Another source indicates the global neurodegenerative disease market size was valued at USD 59.06 billion in 2025 and is estimated to reach USD 109.73 billion by 2034. The global neurodegenerative diseases drugs market size was valued at USD 58.22 billion in 2025 and is projected to reach USD 93.09 billion by the end of 2034.
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The following are 3-5 expected drivers of future revenue growth for Alumis (ALMS) over the next 2-3 years:
- Commercialization of ESK-001 for moderate-to-severe plaque psoriasis (PsO): Alumis intends to initiate multiple Phase 3 clinical trials for ESK-001 in PsO in the second half of 2024, following favorable results in its Phase 2 program. Successful completion of these trials and subsequent regulatory approval would position ESK-001 for launch, representing a significant new product revenue stream.
- Advancement of ESK-001 in Systemic Lupus Erythematosus (SLE): ESK-001 is currently in a Phase 2 clinical trial for SLE, with results expected in 2026. Positive outcomes from this trial would validate ESK-001's potential in an additional large market, paving the way for further development and potential commercialization beyond psoriasis, thereby expanding the drug's revenue base.
- Progression of A-005 in neuroinflammatory and neurodegenerative diseases: Alumis initiated a Phase 1 program for A-005, a central nervous system (CNS) penetrant TYK2 inhibitor, in April 2024, with initial results anticipated by the end of 2024. Successful advancement of A-005 through early clinical stages would de-risk the program, enhance its value, and could lead to future revenue through partnerships, milestone payments, or eventual product launches in new therapeutic areas.
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Share Issuance
- Alumis raised $250 million through its Initial Public Offering (IPO) in June 2024, by offering 13,125,000 shares at $16.00 per share.
- A concurrent private placement with AyurMaya Capital Management Fund in June 2024 contributed an additional 2.5 million shares, bringing the total gross proceeds from the IPO and private placement to $260 million.
- In January 2026, Alumis completed an upsized underwritten public offering of 20,297,500 shares, including the full exercise of the underwriters' option, at $17.00 per share, generating approximately $345.1 million in gross proceeds.
Inbound Investments
- Alumis secured a $70 million Series A funding round in 2021.
- The company followed with a $200 million Series B funding round in 2022.
- In March 2024, Alumis closed a significant $259 million Series C financing round, co-led by Foresite Capital, Samsara BioCapital, and venBio Partners, with new investor Lilly Asia Ventures joining.
Capital Expenditures
- Alumis reported capital expenditures of -$4.5 million in 2022, -$1.73 million in 2023, and -$1.8 million in 2024.
- As of a recent period, the company's capital expenditures were -$1.02 million in the last 12 months.
- Management expects existing cash, cash equivalents, and marketable securities to cover capital expenditure requirements until at least 2027.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| ALMS Stock Surges 166% With A 6-day Winning Spree On Analyst Upgrades To $50 | 01/14/2026 | |
| Alumis Stock Pre-Market (+17%) : Anticipation of Phase 3 Psoriasis Data | 01/06/2026 | |
| Can Alumis Stock Hold Up When Markets Turn? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Trade Ideas
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| 04302026 | GEHC | GE HealthCare Technologies | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
| 04302026 | IQV | IQVIA | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
| 04302026 | UHS | Universal Health Services | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
| 04302026 | ABT | Abbott Laboratories | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
| 04302026 | ZBIO | Zenas BioPharma | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 0.0% | 0.0% | 0.0% |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 24.28 |
| Mkt Cap | 54.8 |
| Rev LTM | 24 |
| Op Inc LTM | -166 |
| FCF LTM | 1,531 |
| FCF 3Y Avg | 870 |
| CFO LTM | 1,750 |
| CFO 3Y Avg | 1,067 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 8.9% |
| Rev Chg 3Y Avg | 10.4% |
| Rev Chg Q | 9.5% |
| QoQ Delta Rev Chg LTM | 5.5% |
| Op Inc Chg LTM | -50.9% |
| Op Inc Chg 3Y Avg | 303.6% |
| Op Mgn LTM | -924.5% |
| Op Mgn 3Y Avg | 24.7% |
| QoQ Delta Op Mgn LTM | 106.6% |
| CFO/Rev LTM | 30.3% |
| CFO/Rev 3Y Avg | 20.5% |
| FCF/Rev LTM | 26.6% |
| FCF/Rev 3Y Avg | 17.0% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 54.8 |
| P/S | 61.3 |
| P/Op Inc | 8.7 |
| P/EBIT | 8.5 |
| P/E | 7.9 |
| P/CFO | 29.4 |
| Total Yield | -2.6% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 1.7% |
| D/E | 0.0 |
| Net D/E | -0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 0.0% |
| 3M Rtn | -8.2% |
| 6M Rtn | -3.5% |
| 12M Rtn | -8.7% |
| 3Y Rtn | 7.1% |
| 1M Excs Rtn | -6.7% |
| 3M Excs Rtn | -13.1% |
| 6M Excs Rtn | -10.1% |
| 12M Excs Rtn | -36.7% |
| 3Y Excs Rtn | -65.5% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 |
|---|---|---|---|
| Business of researching and developing medicines for autoimmune disorders | 0 | 0 | |
| Total | 0 | 0 |
| $ Mil | 2025 | 2024 | 2023 |
|---|---|---|---|
| Business of researching and developing medicines for autoimmune disorders | -301 | ||
| Total | -301 |
| $ Mil | 2025 | 2024 | 2023 |
|---|---|---|---|
| Business of researching and developing medicines for autoimmune disorders | -294 | ||
| Total | -294 |
| $ Mil | 2025 | 2024 | 2023 |
|---|---|---|---|
| Business of researching and developing medicines for autoimmune disorders | 90 | 108 | |
| Total | 90 | 108 |
Price Behavior
Price Behavior
| Market Price | $26.13 | |
| Market Cap ($ Bil) | 2.7 | |
| First Trading Date | 06/28/2024 | |
| Distance from 52W High | -12.8% | |
| 50 Days | 200 Days | |
| DMA Price | $25.21 | $13.84 |
| DMA Trend | up | down |
| Distance from DMA | 3.7% | 88.7% |
| 3M | 1YR | |
| Volatility | 69.4% | 127.0% |
| Downside Capture | 1.04 | 0.63 |
| Upside Capture | 132.18 | 299.14 |
| Correlation (SPY) | 25.0% | 14.6% |
ALMS Betas & Captures as of 4/30/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.49 | 1.71 | 1.28 | 1.42 | 1.58 | 0.16 |
| Up Beta | 1.83 | 1.52 | 1.14 | 0.62 | 1.51 | -1.21 |
| Down Beta | -2.04 | -0.46 | -0.97 | -0.97 | -0.52 | -0.02 |
| Up Capture | 146% | 159% | 173% | 920% | 845% | 67% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 14 | 21 | 31 | 68 | 126 | 222 |
| Down Capture | -63% | 286% | 207% | 29% | 121% | 93% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 8 | 22 | 33 | 55 | 121 | 232 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ALMS | |
|---|---|---|---|---|
| ALMS | 468.0% | 127.1% | 1.84 | - |
| Sector ETF (XLV) | 6.8% | 15.7% | 0.23 | 23.3% |
| Equity (SPY) | 27.8% | 12.5% | 1.73 | 14.3% |
| Gold (GLD) | 40.6% | 27.2% | 1.23 | 5.4% |
| Commodities (DBC) | 50.1% | 18.0% | 2.16 | -4.6% |
| Real Estate (VNQ) | 11.0% | 13.4% | 0.53 | 9.7% |
| Bitcoin (BTCUSD) | -17.3% | 42.2% | -0.34 | 1.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ALMS | |
|---|---|---|---|---|
| ALMS | 14.3% | 119.0% | 0.78 | - |
| Sector ETF (XLV) | 5.2% | 14.6% | 0.18 | 16.0% |
| Equity (SPY) | 12.8% | 17.1% | 0.59 | 11.6% |
| Gold (GLD) | 20.2% | 17.9% | 0.92 | 2.0% |
| Commodities (DBC) | 14.0% | 19.1% | 0.60 | -1.3% |
| Real Estate (VNQ) | 3.4% | 18.8% | 0.09 | 12.0% |
| Bitcoin (BTCUSD) | 7.9% | 56.2% | 0.35 | 5.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ALMS | |
|---|---|---|---|---|
| ALMS | 6.9% | 119.0% | 0.78 | - |
| Sector ETF (XLV) | 9.2% | 16.5% | 0.45 | 16.0% |
| Equity (SPY) | 14.9% | 17.9% | 0.71 | 11.6% |
| Gold (GLD) | 13.4% | 15.9% | 0.70 | 2.0% |
| Commodities (DBC) | 9.6% | 17.7% | 0.45 | -1.3% |
| Real Estate (VNQ) | 5.6% | 20.7% | 0.23 | 12.0% |
| Bitcoin (BTCUSD) | 67.4% | 66.9% | 1.06 | 5.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 3/19/2026 | -1.3% | 3.7% | -2.6% |
| 11/13/2025 | 4.5% | 31.1% | 115.9% |
| 8/13/2025 | -0.7% | -0.2% | -1.1% |
| 5/14/2025 | 18.6% | 6.0% | -30.4% |
| 2/6/2025 | -14.0% | -22.6% | -26.4% |
| 11/13/2024 | -13.0% | -10.8% | -22.4% |
| 8/13/2024 | 1.4% | 3.7% | -10.2% |
| SUMMARY STATS | |||
| # Positive | 3 | 4 | 1 |
| # Negative | 4 | 3 | 6 |
| Median Positive | 4.5% | 4.8% | 115.9% |
| Median Negative | -7.1% | -10.8% | -16.3% |
| Max Positive | 18.6% | 31.1% | 115.9% |
| Max Negative | -14.0% | -22.6% | -30.4% |
Recent Forward Guidance [BETA]
Latest: Q4 2025 Earnings Reported 3/19/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2027 Cash Runway | 2,028 | ||||||
Prior: Q3 2025 Earnings Reported 11/13/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Topline readout for ONWARD | |||||||
| Q3 2026 Topline readout for LUMUS | |||||||
| 2027 Cash Runway | |||||||
| 2026 A-005 Phase 2 clinical trial initiation | |||||||
| 2026 Phase 1 clinical data for next program | |||||||
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Akkaraju, Srinivas | Samsara Opportunity Fund, L.P. | Buy | 1132026 | 17.00 | 588,235 | 9,999,995 | 31,509,296 | Form | |
| 2 | Foresite, Labs, Llc | See Footnote | Buy | 1122026 | 17.00 | 411,764 | 6,999,988 | 96,943,112 | Form | |
| 3 | Foresite, Capital Management VI Llc | See Footnote | Buy | 1122026 | 17.00 | 411,764 | 6,999,988 | 96,943,112 | Form | |
| 4 | Tananbaum, James B | See Footnote | Buy | 1122026 | 17.00 | 411,764 | 6,999,988 | 96,943,112 | Form | |
| 5 | Akkaraju, Srinivas | Samsara Opportunity Fund, L.P. | Buy | 12092025 | 9.84 | 186,377 | 1,833,760 | 12,448,803 | Form |
Industry Resources
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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