Why Alumis Inc. (ALMS) Went Down On Thursday?

We recently published a list of Thursday’s 10 Worst-Performing Stocks. In this article, we are going to take a look at where Alumis Inc. (NASDAQ:ALMS) stands against other Thursday’s worst-performing stocks.

Wall Street’s main indices edged lower on Thursday, erasing gains from the previous trading day that was buoyed by the Federal Reserve’s decision to keep rates unchanged.

Among the major indices, the tech-heavy Nasdaq led the drop, losing 0.33 percent. The S&P 500 declined by 0.22 percent, while the Dow Jones dipped by 0.03 percent.

Ten companies, predominantly under the micro- and small-cap sectors also mirrored losses. In this article, we have identified Thursday’s 10 worst performers and detailed the reasons behind their gains.

We classify micro-cap companies as those between $50 million and $300 million in market capitalization and small-cap firms as those between $300 million and $2 billion in market capitalization.

Alumis Inc. (NASDAQ:ALMS)

Alumis fell for a second day on Thursday, losing 18.31 percent to end at $3.57 each as investors resorted to profit-taking as investors sold off positions following disappointing earnings performance.

In its latest earnings release, ALMS said its net loss widened by 89.7 percent to $294 million last year from $154.99 million in 2023 as operational loss dived by 90 percent to $300.75 million from $158.17 million.

“Alumis concluded a strong 2024, continuing to establish our late-stage pipeline of next-generation oral TYK2 inhibitors that have the potential to address significant unmet patient needs in immune-mediated diseases around the world,” said ALMS President and CEO Martin Babler.

Over the next 12 to 18 months, ALMS expects to bring major milestones, including topline data from the pivotal Phase 3 program for ESK-001 in moderate-to-severe plaque psoriasis in the first quarter of 2026, the start of Phase 2 trial of A-005 in multiple sclerosis in the second half of 2025, and expect data from ESK-001’s Phase 2b clinical trial in systemic lupus erythematosus in 2026.

Overall, ALMS ranks 9th on our list of Thursday’s worst-performing stocks. While we acknowledge the potential of ALMS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as ALMS but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.