Alumis Inc. ALMS

Alumis stock presents a sharp disconnect between recent share price swings and what broad valuation checks suggest. After a very strong 1 year return, the company now screens as expensive on the wider metrics, even after a steep pullback following mixed trial news. Alumis has delivered a 121.2% return over the past year, which puts extra focus on whether the current price already reflects much of the good news investors expect. The recent Phase 2b LUMUS trial setback in lupus, together with...

In early September 2026, Alumis reported that its Phase 2b LUMUS trial of envudeucitinib in moderate-to-severe systemic lupus erythematosus failed to meet primary and secondary endpoints in the overall patient population, despite a favorable safety profile over 48 weeks. An important finding was that a prespecified subgroup of patients with a high interferon gene signature showed robust clinical responses, supporting Alumis’ plan to pursue biomarker-driven Phase 3 development and an NDA in...