Alumis Inc. Common Stock (ALMS)

FairStock Score: 23/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a value investor, I start with earning power, and Alumis has almost none. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $1.7 million and net loss was $142.2 million; in fiscal Q1 2026, revenue was $1.7 million and net loss was $93.1 million. For FY2025, revenue was $24.1 million and net loss was $243.3 million. FY2024 and FY2023 had no revenue and net losses of $294.2 million and $155.0 million. That is not a business with a moat; it is a pipeline whose value depends on clinical and regulatory success for envudeucitinib, A-005, and lonigutamab. The balance sheet has low leverage, with a FairStock-calculated debt-to-equity of 0.08, but trailing free cash flow is -$351.8 million and FCF yield is -42.0%, so cash burn is enormous. FairStock's price-based measures at the 2026-10-13 close of $6.56 include P/B of 1.86, P/E of -1.60, ROE of -93.65%, ROCE of -45.34%, Piotroski F-score of 2/9, Altman Z-score of 2.10, and a FairStock score of 23/100. Revenue growth is -37.66% and profit growth is -339.75% by FairStock's calculations. The Lynch rules classify it as none, because it lost money in each of the last three years. A low debt ratio and promising science are not enough. Without profits, positive cash flow, or a proven moat, the stock is a speculative bet on science, not a Graham-style bargain.

In plain English: Alumis is a drug development company working on medicines for autoimmune and brain-related diseases. It earns very little revenue, loses large amounts of money, and has not been profitable in the last three years. At the October 13, 2026 close of $6.56, the stock looks expensive compared with its tiny sales and heavy losses, even though it has little debt.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer