Cormorant Asset Management LP Has $35.48 Million Position in Alumis Inc. $ALMS

Cormorant Asset Management LP lifted its stake in shares of Alumis Inc. (NASDAQ:ALMS) by 69.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,635,596 shares of the company’s stock after purchasing an additional 1,488,200 shares during the quarter. Alumis accounts for about 1.6% of Cormorant Asset Management LP’s portfolio, making the stock its 13th largest position. Cormorant Asset Management LP’s holdings in Alumis were worth $35,483,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in ALMS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Alumis by 64.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,535 shares of the company’s stock valued at $77,000 after purchasing an additional 4,926 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Alumis by 24.0% during the first quarter. Goldman Sachs Group Inc. now owns 61,645 shares of the company’s stock worth $378,000 after buying an additional 11,949 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Alumis during the first quarter worth $111,000. Rhumbline Advisers increased its holdings in shares of Alumis by 21.7% during the first quarter. Rhumbline Advisers now owns 16,543 shares of the company’s stock worth $102,000 after buying an additional 2,949 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Alumis by 163.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,167,832 shares of the company’s stock valued at $3,504,000 after acquiring an additional 724,133 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ALMS shares. Oppenheimer raised their price objective on Alumis from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Monday, March 30th. Morgan Stanley reiterated an “overweight” rating and issued a $39.00 target price on shares of Alumis in a research report on Friday, May 15th. Wall Street Zen lowered Alumis from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Chardan Capital boosted their price target on Alumis from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, May 19th. Finally, Stifel Nicolaus assumed coverage on Alumis in a research note on Wednesday, February 25th. They issued a “buy” rating and a $44.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $40.30.

Alumis Stock Up 3.3%

Shares of NASDAQ:ALMS opened at $23.05 on Thursday. The firm has a market cap of $2.94 billion, a P/E ratio of -11.64 and a beta of -0.56. Alumis Inc. has a 12-month low of $2.76 and a 12-month high of $30.60. The business has a fifty day simple moving average of $22.84 and a 200 day simple moving average of $21.61.

Alumis (NASDAQ:ALMS) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.01). The company had revenue of $1.74 million during the quarter, compared to the consensus estimate of $2.10 million. Alumis had a negative net margin of 2,825.70% and a negative return on equity of 88.79%. As a group, equities research analysts expect that Alumis Inc. will post -2.87 EPS for the current year.

About Alumis

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.