Weiss Asset Management LP Purchases New Position in Alumis Inc. $ALMS

Weiss Asset Management LP purchased a new stake in shares of Alumis Inc. (NASDAQ:ALMS) in the first quarter, according to the company in its most recent filing with the SEC. The fund purchased 1,097,417 shares of the company’s stock, valued at approximately $24,176,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. MPM Bioimpact LLC bought a new position in shares of Alumis in the fourth quarter valued at approximately $23,443,000. Orbimed Advisors LLC bought a new stake in Alumis during the second quarter worth $5,779,000. Woodline Partners LP grew its holdings in Alumis by 809.7% during the third quarter. Woodline Partners LP now owns 1,751,150 shares of the company’s stock worth $6,987,000 after buying an additional 1,558,660 shares in the last quarter. Samsara Biocapital LLC raised its position in Alumis by 47.0% in the 2nd quarter. Samsara Biocapital LLC now owns 4,801,370 shares of the company’s stock valued at $14,404,000 after buying an additional 1,534,872 shares during the last quarter. Finally, Cormorant Asset Management LP raised its position in Alumis by 69.3% in the 4th quarter. Cormorant Asset Management LP now owns 3,635,596 shares of the company’s stock valued at $35,483,000 after buying an additional 1,488,200 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ALMS. Guggenheim raised their price objective on Alumis from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Chardan Capital increased their target price on shares of Alumis from $38.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, May 19th. Citigroup reiterated a “buy” rating on shares of Alumis in a report on Tuesday, May 19th. Oppenheimer raised their price target on shares of Alumis from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Monday, March 30th. Finally, Wells Fargo & Company upped their price objective on shares of Alumis from $49.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $40.30.

Alumis Trading Down 1.1%

Shares of Alumis stock opened at $28.00 on Friday. The business’s fifty day simple moving average is $24.50 and its 200 day simple moving average is $24.72. Alumis Inc. has a 12 month low of $3.75 and a 12 month high of $31.35. The firm has a market capitalization of $3.57 billion, a P/E ratio of -14.14 and a beta of -0.73.

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

Insider Activity at Alumis

In related news, insider Sanam Pangali sold 5,000 shares of the business’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $28.00, for a total value of $140,000.00. Following the transaction, the insider directly owned 11,111 shares of the company’s stock, valued at approximately $311,108. The trade was a 31.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 33.70% of the stock is owned by insiders.

Alumis Company Profile

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.