Alumis Inc. (NASDAQ:ALMS) Short Interest Down 52.7% in July

Alumis Inc. (NASDAQ:ALMS) was the target of a significant drop in short interest during the month of July. As of July 15th, there was short interest totaling 6,764,417 shares, a drop of 52.7% from the June 30th total of 14,294,503 shares. Approximately 8.0% of the shares of the stock are sold short. Based on an average trading volume of 1,774,538 shares, the days-to-cover ratio is presently 3.8 days.

Wall Street Analyst Weigh In

ALMS has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their target price on Alumis from $49.00 to $51.00 and gave the company an “overweight” rating in a research report on Friday, May 15th. Citigroup reissued a “buy” rating on shares of Alumis in a report on Tuesday, May 19th. HC Wainwright lowered shares of Alumis from a “buy” rating to a “neutral” rating and set a $25.00 price target on the stock. in a report on Friday, May 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Alumis in a research note on Tuesday, July 7th. Finally, Chardan Capital raised their target price on shares of Alumis from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $40.30.

Alumis Price Performance

Shares of NASDAQ ALMS opened at $26.38 on Thursday. The company has a 50 day simple moving average of $24.82 and a 200 day simple moving average of $25.03. The firm has a market cap of $3.36 billion, a PE ratio of -13.32 and a beta of -0.73. Alumis has a 1 year low of $3.76 and a 1 year high of $31.35.

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

Insider Buying and Selling

In other Alumis news, insider Sanam Pangali sold 5,000 shares of the company’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $28.00, for a total transaction of $140,000.00. Following the completion of the sale, the insider directly owned 11,111 shares in the company, valued at $311,108. This represents a 31.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 33.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. MPM Bioimpact LLC bought a new stake in shares of Alumis in the 4th quarter valued at about $23,443,000. Janus Henderson Group PLC bought a new stake in Alumis in the first quarter valued at approximately $46,790,000. Orbimed Advisors LLC bought a new position in Alumis during the 2nd quarter worth approximately $5,779,000. Woodline Partners LP lifted its position in shares of Alumis by 809.7% in the 3rd quarter. Woodline Partners LP now owns 1,751,150 shares of the company’s stock worth $6,987,000 after purchasing an additional 1,558,660 shares during the period. Finally, Samsara Biocapital LLC boosted its stake in shares of 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 purchasing an additional 1,534,872 shares during the last quarter.

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.