Spruce Street Capital LP Invests $11.05 Billion in Alumis Inc. $ALMS

Spruce Street Capital LP acquired a new stake in Alumis Inc. (NASDAQ:ALMS) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 392,574 shares of the company’s stock, valued at approximately $11,047,032,000. Alumis makes up approximately 2.2% of Spruce Street Capital LP’s investment portfolio, making the stock its 15th biggest holding. Spruce Street Capital LP owned 0.31% of Alumis as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. California State Teachers Retirement System grew its position in Alumis by 2,222.5% during the first quarter. California State Teachers Retirement System now owns 80,845 shares of the company’s stock worth $1,781,000 after buying an additional 77,364 shares during the period. First Trust Advisors LP acquired a new stake in shares of Alumis during the 1st quarter valued at approximately $1,456,000. The Manufacturers Life Insurance Company lifted its position in shares of Alumis by 775.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 154,634 shares of the company’s stock valued at $3,407,000 after acquiring an additional 136,973 shares during the period. Swiss National Bank purchased a new stake in shares of Alumis during the 1st quarter worth approximately $2,815,000. Finally, Elmind Capital LP purchased a new stake in shares of Alumis during the 1st quarter worth approximately $2,864,000.

Insider Activity

In other Alumis news, insider Mark Christopher Bradley sold 2,572 shares of Alumis stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $26.37, for a total value of $67,823.64. Following the completion of the sale, the insider directly owned 48,533 shares of the company’s stock, valued at approximately $1,279,815.21. The trade was a 5.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sanam Pangali sold 1,364 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $26.37, for a total value of $35,968.68. Following the completion of the transaction, the insider owned 9,747 shares of the company’s stock, valued at $257,028.39. This trade represents a 12.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 19,953 shares of company stock valued at $534,311 in the last 90 days. Insiders own 33.70% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on ALMS shares. HC Wainwright reaffirmed a “neutral” rating and issued a $25.00 price objective on shares of Alumis in a research note on Friday, August 14th. Morgan Stanley reissued an “overweight” rating and issued a $39.00 target price on shares of Alumis in a report on Friday, May 15th. Chardan Capital raised their price target on Alumis from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, May 19th. Wells Fargo & Company lifted their price target on Alumis from $49.00 to $51.00 and gave the stock an “overweight” rating in a research note on Friday, May 15th. Finally, Wall Street Zen upgraded shares of Alumis from a “strong sell” rating to a “hold” rating in a research report on Sunday. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Alumis has a consensus rating of “Moderate Buy” and an average target price of $40.30.

Alumis Trading Down 4.7%

NASDAQ:ALMS opened at $23.03 on Tuesday. Alumis Inc. has a 12-month low of $3.76 and a 12-month high of $31.35. The firm has a market cap of $2.98 billion, a price-to-earnings ratio of -5.97 and a beta of -0.69. The company’s 50-day moving average is $26.53 and its two-hundred day moving average is $25.16.

Alumis (NASDAQ:ALMS) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($1.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.34). The firm had revenue of $1.66 million for the quarter, compared to analysts’ expectations of $3.65 million. Alumis had a negative return on equity of 93.15% and a negative net margin of 5,933.46%. On average, equities research analysts forecast that Alumis Inc. will post -2.95 earnings per share for the current fiscal 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.