Spruce Street Capital LP Takes Position in Alumis Inc. $ALMS

Spruce Street Capital LP acquired a new stake in Alumis Inc. (NASDAQ:ALMS) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 392,574 shares of the company’s stock, valued at approximately $11,047,032. Alumis makes up 0.0% of Spruce Street Capital LP’s portfolio, making the stock its 15th biggest position. Spruce Street Capital LP owned about 0.31% of Alumis at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ALMS. BlackRock Inc. acquired a new stake in Alumis in the 2nd quarter valued at $231,259,000. Samsara Biocapital LLC boosted its stake in Alumis by 19.9% in the 4th quarter. Samsara Biocapital LLC now owns 5,756,984 shares of the company’s stock worth $56,188,000 after purchasing an additional 955,614 shares during the period. Vanguard Group Inc. grew its holdings in Alumis by 18.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,029,615 shares of the company’s stock worth $16,078,000 after acquiring an additional 625,404 shares in the last quarter. Cormorant Asset Management LP raised its holdings in Alumis by 69.3% in the 4th quarter. Cormorant Asset Management LP now owns 3,635,596 shares of the company’s stock worth $35,483,000 after purchasing an additional 1,488,200 shares during the period. Finally, Octagon Capital Advisors LP grew its position in shares of Alumis by 11.9% during the first quarter. Octagon Capital Advisors LP now owns 2,830,700 shares of the company’s stock worth $62,360,000 after buying an additional 300,000 shares in the last quarter.

Insiders Place Their Bets

In related news, insider Sanam Pangali sold 1,364 shares of the firm’s stock in a transaction dated 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 sale, the insider directly owned 9,747 shares in the company, valued at approximately $257,028.39. This trade represents a 12.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Mark Christopher Bradley sold 2,572 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $26.37, for a total transaction of $67,823.64. Following the transaction, the insider 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 SEC filing for this sale provides additional information. In the last ninety days, insiders sold 19,953 shares of company stock worth $534,311. Corporate insiders own 33.70% of the company’s stock.

Alumis Price Performance

Shares of ALMS traded down $0.66 during trading hours on Friday, hitting $22.55. The stock had a trading volume of 322,427 shares, compared to its average volume of 1,909,343. The stock has a fifty day moving average price of $26.57 and a 200 day moving average price of $25.11. Alumis Inc. has a 12 month low of $3.76 and a 12 month high of $31.35. The firm has a market capitalization of $2.92 billion, a PE ratio of -5.84 and a beta of -0.69.

Alumis (NASDAQ:ALMS) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($1.11) EPS for the quarter, missing the consensus estimate of ($0.77) by ($0.34). The company had revenue of $1.66 million for the quarter, compared to analyst estimates of $3.65 million. Alumis had a negative return on equity of 93.15% and a negative net margin of 5,933.46%. As a group, analysts anticipate that Alumis Inc. will post -2.95 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ALMS shares. Citigroup reissued a “neutral” rating on shares of Alumis in a research note on Monday, August 17th. Guggenheim upped their target price on shares of Alumis from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Alumis in a research note on Tuesday, July 7th. Wells Fargo & Company raised their price target on shares of Alumis from $49.00 to $51.00 and gave the company an “overweight” rating in a research note on Friday, May 15th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $39.00 price target on shares of Alumis in a report on Friday, May 15th. 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. Based on data from MarketBeat.com, Alumis currently has an average rating of “Moderate Buy” and a consensus price target of $40.30.

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.