Alumis Inc. $ALMS is venBio Partners LLC’s 2nd Largest Position

venBio Partners LLC cut its position in shares of Alumis Inc. (NASDAQ:ALMS) by 2.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,528,408 shares of the company’s stock after selling 91,395 shares during the quarter. Alumis makes up about 35.6% of venBio Partners LLC’s investment portfolio, making the stock its 2nd largest position. venBio Partners LLC’s holdings in Alumis were worth $99,761,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. MPM Bioimpact LLC bought a new stake in Alumis in the 4th quarter worth approximately $23,443,000. Orbimed Advisors LLC bought a new position in Alumis during the second quarter valued at approximately $5,779,000. Woodline Partners LP raised its stake in shares of 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 acquiring an additional 1,558,660 shares in the last quarter. Samsara Biocapital LLC raised its stake in shares of Alumis by 47.0% during the second quarter. Samsara Biocapital LLC now owns 4,801,370 shares of the company’s stock worth $14,404,000 after acquiring an additional 1,534,872 shares in the last quarter. Finally, Cormorant Asset Management LP lifted its holdings in shares of 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 acquiring an additional 1,488,200 shares during the last quarter.

Insider Activity

In other news, insider Sanam Pangali sold 5,000 shares of Alumis stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $28.00, for a total transaction of $140,000.00. Following the completion of the transaction, the insider directly owned 11,111 shares in the company, valued at approximately $311,108. This trade 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 accessible through the SEC website. Insiders own 33.70% of the company’s stock.

Alumis Price Performance

Shares of Alumis stock opened at $27.08 on Tuesday. The company has a 50-day moving average of $24.62 and a 200 day moving average of $24.91. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of -13.68 and a beta of -0.73. Alumis Inc. has a 1 year low of $3.75 and a 1 year high of $31.35.

Alumis (NASDAQ:ALMS) last issued its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $2.10 million. On average, equities analysts anticipate that Alumis Inc. will post -2.87 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ALMS. Wells Fargo & Company upped their price objective 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. Oppenheimer boosted their price target on shares of Alumis from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Monday, March 30th. HC Wainwright lowered shares of Alumis from a “buy” rating to a “neutral” rating and set a $25.00 price target for the company. in a research report on Friday, May 15th. Citigroup reaffirmed a “buy” rating on shares of Alumis in a research note on Tuesday, May 19th. Finally, Chardan Capital raised their price target on Alumis from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Alumis has a consensus rating of “Moderate Buy” and an average price target of $40.30.

Alumis 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.