Profund Advisors LLC Acquires 143,998 Shares of Alumis Inc. $ALMS

Profund Advisors LLC grew its holdings in Alumis Inc. (NASDAQ:ALMS) by 1,010.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 158,249 shares of the company’s stock after acquiring an additional 143,998 shares during the quarter. Profund Advisors LLC owned 0.12% of Alumis worth $1,169,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of ALMS. California State Teachers Retirement System raised its stake in Alumis by 2,222.5% during the 1st quarter. California State Teachers Retirement System now owns 80,845 shares of the company’s stock valued at $1,781,000 after purchasing an additional 77,364 shares during the last quarter. First Trust Advisors LP bought a new stake in Alumis in the 1st quarter valued at $1,456,000. Spruce Street Capital LP bought a new stake in Alumis in the 2nd quarter valued at $11,047,032. The Manufacturers Life Insurance Company grew its position in Alumis by 775.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 154,634 shares of the company’s stock worth $3,407,000 after purchasing an additional 136,973 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Alumis in the 2nd quarter worth $6,377,000.

Insiders Place Their Bets

In related news, Director Srinivas Akkaraju sold 96,131 shares of the company’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $10.55, for a total value of $1,014,182.05. Following the sale, the director owned 2,025,493 shares of the company’s stock, valued at $21,368,951.15. The trade was a 4.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 33.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ALMS shares. Citigroup restated an “overweight” rating on shares of Alumis in a report on Tuesday, September 1st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Alumis in a research note on Wednesday, September 16th. Oppenheimer decreased their target price on Alumis from $55.00 to $37.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 2nd. Wall Street Zen lowered Alumis from a “hold” rating to a “sell” rating in a research note on Saturday, September 5th. Finally, Robert W. Baird set a $27.00 price target on Alumis in a research note on Tuesday, September 1st. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Alumis has a consensus rating of “Moderate Buy” and an average price target of $33.27.

Alumis Trading Up 1.9%

ALMS opened at $6.50 on Wednesday. Alumis Inc. has a fifty-two week low of $4.40 and a fifty-two week high of $31.35. The firm’s fifty day moving average price is $9.17 and its two-hundred day moving average price is $21.23.

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

Alumis Profile

Alumis (NASDAQ: ALMS) is a clinical-stage biopharmaceutical company focused on developing oral therapies for immune-mediated diseases. The company’s research is centered on selective modulation of the immune system, with the goal of providing effective, convenient treatments that may address conditions inadequately served by existing therapies.

Its lead product candidate, ESK-001, is an investigational oral allosteric tyrosine kinase 2 (TYK2) inhibitor designed to selectively regulate signaling pathways involved in inflammatory and autoimmune diseases.