First Trust Advisors LP Buys Shares of 66,099 Alumis Inc. $ALMS

First Trust Advisors LP bought a new position in Alumis Inc. (NASDAQ:ALMS) during the 1st quarter, Holdings Channel.com reports. The fund bought 66,099 shares of the company’s stock, valued at approximately $1,456,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ALMS. Russell Investments Group Ltd. raised its position in Alumis by 320.9% in the third quarter. Russell Investments Group Ltd. now owns 6,419 shares of the company’s stock worth $26,000 after acquiring an additional 4,894 shares during the period. New York State Common Retirement Fund lifted its holdings in Alumis by 173.7% in the 2nd quarter. New York State Common Retirement Fund now owns 11,767 shares of the company’s stock worth $35,000 after purchasing an additional 7,467 shares in the last quarter. KBC Group NV purchased a new position in shares of Alumis in the first quarter worth $42,000. Strs Ohio lifted its stake in Alumis by 300.0% in the 1st quarter. Strs Ohio now owns 2,000 shares of the company’s stock worth $44,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Alumis by 26.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,724 shares of the company’s stock worth $46,000 after buying an additional 979 shares in the last quarter.

Insider Activity

In other Alumis news, insider Mark Christopher Bradley sold 2,572 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $26.37, for a total transaction of $67,823.64. Following the sale, the insider owned 48,533 shares of the company’s stock, valued at approximately $1,279,815.21. This trade represents a 5.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO John R. Schroer sold 3,282 shares of Alumis stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $26.37, for a total value of $86,546.34. Following the completion of the transaction, the chief financial officer owned 24,718 shares in the company, valued at $651,813.66. This represents a 11.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 19,953 shares of company stock valued at $534,311. 33.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ALMS. HC Wainwright reaffirmed a “neutral” rating and issued a $25.00 price objective on shares of Alumis in a research note on Monday, August 3rd. Guggenheim increased their target price on Alumis from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Wall Street Zen lowered shares of Alumis from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Morgan Stanley restated an “overweight” rating and issued a $39.00 price target on shares of Alumis in a research report on Friday, May 15th. Finally, Chardan Capital upped their price target on shares of Alumis from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $40.30.

Alumis Price Performance

ALMS stock opened at $27.60 on Monday. The firm’s 50-day moving average is $25.62 and its 200 day moving average is $25.27. Alumis Inc. has a 12 month low of $3.76 and a 12 month high of $31.35. The company has a market capitalization of $3.52 billion, a PE ratio of -13.94 and a beta of -0.69.

Alumis (NASDAQ:ALMS) last announced 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 firm had revenue of $1.74 million during the quarter, compared to analysts’ expectations of $2.10 million. Sell-side analysts forecast that Alumis Inc. will post -2.87 EPS 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.