392,574 Shares in Alumis Inc. $ALMS Acquired by Spruce Street Capital LP

Spruce Street Capital LP bought a new stake in Alumis Inc. (NASDAQ:ALMS) in the second quarter, HoldingsChannel reports. The fund bought 392,574 shares of the company’s stock, valued at approximately $11,047,032,000. Alumis accounts for 2.2% of Spruce Street Capital LP’s portfolio, making the stock its 15th biggest position.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Russell Investments Group Ltd. raised its stake in Alumis by 320.9% during the third quarter. Russell Investments Group Ltd. now owns 6,419 shares of the company’s stock worth $26,000 after purchasing an additional 4,894 shares during the period. New York State Common Retirement Fund grew its stake in shares of Alumis by 173.7% during the 2nd quarter. New York State Common Retirement Fund now owns 11,767 shares of the company’s stock valued at $35,000 after buying an additional 7,467 shares during the period. KBC Group NV acquired a new stake in shares of Alumis during the 1st quarter worth $42,000. Strs Ohio increased its holdings in shares of Alumis by 300.0% during the 1st quarter. Strs Ohio now owns 2,000 shares of the company’s stock worth $44,000 after buying an additional 1,500 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Alumis by 26.1% in the 4th 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 during the period.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ALMS. Guggenheim lifted their target price on Alumis from $32.00 to $34.00 and gave the company a “buy” rating in a report on Friday, May 15th. Wells Fargo & Company raised their price objective on Alumis from $49.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday, May 15th. Chardan Capital lifted their price objective on Alumis from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, May 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alumis in a report on Tuesday, July 7th. Finally, Morgan Stanley reissued an “overweight” rating and set a $39.00 target price on shares of Alumis in a research report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $40.30.

Insider Buying and Selling at Alumis

In related news, insider Jorn Drappa sold 2,447 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $26.37, for a total transaction of $64,527.39. Following the transaction, the insider directly owned 56,892 shares of the company’s stock, valued at approximately $1,500,242.04. The trade was a 4.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Roy C. Hardiman sold 2,692 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $26.37, for a total value of $70,988.04. Following the transaction, the insider directly owned 207,746 shares in the company, valued at $5,478,262.02. This trade represents a 1.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 19,953 shares of company stock worth $534,311. Insiders own 33.70% of the company’s stock.

Alumis Trading Down 4.7%

Shares of Alumis stock opened at $23.03 on Tuesday. Alumis Inc. has a twelve month low of $3.76 and a twelve month high of $31.35. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of -5.97 and a beta of -0.69. The company has a fifty day moving average price of $26.53 and a 200 day moving average price of $25.16.

Alumis (NASDAQ:ALMS) last released 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 during the quarter, compared to analysts’ expectations of $3.65 million. Alumis had a negative net margin of 5,933.46% and a negative return on equity of 93.15%. Analysts forecast that Alumis Inc. will post -2.95 earnings per share for the current 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.