166,959 Shares in Alumis Inc. $ALMS Purchased by Ally Bridge Group NY LLC

Ally Bridge Group NY LLC acquired a new position in Alumis Inc. (NASDAQ:ALMS - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 166,959 shares of the company's stock, valued at approximately $3,678,000. Alumis makes up about 3.0% of Ally Bridge Group NY LLC's investment portfolio, making the stock its 16th biggest holding. Ally Bridge Group NY LLC owned approximately 0.13% of Alumis as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ALMS. Russell Investments Group Ltd. grew its holdings in Alumis by 320.9% during the 3rd 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 in the last quarter. New York State Common Retirement Fund boosted its position in 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 acquiring an additional 7,467 shares in the last quarter. KBC Group NV bought a new stake in Alumis during the 1st quarter valued at $42,000. Strs Ohio increased its holdings in shares of Alumis by 300.0% in the 1st quarter. Strs Ohio now owns 2,000 shares of the company's stock valued at $44,000 after acquiring an additional 1,500 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings 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 valued at $46,000 after acquiring an additional 979 shares during the period.

Analyst Upgrades and Downgrades

ALMS has been the topic of several analyst reports. Morgan Stanley reiterated an "overweight" rating and issued a $39.00 target price on shares of Alumis in a research note on Friday, May 15th. Wells Fargo & Company raised their target price 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. HC Wainwright lowered shares of Alumis from a "buy" rating to a "neutral" rating and set a $25.00 price target on the stock. in a report on Friday, May 15th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Alumis in a research report on Tuesday, July 7th. Finally, Chardan Capital increased their price objective on Alumis from $38.00 to $40.00 and gave the company a "buy" rating in a report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $40.30.

Insider Activity at Alumis

In other news, insider Sanam Pangali sold 5,000 shares of the company's stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $28.00, for a total value of $140,000.00. Following the sale, the insider owned 11,111 shares in the company, valued at $311,108. This represents a 31.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 33.70% of the stock is owned by insiders.

Alumis Price Performance

Shares of ALMS stock opened at $27.03 on Wednesday. Alumis Inc. has a 1 year low of $3.76 and a 1 year high of $31.35. The business has a fifty day moving average of $24.73 and a 200 day moving average of $24.98. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of -13.65 and a beta of -0.73.

Alumis (NASDAQ:ALMS - Get Free Report) last posted 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). The business had revenue of $1.74 million for the quarter, compared to analysts' expectations of $2.10 million. Alumis had a negative return on equity of 88.79% and a negative net margin of 2,825.70%. As a group, equities research analysts expect that Alumis Inc. will post -2.87 earnings per share for the current year.

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.

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