Algert Global LLC Lowers Stock Holdings in Alumis Inc. $ALMS

Key Points

• Algert Global reduced its Alumis stake by 63.4% in the second quarter, selling 100,056 shares and retaining 57,770 shares valued at approximately $1.63 million.
• Alumis reported a quarterly loss of $1.11 per share, worse than the $0.77 analyst consensus, while revenue of $1.66 million fell short of estimates of $3.65 million.
• Despite weak results and recent insider selling, analysts maintain a “Moderate Buy” consensus with an average price target of $40.30, well above the stock’s reported $22.38 price.

Algert Global LLC cut its position in Alumis Inc. (NASDAQ:ALMS - Free Report) by 63.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,770 shares of the company's stock after selling 100,056 shares during the quarter. Algert Global LLC's holdings in Alumis were worth $1,626,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. California State Teachers Retirement System increased 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 worth $1,781,000 after buying an additional 77,364 shares during the period. First Trust Advisors LP purchased a new position in Alumis in the 1st quarter valued at approximately $1,456,000. The Manufacturers Life Insurance Company boosted 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 valued at $3,407,000 after buying an additional 136,973 shares during the period. Swiss National Bank acquired a new position in shares of Alumis in the first quarter worth $2,815,000. Finally, Elmind Capital LP acquired a new position in shares of Alumis in the first quarter worth $2,864,000.

Alumis Price Performance

NASDAQ ALMS opened at $22.38 on Friday. The company has a fifty day moving average of $26.55 and a two-hundred day moving average of $25.09. The company has a market capitalization of $2.90 billion, a PE ratio of -5.80 and a beta of -0.69. Alumis Inc. has a 1 year low of $3.76 and a 1 year high of $31.35.

Alumis (NASDAQ:ALMS - Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported ($1.11) EPS for the quarter, missing analysts' consensus estimates of ($0.77) by ($0.34). The firm had revenue of $1.66 million for the quarter, compared to analyst estimates of $3.65 million. Alumis had a negative return on equity of 93.15% and a negative net margin of 5,933.46%. On average, research analysts expect that Alumis Inc. will post -2.95 earnings per share for the current year.

Analyst Ratings Changes

ALMS has been the topic of several analyst reports. Citigroup reiterated a "neutral" rating on shares of Alumis in a research note on Monday, August 17th. Wall Street Zen raised Alumis from a "strong sell" rating to a "hold" rating in a research note on Sunday, August 23rd. Guggenheim upped their price target on Alumis from $32.00 to $34.00 and gave the stock a "buy" rating in a report on Friday, May 15th. Wells Fargo & Company increased their price target on Alumis from $49.00 to $51.00 and gave the company an "overweight" rating in a research report on Friday, May 15th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Alumis in a research note on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $40.30.

Insider Activity at Alumis

In other Alumis news, insider Sanam Pangali sold 5,000 shares of the business's stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $28.00, for a total value of $140,000.00. Following the completion of the sale, the insider owned 11,111 shares in the company, valued at approximately $311,108. The trade was a 31.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David M. Goldstein sold 2,596 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $26.37, for a total value of $68,456.52. Following the completion of the sale, the insider directly owned 30,970 shares of the company's stock, valued at $816,678.90. The trade was a 7.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 19,953 shares of company stock valued at $534,311 over the last 90 days. 33.70% of the stock is owned by insiders.

Alumis Company 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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