California State Teachers Retirement System Raises Stock Position in Alumis Inc. $ALMS

Key Points

• California State Teachers Retirement System increased its Alumis stake by 2,222.5% in the first quarter, holding 80,845 shares valued at approximately $1.78 million. Several other institutional investors also initiated or expanded positions.
• Alumis shares opened at $25.55, while the company reported a quarterly loss of $0.74 per share and revenue of $1.74 million, both slightly below analyst expectations.
• Analyst sentiment remains positive overall, with a “Moderate Buy” consensus and an average price target of $40.30, although insiders have sold nearly 20,000 shares worth about $534,000 over the past 90 days.

California State Teachers Retirement System boosted its holdings in shares of Alumis Inc. (NASDAQ:ALMS - Free Report) by 2,222.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 80,845 shares of the company's stock after purchasing an additional 77,364 shares during the period. California State Teachers Retirement System owned about 0.06% of Alumis worth $1,781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. First Trust Advisors LP purchased a new stake in Alumis during the first quarter valued at about $1,456,000. The Manufacturers Life Insurance Company lifted its position in Alumis by 775.6% during the first 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 in the last quarter. Swiss National Bank acquired a new position in Alumis during the first quarter valued at approximately $2,815,000. Elmind Capital LP purchased a new stake in Alumis during the first quarter worth approximately $2,864,000. Finally, Spruce Street Capital LP purchased a new stake in Alumis during the first quarter worth approximately $8,648,000.

Alumis Trading Up 0.7%

Shares of NASDAQ ALMS opened at $25.55 on Thursday. Alumis Inc. has a 12-month low of $3.76 and a 12-month high of $31.35. The stock has a 50 day simple moving average of $25.98 and a 200-day simple moving average of $25.27. The company has a market cap of $3.26 billion, a PE ratio of -12.90 and a beta of -0.69.

Alumis (NASDAQ:ALMS - Get Free Report) last announced its earnings results on Thursday, May 14th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.73) by ($0.01). The firm had revenue of $1.74 million for the quarter, compared to the consensus estimate of $2.10 million. Alumis had a negative return on equity of 88.79% and a negative net margin of 2,825.70%. Sell-side analysts forecast that Alumis Inc. will post -2.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ALMS. HC Wainwright reiterated a "neutral" rating and issued a $25.00 target price on shares of Alumis in a research note on Monday, August 3rd. Wells Fargo & Company lifted their price target on shares of Alumis from $49.00 to $51.00 and gave the stock an "overweight" rating in a research note on Friday, May 15th. Chardan Capital boosted their price objective on shares of Alumis from $38.00 to $40.00 and gave the stock a "buy" rating in a report on Tuesday, May 19th. Wall Street Zen lowered Alumis from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. Finally, Guggenheim increased their target price on Alumis from $32.00 to $34.00 and gave the company a "buy" rating in a research note on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Alumis has an average rating of "Moderate Buy" and an average target price of $40.30.

Insider Buying and Selling

In other news, insider Mark Christopher Bradley sold 2,572 shares of the business's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $26.37, for a total transaction of $67,823.64. Following the transaction, the insider directly owned 48,533 shares in the company, valued at $1,279,815.21. The trade was a 5.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider David M. Goldstein sold 2,596 shares of the business's 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 approximately $816,678.90. The trade was a 7.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 19,953 shares of company stock worth $534,311 over the last ninety days. 33.70% of the stock is currently owned by corporate insiders.

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.

Want to see what other hedge funds are holding ALMS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alumis Inc. (NASDAQ:ALMS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source