Elmind Capital LP Purchases New Shares in Alumis Inc. $ALMS

Key Points

• Elmind Capital LP acquired 130,000 Alumis shares worth approximately $2.86 million, representing about 0.10% of the company and 0.8% of the fund’s holdings.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $40.30, above the stock’s reported $27.08 opening price.
• Alumis recently reported a quarterly loss of $0.74 per share and revenue of $1.74 million, both slightly below expectations, while analysts project a full-year loss of $2.87 per share.

Elmind Capital LP bought a new position in shares of Alumis Inc. (NASDAQ:ALMS - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 130,000 shares of the company's stock, valued at approximately $2,864,000. Alumis accounts for about 0.8% of Elmind Capital LP's holdings, making the stock its 24th largest holding. Elmind Capital LP owned approximately 0.10% of Alumis at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its holdings in shares of 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 increased 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 acquiring an additional 7,467 shares during the last quarter. KBC Group NV purchased a new position in shares of Alumis during the 1st quarter worth about $42,000. Strs Ohio lifted 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 acquiring an additional 1,500 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted 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 acquiring an additional 979 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ALMS shares. Oppenheimer boosted their target price on shares of Alumis from $50.00 to $55.00 and gave the company an "outperform" rating in a report on Monday, March 30th. HC Wainwright cut shares of Alumis from a "buy" rating to a "neutral" rating and set a $25.00 price objective for the company. in a research note on Friday, May 15th. Morgan Stanley reaffirmed an "overweight" rating and issued a $39.00 target price on shares of Alumis in a research report on Friday, May 15th. Chardan Capital lifted their target price on Alumis from $38.00 to $40.00 and gave the company a "buy" rating in a report on Tuesday, May 19th. Finally, Citigroup reissued a "buy" rating on shares of Alumis in a research report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Alumis currently has a consensus rating of "Moderate Buy" and an average price target of $40.30.

Alumis Stock Down 3.3%

ALMS opened at $27.08 on Tuesday. Alumis Inc. has a 52-week low of $3.75 and a 52-week high of $31.35. The company has a 50 day moving average of $24.62 and a two-hundred day moving average of $24.91. The company has a market cap of $3.45 billion, a P/E ratio of -13.68 and a beta of -0.73.

Alumis (NASDAQ:ALMS - Get Free Report) last issued its earnings results on Thursday, May 14th. The company reported ($0.74) 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 business had revenue of $1.74 million during the quarter, compared to analysts' expectations of $2.10 million. Research analysts anticipate that Alumis Inc. will post -2.87 earnings per share for the current year.

Insiders Place Their Bets

In other Alumis news, insider Sanam Pangali sold 5,000 shares of the stock in a transaction that occurred on Monday, July 6th. The shares were 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 of the company's stock, valued at $311,108. This trade represents a 31.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 33.70% of the stock is currently owned by corporate 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.

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.