Principal Financial Group Inc. Acquires Shares of 1,058,051 Alumis Inc. $ALMS

Key Points

• Principal Financial Group opened a new position in Alumis during the first quarter, buying 1,058,051 shares valued at about $23.3 million. The stake represented roughly 0.83% of the company.
• Alumis’ latest quarterly results showed a small earnings miss, with EPS of -$0.74 versus expectations of -$0.73, and revenue of $1.74 million below the $2.10 million forecast. Analysts still expect the company to post a full-year loss of -$2.87 per share.
• Analyst sentiment remains mixed but generally positive: the stock carries an average “Moderate Buy” rating with an average price target of $40.30. Recent rating changes included both upgrades and downgrades, highlighting some uncertainty around the name.

Principal Financial Group Inc. bought a new position in shares of Alumis Inc. (NASDAQ:ALMS - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,058,051 shares of the company's stock, valued at approximately $23,309,000. Principal Financial Group Inc. owned approximately 0.83% of Alumis as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Strs Ohio raised its holdings in Alumis by 300.0% in the 1st quarter. Strs Ohio now owns 2,000 shares of the company's stock worth $44,000 after purchasing an additional 1,500 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Alumis by 26.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,724 shares of the company's stock valued at $46,000 after purchasing an additional 979 shares during the period. Russell Investments Group Ltd. increased its position in shares of Alumis by 320.9% in the third quarter. Russell Investments Group Ltd. now owns 6,419 shares of the company's stock valued at $26,000 after buying an additional 4,894 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Alumis in the first quarter valued at approximately $190,000. Finally, SmartHarvest Portfolios LLC acquired a new position in shares of Alumis during the 1st quarter worth approximately $212,000.

Alumis Price Performance

ALMS opened at $27.98 on Tuesday. The firm has a market capitalization of $3.57 billion, a price-to-earnings ratio of -14.13 and a beta of -0.73. The company's 50 day simple moving average is $24.12 and its two-hundred day simple moving average is $24.28. Alumis Inc. has a 1-year low of $3.24 and a 1-year high of $31.35.

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). Alumis had a negative net margin of 2,825.70% and a negative return on equity of 88.79%. The company had revenue of $1.74 million during the quarter, compared to analysts' expectations of $2.10 million. On average, equities analysts anticipate that Alumis Inc. will post -2.87 earnings per share for the current fiscal year.

Insider Transactions at Alumis

In other Alumis news, insider Sanam Pangali sold 5,000 shares of the company's stock in a transaction 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 directly owned 11,111 shares in the company, valued at $311,108. This represents a 31.03% decrease in their position. 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 currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Wall Street Zen cut shares of Alumis from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. Chardan Capital upped their price objective on shares of Alumis from $38.00 to $40.00 and gave the stock a "buy" rating in a research report on Tuesday, May 19th. HC Wainwright downgraded shares of Alumis from a "buy" rating to a "neutral" rating and set a $25.00 price objective on the stock. in a report on Friday, May 15th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Alumis in a research report on Tuesday, July 7th. Finally, Citigroup reissued a "buy" rating on shares of Alumis in a research note on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Alumis has an average rating of "Moderate Buy" and an average price target of $40.30.

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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