Stempoint Capital LP Buys New Stake in Alumis Inc. $ALMS

Key Points

• Stempoint Capital acquired 229,566 Alumis shares worth approximately $5.1 million, giving it a 0.18% stake. Several other institutions also initiated or increased positions during the first quarter.
• Analyst sentiment remains broadly positive: Alumis has a consensus “Moderate Buy” rating and a $40.30 target price, though ratings range from “Strong Buy” to “Sell.”
• Alumis shares opened at $26.38 after declining 2.4%; the company’s latest quarterly results missed expectations, with a $0.74 per-share loss and $1.74 million in revenue.

Stempoint Capital LP bought a new stake in Alumis Inc. (NASDAQ:ALMS - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 229,566 shares of the company's stock, valued at approximately $5,057,000. Stempoint Capital LP owned 0.18% of Alumis as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. KBC Group NV acquired a new position in Alumis during the 1st quarter worth about $42,000. Strs Ohio boosted its stake in shares of Alumis by 300.0% in the first quarter. Strs Ohio now owns 2,000 shares of the company's stock valued at $44,000 after purchasing an additional 1,500 shares during the period. State of Wyoming acquired a new position in shares of Alumis in the first quarter valued at approximately $57,000. EverSource Wealth Advisors LLC increased its stake in Alumis by 600.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,131 shares of the company's stock worth $69,000 after buying an additional 2,684 shares during the period. Finally, Assetmark Inc. acquired a new stake in Alumis during the 1st quarter worth approximately $92,000.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ALMS shares. Morgan Stanley reaffirmed an "overweight" rating and issued a $39.00 target price on shares of Alumis in a report on Friday, May 15th. Weiss Ratings restated a "sell (d-)" rating on shares of Alumis in a research note on Tuesday, July 7th. Guggenheim raised their target price on shares of Alumis from $32.00 to $34.00 and gave the stock a "buy" rating in a research report on Friday, May 15th. Wall Street Zen cut Alumis from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Alumis presently has a consensus rating of "Moderate Buy" and a consensus target price of $40.30.

Insider Buying and Selling at Alumis

In other news, insider Sanam Pangali sold 5,000 shares of the business's stock in a transaction on Monday, July 6th. The shares were sold at an average price of $28.00, for a total transaction of $140,000.00. Following the completion of the sale, the insider directly owned 11,111 shares of the company's stock, valued at $311,108. The trade was a 31.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 33.70% of the stock is currently owned by company insiders.

Alumis Trading Down 2.4%

NASDAQ:ALMS opened at $26.38 on Thursday. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of -13.32 and a beta of -0.73. The company's 50-day moving average is $24.82 and its two-hundred day moving average is $25.03. Alumis Inc. has a 12-month low of $3.76 and a 12-month high of $31.35.

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

About Alumis

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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