venBio Partners LLC Decreases Stock Position in Alumis Inc. $ALMS

Key Points

• venBio Partners reduced its Alumis stake by 2%, selling 91,395 shares and retaining 4.53 million shares worth approximately $99.8 million, or 3.56% of the company.
• Several institutional investors increased or initiated positions, including Woodline Partners, Samsara Biocapital, Cormorant Asset Management, MPM Bioimpact, and OrbiMed Advisors.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $40.30, although Alumis recently missed quarterly earnings and revenue expectations.

venBio Partners LLC decreased its stake in shares of Alumis Inc. (NASDAQ:ALMS - Free Report) by 2.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 4,528,408 shares of the company's stock after selling 91,395 shares during the period. Alumis accounts for 35.6% of venBio Partners LLC's investment portfolio, making the stock its 2nd largest position. venBio Partners LLC owned about 3.56% of Alumis worth $99,761,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the stock. MPM Bioimpact LLC purchased a new position in Alumis during the 4th quarter valued at about $23,443,000. Orbimed Advisors LLC purchased a new stake in shares of Alumis in the second quarter worth about $5,779,000. Woodline Partners LP lifted its holdings in shares of Alumis by 809.7% in the third quarter. Woodline Partners LP now owns 1,751,150 shares of the company's stock worth $6,987,000 after buying an additional 1,558,660 shares in the last quarter. Samsara Biocapital LLC boosted its position in shares of Alumis by 47.0% in the second quarter. Samsara Biocapital LLC now owns 4,801,370 shares of the company's stock valued at $14,404,000 after acquiring an additional 1,534,872 shares during the period. Finally, Cormorant Asset Management LP boosted its position in shares of Alumis by 69.3% in the fourth quarter. Cormorant Asset Management LP now owns 3,635,596 shares of the company's stock valued at $35,483,000 after acquiring an additional 1,488,200 shares during the period.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of Alumis from $49.00 to $51.00 and gave the stock an "overweight" rating in a report on Friday, May 15th. Weiss Ratings reissued a "sell (d-)" rating on shares of Alumis in a report on Tuesday, July 7th. Guggenheim boosted their price target on shares of Alumis from $32.00 to $34.00 and gave the company a "buy" rating in a research report on Friday, May 15th. Wall Street Zen cut shares of Alumis from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. Finally, Chardan Capital increased their price objective on 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 issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $40.30.

Alumis Trading Down 3.3%

Shares of NASDAQ ALMS opened at $27.08 on Tuesday. The business has a 50-day moving average of $24.62 and a 200-day moving average of $24.91. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of -13.68 and a beta of -0.73. Alumis Inc. has a 12 month low of $3.75 and a 12 month high of $31.35.

Alumis (NASDAQ:ALMS - Get Free Report) last announced its earnings results on Thursday, May 14th. The company reported ($0.74) earnings per share 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, analysts predict that Alumis Inc. will post -2.87 earnings per share for the current year.

Insider Buying and Selling at Alumis

In other news, insider Sanam Pangali sold 5,000 shares of the firm'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 sale, the insider owned 11,111 shares in the company, valued at approximately $311,108. This trade represents a 31.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 33.70% of the company's stock.

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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