Weiss Asset Management LP Buys New Shares in Alumis Inc. $ALMS

Key Points

• Weiss Asset Management LP opened a new position in Alumis during the first quarter, buying 1,097,417 shares worth about $24.2 million and ending with roughly 0.86% ownership.
• Analysts are mixed but generally constructive on Alumis: the stock has an average Moderate Buy rating with a $40.30 target price, though HC Wainwright recently downgraded it to Neutral with a $25 target.
• Insider activity and operating results were weaker signals: insider Sanam Pangali sold 5,000 shares, and Alumis recently reported a quarterly EPS miss along with revenue below expectations.

Weiss Asset Management LP purchased a new stake in shares of Alumis Inc. (NASDAQ:ALMS - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,097,417 shares of the company's stock, valued at approximately $24,176,000. Weiss Asset Management LP owned about 0.86% of Alumis at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. lifted its stake in shares of Alumis by 320.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,419 shares of the company's stock valued at $26,000 after purchasing an additional 4,894 shares during the period. New York State Common Retirement Fund boosted its position 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 purchasing an additional 7,467 shares in the last quarter. KBC Group NV acquired a new stake in Alumis during the first quarter worth approximately $42,000. Strs Ohio grew its stake in Alumis by 300.0% during the first 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. Finally, Mirae Asset Global Investments Co. Ltd. increased 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 worth $46,000 after purchasing an additional 979 shares in the last quarter.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. HC Wainwright lowered Alumis from a "buy" rating to a "neutral" rating and set a $25.00 price target on the stock. in a research note on Friday, May 15th. Oppenheimer raised their price objective on shares of Alumis from $50.00 to $55.00 and gave the stock an "outperform" rating in a research report on Monday, March 30th. Chardan Capital lifted their price objective on shares of Alumis from $38.00 to $40.00 and gave the company a "buy" rating in a research note on Tuesday, May 19th. Wells Fargo & Company boosted their target price on shares of Alumis from $49.00 to $51.00 and gave the company an "overweight" rating in a research report on Friday, May 15th. Finally, Citigroup reissued a "buy" rating on shares of Alumis in a research note on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $40.30.

Insider Activity

In related news, insider Sanam Pangali sold 5,000 shares of the 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 transaction, the insider directly owned 11,111 shares in the company, valued at $311,108. This trade represents a 31.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 33.70% of the stock is currently owned by corporate insiders.

Alumis Stock Performance

ALMS stock opened at $28.00 on Friday. The stock's 50 day simple moving average is $24.50 and its 200 day simple moving average is $24.72. Alumis Inc. has a fifty-two week low of $3.75 and a fifty-two week high of $31.35. The company has a market cap of $3.57 billion, a P/E ratio of -14.14 and a beta of -0.73.

Alumis (NASDAQ:ALMS - Get Free Report) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.73) by ($0.01). The firm had revenue of $1.74 million during 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%. Equities analysts predict that Alumis Inc. will post -2.87 earnings per share for the current year.

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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