Spruce Street Capital LP Buys Shares of 392,574 Alumis Inc. $ALMS

Spruce Street Capital LP purchased a new position in shares of Alumis Inc. (NASDAQ:ALMS) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 392,574 shares of the company’s stock, valued at approximately $8,648,000. Alumis accounts for about 2.1% of Spruce Street Capital LP’s investment portfolio, making the stock its 18th largest holding. Spruce Street Capital LP owned about 0.31% of Alumis as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. KBC Group NV acquired a new position in shares of Alumis in the first quarter valued at approximately $42,000. Strs Ohio increased its stake in Alumis by 300.0% during the 1st quarter. Strs Ohio now owns 2,000 shares of the company’s stock worth $44,000 after buying an additional 1,500 shares during the period. State of Wyoming acquired a new stake in Alumis during the 1st quarter worth approximately $57,000. Assetmark Inc. acquired a new stake in Alumis during the 1st quarter worth approximately $92,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Alumis by 26.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,724 shares of the company’s stock valued at $46,000 after buying an additional 979 shares during the period.

Analyst Ratings Changes

Several equities analysts have commented on ALMS shares. Wall Street Zen downgraded shares of Alumis from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. 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. Oppenheimer boosted their target price on Alumis from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Monday, March 30th. Guggenheim upped their price target on Alumis from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Finally, Wells Fargo & Company increased their price target on Alumis from $49.00 to $51.00 and gave the company an “overweight” rating in a research report on Friday, May 15th. One equities research 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $40.30.

Alumis Trading Down 1.1%

Shares of ALMS stock opened at $28.00 on Friday. The company has a market cap of $3.57 billion, a P/E ratio of -14.14 and a beta of -0.73. The firm has a fifty day moving average price of $24.50 and a 200 day moving average price of $24.72. Alumis Inc. has a 12 month low of $3.75 and a 12 month high of $31.35.

Alumis (NASDAQ:ALMS) last posted its quarterly 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 business had revenue of $1.74 million during the quarter, compared to analyst estimates of $2.10 million. On average, equities analysts forecast that Alumis Inc. will post -2.87 EPS for the current year.

Insider Activity

In other Alumis news, insider Sanam Pangali sold 5,000 shares of the firm’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $28.00, for a total transaction of $140,000.00. Following the transaction, the insider owned 11,111 shares of the company’s stock, valued at approximately $311,108. This trade represents a 31.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 33.70% of the company’s stock.

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.