Octagon Capital Advisors LP raised its holdings in shares of Alumis Inc. (NASDAQ:ALMS – Free Report) by 11.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,830,700 shares of the company’s stock after buying an additional 300,000 shares during the period. Alumis comprises approximately 6.9% of Octagon Capital Advisors LP’s investment portfolio, making the stock its 4th biggest position. Octagon Capital Advisors LP owned approximately 2.23% of Alumis worth $62,360,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in ALMS. KBC Group NV acquired a new stake in shares of Alumis during the 1st quarter valued at $42,000. Strs Ohio boosted its stake in shares of Alumis by 300.0% during the 1st quarter. Strs Ohio now owns 2,000 shares of the company’s stock worth $44,000 after acquiring an additional 1,500 shares in the last quarter. State of Wyoming acquired a new position in shares of Alumis in the 1st quarter worth $57,000. Assetmark Inc. acquired a new position in shares of Alumis in the 1st quarter worth $92,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Alumis by 26.1% during 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 during the period.
Alumis Stock Performance
ALMS opened at $28.00 on Monday. The stock has a fifty day moving average price of $24.50 and a 200 day moving average price of $24.84. Alumis Inc. has a 1 year low of $3.75 and a 1 year high of $31.35. The stock has a market cap of $3.57 billion, a price-to-earnings ratio of -14.14 and a beta of -0.73.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of Alumis from $49.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, May 15th. Morgan Stanley reaffirmed an “overweight” rating and issued a $39.00 price objective on shares of Alumis in a research note on Friday, May 15th. Chardan Capital lifted 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. Weiss Ratings reissued a “sell (d-)” rating on shares of Alumis in a research note on Tuesday, July 7th. Finally, HC Wainwright lowered Alumis from a “buy” rating to a “neutral” rating and set a $25.00 target price for the company. in a report on Friday, May 15th. One research 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, Alumis presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.30.
Read Our Latest Stock Report on Alumis
Insider Activity at Alumis
In related news, insider Sanam Pangali sold 5,000 shares of the stock in a transaction that occurred 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 owned 11,111 shares in the company, valued at approximately $311,108. This represents a 31.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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.
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