Orbimed Advisors LLC lowered its stake in Alumis Inc. (NASDAQ:ALMS – Free Report) by 50.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 548,163 shares of the company’s stock after selling 554,567 shares during the quarter. Orbimed Advisors LLC’s holdings in Alumis were worth $12,076,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the stock. Samsara Biocapital LLC boosted its stake in Alumis by 19.9% during the fourth quarter. Samsara Biocapital LLC now owns 5,756,984 shares of the company’s stock worth $56,188,000 after acquiring an additional 955,614 shares in the last quarter. Vanguard Group Inc. grew its holdings in Alumis by 18.4% in the third quarter. Vanguard Group Inc. now owns 4,029,615 shares of the company’s stock worth $16,078,000 after purchasing an additional 625,404 shares during the period. Cormorant Asset Management LP increased its stake in 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 purchasing an additional 1,488,200 shares in the last quarter. Octagon Capital Advisors LP increased its stake in Alumis by 11.9% in the first quarter. Octagon Capital Advisors LP now owns 2,830,700 shares of the company’s stock valued at $62,360,000 after purchasing an additional 300,000 shares in the last quarter. Finally, MPM Bioimpact LLC acquired a new position in shares of Alumis during the fourth quarter valued at about $23,443,000.
Insider Transactions at Alumis
In other Alumis news, insider Sanam Pangali sold 5,000 shares of Alumis 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 completion of the transaction, the insider owned 11,111 shares in the company, valued at approximately $311,108. The trade was a 31.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 33.70% of the company’s stock.
Alumis Stock Performance
Alumis (NASDAQ:ALMS – Get Free Report) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.01). The business had revenue of $1.74 million for the quarter, compared to analyst estimates of $2.10 million. Alumis had a negative net margin of 2,825.70% and a negative return on equity of 88.79%. As a group, equities analysts forecast that Alumis Inc. will post -2.87 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on ALMS shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Alumis in a research report on Tuesday, July 7th. Chardan Capital boosted their target price on Alumis from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, May 19th. Morgan Stanley reaffirmed an “overweight” rating and set a $39.00 price target on shares of Alumis in a research note on Friday, May 15th. Wall Street Zen lowered Alumis from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Guggenheim raised their price objective on Alumis from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Friday, May 15th. One 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 assigned a Sell rating to the company. According to data from MarketBeat.com, Alumis has an average rating of “Moderate Buy” and an average price target of $40.30.
Get Our Latest Stock Report on Alumis
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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