Handelsbanken Fonder AB bought a new stake in Alumis Inc. (NASDAQ:ALMS – Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 36,400 shares of the company’s stock, valued at approximately $1,024,000.
Several other hedge funds have also made changes to their positions in the company. KBC Group NV acquired a new stake in shares of Alumis during the 1st quarter worth approximately $42,000. Strs Ohio lifted its holdings in Alumis by 300.0% in the first quarter. Strs Ohio now owns 2,000 shares of the company’s stock valued at $44,000 after acquiring an additional 1,500 shares during the last quarter. State of Wyoming purchased a new position in Alumis in the first quarter worth approximately $57,000. EverSource Wealth Advisors LLC grew its position in Alumis by 600.4% in the first quarter. EverSource Wealth Advisors LLC now owns 3,131 shares of the company’s stock worth $69,000 after acquiring an additional 2,684 shares during the period. Finally, Assetmark Inc. acquired a new stake in Alumis during the first quarter worth $92,000.
Alumis Stock Performance
Alumis stock opened at $23.99 on Thursday. The company has a market capitalization of $3.06 billion, a PE ratio of -6.22 and a beta of -0.69. Alumis Inc. has a fifty-two week low of $3.76 and a fifty-two week high of $31.35. The firm has a 50 day moving average price of $26.49 and a 200 day moving average price of $25.22.
Insider Transactions at Alumis
In related news, insider Jorn Drappa sold 2,447 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $26.37, for a total transaction of $64,527.39. Following the completion of the transaction, the insider directly owned 56,892 shares in the company, valued at $1,500,242.04. This trade represents a 4.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Roy C. Hardiman sold 2,692 shares of Alumis stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $26.37, for a total value of $70,988.04. Following the completion of the transaction, the insider directly owned 207,746 shares of the company’s stock, valued at approximately $5,478,262.02. This represents a 1.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 19,953 shares of company stock worth $534,311. 33.70% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of research firms have commented on ALMS. Chardan Capital lifted 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. HC Wainwright reiterated a “neutral” rating and set a $25.00 price target on shares of Alumis in a report on Friday, August 14th. Citigroup reissued a “neutral” rating on shares of Alumis in a research report on Monday. Weiss Ratings restated a “sell (d-)” rating on shares of Alumis in a report on Tuesday, July 7th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $39.00 target price on shares of Alumis in a research report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $40.30.
Read 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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