Spruce Street Capital LP Invests $8.65 Million in Alumis Inc. $ALMS

Spruce Street Capital LP bought a new stake in Alumis Inc. (NASDAQ:ALMS) during the first quarter, Holdings Channel reports. The institutional investor bought 392,574 shares of the company’s stock, valued at approximately $8,648,000. Alumis comprises 2.1% of Spruce Street Capital LP’s holdings, making the stock its 18th largest position.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Principal Financial Group Inc. acquired a new stake in Alumis during the 1st quarter worth $23,309,000. 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 during the period. PSP Research LLC purchased a new stake in shares of Alumis in the fourth quarter valued at about $427,000. Grange Capital LLC purchased a new stake in shares of Alumis in the fourth quarter valued at about $312,000. Finally, Los Angeles Capital Management LLC boosted its stake in shares of Alumis by 32.9% during the fourth quarter. Los Angeles Capital Management LLC now owns 163,084 shares of the company’s stock worth $1,592,000 after buying an additional 40,383 shares during the period.

Insider Activity

In related news, insider Sanam Pangali sold 5,000 shares of the firm’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $28.00, for a total value of $140,000.00. Following the completion of the sale, the insider owned 11,111 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this link. 33.70% of the stock is owned by corporate insiders.

Alumis Stock Performance

NASDAQ:ALMS opened at $28.00 on Friday. The stock has a fifty day moving average price of $24.50 and a two-hundred day moving average price of $24.72. The stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of -14.14 and a beta of -0.73. Alumis Inc. has a 1 year low of $3.75 and a 1 year high of $31.35.

Alumis (NASDAQ:ALMS) last released its earnings results on Thursday, May 14th. The company reported ($0.74) EPS 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, analysts predict that Alumis Inc. will post -2.87 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Citigroup reissued a “buy” rating on shares of Alumis in a report on Tuesday, May 19th. Chardan Capital upped their price objective on Alumis from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, May 19th. Morgan Stanley reaffirmed an “overweight” rating and set a $39.00 price objective on shares of Alumis in a research report on Friday, May 15th. Oppenheimer lifted their target price on Alumis from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Monday, March 30th. Finally, Wells Fargo & Company boosted their target price on Alumis from $49.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, May 15th. One investment 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’s stock. According to data from MarketBeat.com, Alumis currently has a consensus rating of “Moderate Buy” and an average target price of $40.30.

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.