BlackRock Inc. Invests $231.26 Million in Alumis Inc. $ALMS

BlackRock Inc. bought a new position in shares of Alumis Inc. (NASDAQ:ALMS) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 8,218,151 shares of the company’s stock, valued at approximately $231,259,000. BlackRock Inc. owned about 0.06% of Alumis at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. KBC Group NV acquired a new stake in Alumis in 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 buying an additional 1,500 shares during the last quarter. State of Wyoming acquired a new position in shares of Alumis during the 1st quarter worth about $57,000. EverSource Wealth Advisors LLC grew its holdings in shares of Alumis by 600.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,131 shares of the company’s stock valued at $69,000 after acquiring an additional 2,684 shares in the last quarter. Finally, Assetmark Inc. bought a new position in shares of Alumis in the 1st quarter valued at about $92,000.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. 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. Citigroup reissued a “neutral” rating on shares of Alumis in a research report on Monday, August 17th. Guggenheim raised their price target on Alumis from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alumis in a research report on Tuesday, July 7th. Finally, HC Wainwright reiterated a “neutral” rating and set a $25.00 price objective on shares of Alumis in a research note on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $40.30.

Insider Activity at Alumis

In other Alumis news, insider Sanam Pangali sold 5,000 shares of the firm’s stock in a transaction on 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 in the company, valued at $311,108. This trade represents a 31.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark Christopher Bradley sold 2,572 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $26.37, for a total value of $67,823.64. Following the transaction, the insider owned 48,533 shares in the company, valued at approximately $1,279,815.21. This trade represents a 5.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 19,953 shares of company stock valued at $534,311. 33.70% of the stock is currently owned by company insiders.

Alumis Stock Down 1.7%

Shares of NASDAQ:ALMS opened at $23.21 on Friday. Alumis Inc. has a 12-month low of $3.76 and a 12-month high of $31.35. The stock has a market cap of $3.00 billion, a PE ratio of -6.01 and a beta of -0.69. The business has a 50 day moving average of $26.57 and a 200-day moving average of $25.11.

Alumis (NASDAQ:ALMS) last announced its earnings results on Thursday, August 13th. The company reported ($1.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.34). The firm had revenue of $1.66 million for the quarter, compared to the consensus estimate of $3.65 million. Alumis had a negative return on equity of 93.15% and a negative net margin of 5,933.46%. Equities research analysts expect that Alumis Inc. will post -2.95 earnings per share for the current year.

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.