Jupiter Topco LLC Invests $66.24 Million in Alumis Inc. $ALMS

Jupiter Topco LLC acquired a new position in Alumis Inc. (NASDAQ:ALMS) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,355,122 shares of the company’s stock, valued at approximately $66,238,000.

Other institutional investors have also added to or reduced their stakes in the company. Elmind Capital LP acquired a new stake in Alumis during the 2nd quarter valued at approximately $3,658,200,000. J. Goldman & Co LP acquired a new position in shares of Alumis in the 2nd quarter worth approximately $727,000. Legal & General Group Plc acquired a new position in shares of Alumis in the 2nd quarter worth approximately $1,546,000. The Manufacturers Life Insurance Company bought a new stake in shares of Alumis in the 2nd quarter valued at $2,820,000. Finally, Spruce Street Capital LP acquired a new stake in shares of Alumis during the second quarter worth $11,047,032,000.

Alumis Stock Down 1.7%

Alumis stock opened at $23.21 on Friday. The company has a market capitalization of $3.00 billion, a PE ratio of -6.01 and a beta of -0.69. Alumis Inc. has a 12-month low of $3.76 and a 12-month high of $31.35. The firm’s fifty day moving average is $26.57 and its 200 day moving average is $25.11.

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

Insider Activity

In related news, insider Roy C. Hardiman sold 2,692 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $26.37, for a total value of $70,988.04. Following the completion of the sale, the insider directly owned 207,746 shares of the company’s stock, valued at $5,478,262.02. The trade was a 1.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider David M. Goldstein sold 2,596 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $26.37, for a total value of $68,456.52. Following the transaction, the insider directly owned 30,970 shares in the company, valued at approximately $816,678.90. This trade represents a 7.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 19,953 shares of company stock valued at $534,311. Corporate insiders own 33.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ALMS shares. Wall Street Zen raised shares of Alumis from a “strong sell” rating to a “hold” rating in a research note on Sunday, August 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alumis in a research report on Tuesday, July 7th. Citigroup reiterated a “neutral” rating on shares of Alumis in a report on Monday, August 17th. Guggenheim boosted 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. Finally, HC Wainwright restated a “neutral” rating and set a $25.00 target price on shares of Alumis in a research report on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $40.30.

Alumis Company Profile

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.