Short Interest in Alumis Inc. (NASDAQ:ALMS) Drops By 52.7%

Alumis Inc. (NASDAQ:ALMS) was the target of a significant drop in short interest in the month of July. As of July 15th, there was short interest totaling 6,764,417 shares, a drop of 52.7% from the June 30th total of 14,294,503 shares. Based on an average daily volume of 1,774,538 shares, the short-interest ratio is presently 3.8 days. Currently, 8.0% of the company’s shares are short sold.

Alumis Stock Performance

Alumis stock opened at $27.08 on Tuesday. The stock has a 50-day moving average of $24.62 and a two-hundred day moving average of $24.91. Alumis has a one year low of $3.75 and a one year high of $31.35. The stock has a market cap of $3.45 billion, a PE ratio of -13.68 and a beta of -0.73.

Alumis (NASDAQ:ALMS) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.73) by ($0.01). Alumis had a negative return on equity of 88.79% and a negative net margin of 2,825.70%.The business had revenue of $1.74 million during the quarter, compared to analyst estimates of $2.10 million. As a group, sell-side analysts predict that Alumis will post -2.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ALMS. HC Wainwright cut Alumis from a “buy” rating to a “neutral” rating and set a $25.00 price objective on the stock. in a research note on Friday, May 15th. Citigroup reiterated a “buy” rating on shares of Alumis in a report on Tuesday, May 19th. Oppenheimer upped their price objective on shares of Alumis from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Monday, March 30th. Morgan Stanley reaffirmed an “overweight” rating and issued a $39.00 price target on shares of Alumis in a research report on Friday, May 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alumis in a research report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $40.30.

Insider Buying and Selling at Alumis

In other news, insider Sanam Pangali sold 5,000 shares of the company’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 transaction, the insider directly owned 11,111 shares in the company, valued at approximately $311,108. This represents a 31.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 33.70% of the company’s stock.

Institutional Trading of Alumis

Several large investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. increased its stake in Alumis by 320.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,419 shares of the company’s stock valued at $26,000 after purchasing an additional 4,894 shares in the last quarter. New York State Common Retirement Fund grew its holdings in shares of Alumis by 173.7% during the second quarter. New York State Common Retirement Fund now owns 11,767 shares of the company’s stock valued at $35,000 after buying an additional 7,467 shares during the last quarter. KBC Group NV purchased a new stake in shares of Alumis during the first quarter valued at $42,000. Strs Ohio increased its position in shares of Alumis by 300.0% in the 1st 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 period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Alumis by 26.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,724 shares of the company’s stock valued at $46,000 after acquiring an additional 979 shares during the period.

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.