venBio Partners LLC Buys Shares of 4,528,408 Alumis Inc. $ALMS

venBio Partners LLC acquired a new stake in Alumis Inc. (NASDAQ:ALMS) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 4,528,408 shares of the company’s stock, valued at approximately $127,429,401,000. Alumis comprises about 24.5% of venBio Partners LLC’s investment portfolio, making the stock its 3rd biggest holding. venBio Partners LLC owned about 3.55% of Alumis at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Capstone Investment Advisors LLC acquired a new stake in Alumis in the second quarter worth about $237,000. Corient Private Wealth LP bought a new stake in Alumis during the second quarter worth approximately $997,000. Artia Global Partners LP bought a new stake in shares of Alumis during the 2nd quarter worth $7,838,000. Bank of America Corp DE acquired a new position in shares of Alumis in the 2nd quarter valued at $5,847,000. Finally, Jupiter Topco LLC purchased a new position in shares of Alumis in the second quarter worth approximately $66,238,000.

Alumis Stock Down 1.7%

Shares of NASDAQ:ALMS opened at $23.21 on Friday. The firm has a fifty day moving average of $26.57 and a two-hundred day moving average of $25.11. Alumis Inc. has a 12-month low of $3.76 and a 12-month high of $31.35. The firm has a market capitalization of $3.00 billion, a P/E ratio of -6.01 and a beta of -0.69.

Alumis (NASDAQ:ALMS) last posted its quarterly 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 company had revenue of $1.66 million during the quarter, compared to analyst estimates 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 fiscal year.

Wall Street Analyst Weigh In

ALMS has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of Alumis from a “strong sell” rating to a “hold” rating in a research note on Sunday, August 23rd. Guggenheim boosted their target price on shares of Alumis from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Wells Fargo & Company increased 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. 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 target on shares of Alumis in a report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Alumis currently has an average rating of “Moderate Buy” and an average target price of $40.30.

Insider Buying and Selling

In other news, insider Mark Christopher Bradley sold 2,572 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $26.37, for a total transaction 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jorn Drappa sold 2,447 shares of Alumis stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $26.37, for a total transaction of $64,527.39. Following the completion of the sale, the insider directly owned 56,892 shares of the company’s stock, valued at approximately $1,500,242.04. The trade was a 4.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 19,953 shares of company stock valued at $534,311. 33.70% of the stock is owned by company insiders.

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.