venBio Partners LLC Takes Position in Alumis Inc. $ALMS

venBio Partners LLC bought a new position in shares of Alumis Inc. (NASDAQ:ALMS) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 4,528,408 shares of the company’s stock, valued at approximately $127,429,401. Alumis makes up about 0.0% of venBio Partners LLC’s investment portfolio, making the stock its 3rd biggest position. venBio Partners LLC owned 3.55% of Alumis as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of Alumis during the second quarter valued at approximately $231,259,000. Samsara Biocapital LLC raised its position in shares of Alumis by 19.9% during the 4th quarter. Samsara Biocapital LLC now owns 5,756,984 shares of the company’s stock worth $56,188,000 after acquiring an additional 955,614 shares in the last quarter. Vanguard Group Inc. grew its position in Alumis by 18.4% during the third quarter. Vanguard Group Inc. now owns 4,029,615 shares of the company’s stock worth $16,078,000 after buying an additional 625,404 shares during the period. Cormorant Asset Management LP grew its stake in Alumis by 69.3% during the fourth quarter. Cormorant Asset Management LP now owns 3,635,596 shares of the company’s stock worth $35,483,000 after buying an additional 1,488,200 shares during the period. Finally, Octagon Capital Advisors LP grew its holdings in shares of Alumis by 11.9% during the first quarter. Octagon Capital Advisors LP now owns 2,830,700 shares of the company’s stock valued at $62,360,000 after purchasing an additional 300,000 shares during the last quarter.

Insider Transactions at Alumis

In related news, insider Roy C. Hardiman sold 2,692 shares of Alumis stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $26.37, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO John R. Schroer sold 3,282 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $26.37, for a total transaction of $86,546.34. Following the completion of the sale, the chief financial officer owned 24,718 shares in the company, valued at $651,813.66. This represents a 11.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 19,953 shares of company stock worth $534,311. 33.70% of the stock is currently owned by company insiders.

Alumis Stock Performance

Shares of ALMS stock traded down $0.83 on Friday, hitting $22.38. 655,023 shares of the company’s stock traded hands, compared to its average volume of 1,911,548. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of -5.80 and a beta of -0.69. Alumis Inc. has a one year low of $3.76 and a one year high of $31.35. The company’s fifty day simple moving average is $26.57 and its 200 day simple moving average is $25.11.

Alumis (NASDAQ:ALMS) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($1.11) EPS for the quarter, missing the consensus estimate 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%. As a group, sell-side analysts anticipate that Alumis Inc. will post -2.95 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Wells Fargo & Company increased their price target on Alumis from $49.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, May 15th. Guggenheim raised their target price on shares of Alumis from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Wall Street Zen upgraded Alumis from a “strong sell” rating to a “hold” rating in a research report on Sunday, August 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of Alumis in a report on Tuesday, July 7th. Finally, Chardan Capital raised their price objective on shares of Alumis from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, May 19th. One 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 issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.