Orbimed Advisors LLC Has $12.08 Million Stock Holdings in Alumis Inc. $ALMS

Orbimed Advisors LLC trimmed its holdings in shares of Alumis Inc. (NASDAQ:ALMS) by 50.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 548,163 shares of the company’s stock after selling 554,567 shares during the quarter. Orbimed Advisors LLC owned 0.43% of Alumis worth $12,076,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its stake in shares of Alumis by 320.9% during the third quarter. Russell Investments Group Ltd. now owns 6,419 shares of the company’s stock valued at $26,000 after acquiring an additional 4,894 shares during the last quarter. New York State Common Retirement Fund grew its stake in shares of Alumis by 173.7% in the second quarter. New York State Common Retirement Fund now owns 11,767 shares of the company’s stock worth $35,000 after purchasing an additional 7,467 shares during the last quarter. KBC Group NV acquired a new stake in Alumis in the first quarter valued at $42,000. Strs Ohio increased its holdings in Alumis by 300.0% in the first quarter. Strs Ohio now owns 2,000 shares of the company’s stock valued at $44,000 after purchasing an additional 1,500 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Alumis by 26.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,724 shares of the company’s stock valued at $46,000 after purchasing an additional 979 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alumis in a report on Tuesday, July 7th. Guggenheim increased 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. Morgan Stanley reissued an “overweight” rating and issued a $39.00 price target on shares of Alumis in a research note on Friday, May 15th. Wall Street Zen downgraded Alumis from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, Wells Fargo & Company lifted their price objective on Alumis from $49.00 to $51.00 and gave the stock an “overweight” rating in a research note on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Alumis currently has a consensus rating of “Moderate Buy” and an average price target of $40.30.

Alumis Price Performance

ALMS opened at $28.00 on Monday. Alumis Inc. has a twelve month low of $3.75 and a twelve month high of $31.35. The company has a fifty day moving average of $24.50 and a 200-day moving average of $24.84. The stock has a market cap of $3.57 billion, a PE ratio of -14.14 and a beta of -0.73.

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

Insider Buying and Selling at Alumis

In other news, insider Sanam Pangali sold 5,000 shares of Alumis stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $28.00, for a total value of $140,000.00. Following the completion of the transaction, the insider directly owned 11,111 shares of the company’s stock, valued at approximately $311,108. This trade represents a 31.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 33.70% of the company’s stock.

Alumis 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.