Wellington Management Group LLP Has $5.06 Million Position in Alumis Inc. $ALMS

Wellington Management Group LLP cut its holdings in shares of Alumis Inc. (NASDAQ:ALMS) by 24.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 179,802 shares of the company’s stock after selling 59,429 shares during the quarter. Wellington Management Group LLP’s holdings in Alumis were worth $5,060,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ALMS. BlackRock Inc. bought a new position in shares of Alumis in the 2nd quarter valued at about $231,259,000. Samsara Biocapital LLC increased its position in shares of Alumis by 19.9% in the fourth quarter. Samsara Biocapital LLC now owns 5,756,984 shares of the company’s stock valued at $56,188,000 after acquiring an additional 955,614 shares during the last quarter. venBio Partners LLC bought a new stake in Alumis during the second quarter worth about $127,429,401. Vanguard Group Inc. raised its holdings 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 acquiring an additional 625,404 shares in the last quarter. Finally, Cormorant Asset Management LP boosted its position in Alumis by 69.3% during the fourth quarter. Cormorant Asset Management LP now owns 3,635,596 shares of the company’s stock valued at $35,483,000 after purchasing an additional 1,488,200 shares during the last quarter.

Alumis Stock Down 7.4%

Shares of NASDAQ ALMS opened at $9.80 on Thursday. The business’s 50 day moving average price is $24.32 and its two-hundred day moving average price is $24.24. The company has a market cap of $1.27 billion, a PE ratio of -2.54 and a beta of -0.81. Alumis Inc. has a twelve month low of $3.76 and a twelve month high of $31.35.

Alumis (NASDAQ:ALMS) last released its quarterly earnings data on Thursday, August 13th. The company reported ($1.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.77) by ($0.34). Alumis had a negative net margin of 5,933.46% and a negative return on equity of 93.15%. The business had revenue of $1.66 million during the quarter, compared to the consensus estimate of $3.65 million. As a group, research analysts anticipate that Alumis Inc. will post -2.95 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on ALMS shares. Guggenheim downgraded Alumis from a “buy” rating to a “neutral” rating in a research note on Thursday, September 3rd. Wall Street Zen downgraded Alumis from a “hold” rating to a “sell” rating in a report on Saturday, September 5th. HC Wainwright raised Alumis from a “neutral” rating to a “buy” rating and cut their price objective for the company from $25.00 to $15.00 in a report on Wednesday, September 2nd. Citigroup reissued an “overweight” rating on shares of Alumis in a research note on Tuesday, September 1st. Finally, Oppenheimer lowered their target price on shares of Alumis from $55.00 to $37.00 and set an “outperform” rating on the stock in a report on Wednesday, September 2nd. 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $33.27.

Insider Buying and Selling at Alumis

In related news, insider Roy Hardiman sold 2,692 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $26.37, for a total value of $70,988.04. Following the sale, the insider owned 207,746 shares in the company, valued at approximately $5,478,262.02. This represents a 1.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sanam Pangali sold 5,000 shares of the firm’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $28.00, for a total value of $140,000.00. Following the sale, the insider directly owned 11,111 shares of the company’s stock, valued at $311,108. This represents a 31.03% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 116,084 shares of company stock worth $1,548,493 in the last three months. 33.70% of the stock is owned by insiders.

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.