Alumis Inc. (NASDAQ:ALMS) Stock Short Interest Rises 63.4%

Alumis Inc. (NASDAQ:ALMS) was the recipient of a large growth in short interest in September. As of September 30th, there was short interest totaling 10,295,705 shares, a growth of 63.4% from the September 15th total of 6,299,106 shares. Approximately 12.0% of the company’s stock are short sold. Based on an average trading volume of 2,869,547 shares, the short-interest ratio is currently 3.6 days.

Insider Transactions at Alumis

In other Alumis news, insider Mark Bradley sold 2,572 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $26.37, for a total value of $67,823.64. Following the completion of the transaction, the insider owned 48,533 shares in the company, valued at $1,279,815.21. This represents a 5.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David Goldstein sold 2,596 shares of the 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 $68,456.52. Following the completion of the sale, the insider directly owned 30,970 shares of the company’s stock, valued at $816,678.90. This trade represents a 7.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 111,084 shares of company stock worth $1,408,493 over the last 90 days. 33.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alumis

Hedge funds and other institutional investors have recently modified their holdings of the stock. Integrated Wealth Concepts LLC acquired a new stake in shares of Alumis in the 2nd quarter valued at about $33,000. KBC Group NV bought a new position in shares of Alumis during the first quarter worth about $42,000. Strs Ohio lifted its position in shares of Alumis by 300.0% during the first quarter. Strs Ohio now owns 2,000 shares of the company’s stock worth $44,000 after purchasing an additional 1,500 shares during the last quarter. State of Wyoming acquired a new position in Alumis in the first quarter worth about $57,000. Finally, EverSource Wealth Advisors LLC grew its stake in Alumis by 600.4% in the first quarter. EverSource Wealth Advisors LLC now owns 3,131 shares of the company’s stock worth $69,000 after purchasing an additional 2,684 shares in the last quarter.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. HC Wainwright restated a “buy” rating on shares of Alumis in a research note on Monday, October 5th. Robert W. Baird set a $27.00 price target on shares of Alumis in a report on Tuesday, September 1st. Oppenheimer dropped their price target on shares of Alumis from $55.00 to $37.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 2nd. Cantor Fitzgerald reiterated an “overweight” rating on shares of Alumis in a report on Wednesday, September 16th. Finally, Wells Fargo & Company cut their price objective on shares of Alumis from $51.00 to $25.00 and set an “overweight” rating on the stock in a report on Wednesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $33.27.

Alumis Trading Up 4.1%

Alumis stock opened at $6.31 on Friday. Alumis has a 52 week low of $4.37 and a 52 week high of $31.35. The stock has a 50 day moving average of $13.67 and a 200-day moving average of $20.71.

Alumis (NASDAQ:ALMS) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($1.11) earnings per share (EPS) 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 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%. On average, analysts forecast that Alumis will post -2.95 earnings per share for the current year.

Alumis Company Profile

Alumis, Inc is a clinical-stage biopharmaceutical company focused on developing oral therapies for immune-mediated diseases. The company’s research centers on selective allosteric inhibitors of tyrosine kinase 2 (TYK2), a protein involved in signaling pathways that regulate inflammation and immune responses.

Alumis’ lead product candidate is ESK-001, an oral, highly selective TYK2 inhibitor being evaluated in inflammatory and autoimmune conditions, including plaque psoriasis, psoriatic arthritis and systemic lupus erythematosus.