Alumis Inc. (NASDAQ:ALMS) Short Interest Down 12.2% in February

Alumis Inc. (NASDAQ:ALMS) was the recipient of a large decrease in short interest in the month of February. As of February 27th, there was short interest totaling 7,953,241 shares, a decrease of 12.2% from the February 12th total of 9,054,577 shares. Based on an average daily volume of 1,322,625 shares, the short-interest ratio is currently 6.0 days. Approximately 12.8% of the shares of the company are short sold. Approximately 12.8% of the shares of the company are short sold. Based on an average daily volume of 1,322,625 shares, the short-interest ratio is currently 6.0 days.

Wall Street Analysts Forecast Growth

ALMS has been the topic of several recent research reports. Oppenheimer reissued an “outperform” rating and set a $50.00 price objective on shares of Alumis in a report on Tuesday, January 6th. Leerink Partners lifted their price target on shares of Alumis from $20.00 to $32.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 6th. Guggenheim increased their price objective on shares of Alumis from $18.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alumis in a research report on Monday, December 29th. Finally, Morgan Stanley upped their target price on shares of Alumis from $22.00 to $33.00 and gave the company an “overweight” rating in a research note on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Alumis has an average rating of “Moderate Buy” and a consensus target price of $39.00.

Alumis Stock Performance

NASDAQ ALMS opened at $26.21 on Wednesday. The firm’s fifty day moving average price is $26.03 and its two-hundred day moving average price is $13.41. The stock has a market cap of $2.74 billion, a PE ratio of -6.47 and a beta of -2.15. Alumis has a fifty-two week low of $2.76 and a fifty-two week high of $30.60.

Insider Activity at Alumis

In related news, major shareholder Foresite Capital Management Vi purchased 411,764 shares of the firm’s stock in a transaction on Thursday, January 8th. The shares were bought at an average cost of $17.00 per share, for a total transaction of $6,999,988.00. Following the transaction, the insider directly owned 5,702,536 shares of the company’s stock, valued at approximately $96,943,112. This trade represents a 7.78% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Foresite Labs, Llc acquired 411,764 shares of the business’s stock in a transaction dated Thursday, January 8th. The shares were bought at an average cost of $17.00 per share, with a total value of $6,999,988.00. Following the transaction, the insider directly owned 5,702,536 shares of the company’s stock, valued at $96,943,112. The trade was a 7.78% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 1,823,527 shares of company stock valued at $30,999,959 in the last quarter. Company insiders own 40.70% of the company’s stock.

Institutional Investors Weigh In On Alumis

A number of hedge funds and other institutional investors have recently bought and sold shares of ALMS. Samsara Biocapital LLC increased its holdings in Alumis by 19.9% in the 4th quarter. Samsara Biocapital LLC now owns 5,756,984 shares of the company’s stock worth $56,188,000 after purchasing an additional 955,614 shares in the last quarter. Foresite Capital Management VI LLC boosted its stake in shares of Alumis by 1.1% during the second quarter. Foresite Capital Management VI LLC now owns 4,247,670 shares of the company’s stock valued at $12,743,000 after purchasing an additional 45,000 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of 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 purchasing an additional 625,404 shares during the last quarter. Cormorant Asset Management LP grew its holdings in shares of 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 purchasing an additional 1,488,200 shares during the last quarter. Finally, Trium Capital LLP increased its stake in shares of Alumis by 17.9% in the third quarter. Trium Capital LLP now owns 3,122,111 shares of the company’s stock valued at $12,457,000 after buying an additional 474,072 shares during the period.

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.