Cormorant Asset Management LP Acquires 1,488,200 Shares of Alumis Inc. $ALMS

Cormorant Asset Management LP boosted its holdings in Alumis Inc. (NASDAQ:ALMS) by 69.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,635,596 shares of the company’s stock after purchasing an additional 1,488,200 shares during the quarter. Alumis accounts for about 1.6% of Cormorant Asset Management LP’s portfolio, making the stock its 13th largest holding. Cormorant Asset Management LP owned approximately 3.48% of Alumis worth $35,483,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Alumis by 64.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,535 shares of the company’s stock worth $77,000 after purchasing an additional 4,926 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Alumis by 24.0% in the first quarter. Goldman Sachs Group Inc. now owns 61,645 shares of the company’s stock valued at $378,000 after buying an additional 11,949 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Alumis in the first quarter valued at approximately $111,000. Rhumbline Advisers boosted its stake in shares of Alumis by 21.7% in the first quarter. Rhumbline Advisers now owns 16,543 shares of the company’s stock valued at $102,000 after buying an additional 2,949 shares during the period. Finally, Geode Capital Management LLC grew its position in Alumis by 163.2% during the second quarter. Geode Capital Management LLC now owns 1,167,832 shares of the company’s stock worth $3,504,000 after buying an additional 724,133 shares in the last quarter.

Alumis Price Performance

Shares of ALMS opened at $23.05 on Thursday. The firm has a 50 day simple moving average of $22.84 and a two-hundred day simple moving average of $21.61. Alumis Inc. has a one year low of $2.76 and a one year high of $30.60. The company has a market cap of $2.94 billion, a P/E ratio of -11.64 and a beta of -0.56.

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

Analyst Ratings Changes

A number of research firms have commented on ALMS. Raymond James Financial started coverage on Alumis in a research note on Tuesday, March 10th. They set a “strong-buy” rating and a $46.00 price objective on the stock. Wells Fargo & Company upped their target price on Alumis from $49.00 to $51.00 and gave the company an “overweight” rating in a research report on Friday, May 15th. Morgan Stanley reissued an “overweight” rating and set a $39.00 target price on shares of Alumis in a report on Friday, May 15th. Oppenheimer raised their price target on Alumis from $50.00 to $55.00 and gave the stock an “outperform” rating in a research report on Monday, March 30th. Finally, Guggenheim boosted 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. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $40.30.

Alumis Company 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.