Elmind Capital LP Invests $2.86 Million in Alumis Inc. $ALMS

Elmind Capital LP purchased a new position in Alumis Inc. (NASDAQ:ALMS) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 130,000 shares of the company’s stock, valued at approximately $2,864,000. Alumis makes up about 0.8% of Elmind Capital LP’s portfolio, making the stock its 24th biggest holding.

A number of other hedge funds have also recently bought and sold shares of the business. The Manufacturers Life Insurance Company raised its position in shares of Alumis by 775.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 154,634 shares of the company’s stock valued at $3,407,000 after purchasing an additional 136,973 shares in the last quarter. Octagon Capital Advisors LP grew its holdings in Alumis by 11.9% during the 1st quarter. Octagon Capital Advisors LP now owns 2,830,700 shares of the company’s stock worth $62,360,000 after acquiring an additional 300,000 shares in the last quarter. Weiss Asset Management LP acquired a new stake in shares of Alumis in the 1st quarter valued at about $24,176,000. Spruce Street Capital LP acquired a new stake in shares of Alumis in the 1st quarter valued at about $8,648,000. Finally, Sei Investments Co. acquired a new position in Alumis in the first quarter worth about $205,000.

Insider Buying and Selling at Alumis

In other Alumis news, insider Sanam Pangali sold 5,000 shares of the firm’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $28.00, for a total transaction of $140,000.00. Following the transaction, the insider 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 33.70% of the stock is currently owned by corporate insiders.

Alumis Trading Down 3.3%

Shares of NASDAQ:ALMS opened at $27.08 on Tuesday. The firm’s 50 day moving average is $24.62 and its two-hundred day moving average is $24.91. The firm has a market capitalization of $3.45 billion, a P/E ratio of -13.68 and a beta of -0.73. Alumis Inc. has a 52 week low of $3.75 and a 52 week high of $31.35.

Alumis (NASDAQ:ALMS) last issued its quarterly earnings data 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). Alumis had a negative return on equity of 88.79% and a negative net margin of 2,825.70%.The business had revenue of $1.74 million for the quarter, compared to analyst estimates of $2.10 million. Analysts predict that Alumis Inc. will post -2.87 EPS for the current year.

Analyst Ratings Changes

Several analysts have issued reports on the company. Citigroup restated a “buy” rating on shares of Alumis in a research note on Tuesday, May 19th. Chardan Capital boosted their target price on shares of Alumis from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, May 19th. HC Wainwright lowered shares of Alumis from a “buy” rating to a “neutral” rating and set a $25.00 price target for the company. in a report on Friday, May 15th. Wells Fargo & Company increased their price objective on shares of Alumis from $49.00 to $51.00 and gave the stock an “overweight” rating in a research note on Friday, May 15th. Finally, Morgan Stanley restated an “overweight” rating and issued a $39.00 target price on shares of Alumis in a research note on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.30.

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.