Short Interest in Alumis Inc. (NASDAQ:ALMS) Declines By 52.7%

Alumis Inc. (NASDAQ:ALMS) saw a large drop in short interest during the month of July. As of July 15th, there was short interest totaling 6,764,417 shares, a drop of 52.7% from the June 30th total of 14,294,503 shares. Based on an average daily volume of 1,774,538 shares, the short-interest ratio is currently 3.8 days. Currently, 8.0% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ALMS shares. Wells Fargo & Company lifted their price objective on Alumis from $49.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, May 15th. Morgan Stanley restated an “overweight” rating and issued a $39.00 price target on shares of Alumis in a research note on Friday, May 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alumis in a report on Tuesday, July 7th. Guggenheim increased their price objective on Alumis from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Finally, Wall Street Zen cut shares of Alumis from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $40.30.

Insider Buying and Selling

In other news, insider Sanam Pangali sold 5,000 shares of the company’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $28.00, for a total value of $140,000.00. Following the completion of the sale, the insider directly owned 11,111 shares of the company’s stock, valued at approximately $311,108. This represents a 31.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 33.70% of the company’s stock.

Institutional Trading of Alumis

Several large investors have recently modified their holdings of the business. Russell Investments Group Ltd. increased its stake in shares of Alumis by 320.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,419 shares of the company’s stock worth $26,000 after purchasing an additional 4,894 shares in the last quarter. New York State Common Retirement Fund grew its holdings in Alumis by 173.7% during the 2nd quarter. New York State Common Retirement Fund now owns 11,767 shares of the company’s stock valued at $35,000 after buying an additional 7,467 shares during the last quarter. KBC Group NV acquired a new stake in Alumis during the 1st quarter valued at $42,000. Strs Ohio increased its position in Alumis by 300.0% during the first quarter. Strs Ohio now owns 2,000 shares of the company’s stock worth $44,000 after buying an additional 1,500 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Alumis by 26.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,724 shares of the company’s stock worth $46,000 after buying an additional 979 shares in the last quarter.

Alumis Stock Performance

ALMS stock traded down $0.41 during midday trading on Wednesday, hitting $26.62. 189,283 shares of the stock were exchanged, compared to its average volume of 2,067,444. The stock’s 50-day moving average price is $24.73 and its 200-day moving average price is $24.98. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of -13.50 and a beta of -0.73. Alumis has a fifty-two week low of $3.76 and a fifty-two week high of $31.35.

Alumis (NASDAQ:ALMS) last posted its earnings results on Thursday, May 14th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $1.74 million during the quarter, compared to analyst estimates of $2.10 million. Research analysts anticipate that Alumis will post -2.87 EPS for the current year.

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.