Short Interest in Alumis Inc. (NASDAQ:ALMS) Decreases By 12.2%

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

Insider Buying and Selling

In related news, Director Srinivas Akkaraju acquired 588,235 shares of the stock in a transaction on Friday, January 9th. The shares were purchased at an average price of $17.00 per share, for a total transaction of $9,999,995.00. Following the purchase, the director directly owned 1,853,488 shares in the company, valued at approximately $31,509,296. The trade was a 46.49% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Foresite Labs, Llc bought 411,764 shares of the business’s stock in a transaction dated Thursday, January 8th. The shares were bought at an average price of $17.00 per share, with a total value of $6,999,988.00. Following the completion of the transaction, the insider owned 5,702,536 shares in the company, valued at approximately $96,943,112. This trade represents a 7.78% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders acquired 1,823,527 shares of company stock worth $30,999,959. 40.70% of the stock is owned by corporate insiders.

Institutional Trading of Alumis

Hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. raised its holdings in Alumis by 320.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,419 shares of the company’s stock valued at $26,000 after buying an additional 4,894 shares during the last quarter. Police & Firemen s Retirement System of New Jersey grew its holdings in Alumis by 199.7% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 10,753 shares of the company’s stock worth $32,000 after acquiring an additional 7,165 shares during 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 worth $35,000 after acquiring an additional 7,467 shares during the last quarter. Western Wealth Management LLC acquired a new position in Alumis in the 2nd quarter valued at approximately $36,000. Finally, ProShare Advisors LLC acquired a new stake in Alumis in the second quarter valued at $40,000.

Alumis Stock Performance

Shares of ALMS opened at $25.42 on Thursday. Alumis has a 52 week low of $2.76 and a 52 week high of $30.60. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of -6.28 and a beta of -2.15. The stock has a fifty day moving average of $26.18 and a 200-day moving average of $13.50.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ALMS shares. Leerink Partners upped their price target on shares of Alumis from $20.00 to $32.00 and gave the stock an “outperform” rating in a report on Tuesday, January 6th. Raymond James Financial started coverage on shares of Alumis in a research report on Tuesday, March 10th. They set a “strong-buy” rating and a $46.00 price objective for the company. Guggenheim upped their target price on Alumis from $18.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Wall Street Zen raised Alumis from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. Finally, Wells Fargo & Company raised their price objective on Alumis from $17.00 to $39.00 and gave the company an “overweight” rating in a research note on Tuesday, January 6th. 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $39.00.

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.