Velan Capital Investment Management LP Invests $4.86 Million in Alumis Inc. $ALMS

Velan Capital Investment Management LP bought a new stake in Alumis Inc. (NASDAQ:ALMS) in the second quarter, HoldingsChannel.com reports. The fund bought 1,620,846 shares of the company’s stock, valued at approximately $4,863,000. Alumis accounts for approximately 4.8% of Velan Capital Investment Management LP’s investment portfolio, making the stock its 9th biggest position.

Other hedge funds also recently bought and sold shares of the company. Kera Capital Partners Inc. purchased a new position in shares of Alumis in the 2nd quarter worth $32,000. Corebridge Financial Inc. lifted its holdings in shares of Alumis by 53.0% in the 1st quarter. Corebridge Financial Inc. now owns 10,658 shares of the company’s stock valued at $65,000 after acquiring an additional 3,693 shares during the last quarter. Police & Firemen s Retirement System of New Jersey grew its position in Alumis by 199.7% in the second 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 in the last quarter. New York State Common Retirement Fund increased its stake in Alumis by 173.7% during the second 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. Finally, Western Wealth Management LLC purchased a new stake in Alumis during the second quarter valued at approximately $36,000.

Insider Transactions at Alumis

In other Alumis news, major shareholder Foresite Capital Management Vi bought 200,000 shares of the company’s stock in a transaction on Monday, November 17th. The shares were bought at an average cost of $5.59 per share, for a total transaction of $1,118,000.00. Following the acquisition, the insider directly owned 2,234,129 shares in the company, valued at approximately $12,488,781.11. The trade was a 9.83% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Srinivas Akkaraju bought 276,179 shares of the business’s stock in a transaction on Thursday, November 13th. The shares were acquired at an average cost of $5.25 per share, for a total transaction of $1,449,939.75. Following the transaction, the director directly owned 276,179 shares in the company, valued at approximately $1,449,939.75. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 2,788,875 shares of company stock worth $18,352,357 over the last quarter. 40.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on ALMS. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alumis in a report on Monday. Wall Street Zen upgraded Alumis from a “sell” rating to a “hold” rating in a research report on Saturday. Morgan Stanley cut their price target on shares of Alumis from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Friday, August 15th. Finally, HC Wainwright restated a “buy” rating and set a $14.00 target price on shares of Alumis in a research report on Thursday, August 14th. Six research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.20.

Alumis Price Performance

ALMS stock opened at $11.43 on Wednesday. Alumis Inc. has a 12 month low of $2.76 and a 12 month high of $11.57. The firm’s 50-day moving average is $5.77 and its 200 day moving average is $4.56. The company has a market capitalization of $1.19 billion, a PE ratio of -2.82 and a beta of -1.91.

Alumis (NASDAQ:ALMS) last announced its quarterly earnings results on Thursday, November 13th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.14). The company had revenue of $2.07 million during the quarter, compared to analysts’ expectations of $3.14 million. Sell-side analysts forecast that Alumis Inc. will post -8.51 EPS for the current fiscal 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.