Alumis Inc. (NASDAQ:ALMS) Sees Large Increase in Short Interest

Alumis Inc. (NASDAQ:ALMS) was the recipient of a large increase in short interest during the month of January. As of January 15th, there was short interest totaling 8,672,088 shares, an increase of 93.1% from the December 31st total of 4,492,125 shares. Based on an average daily trading volume, of 10,417,053 shares, the days-to-cover ratio is currently 0.8 days. Currently, 14.0% of the company’s stock are sold short. Currently, 14.0% of the company’s stock are sold short. Based on an average daily trading volume, of 10,417,053 shares, the days-to-cover ratio is currently 0.8 days.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Loop Capital set a $37.00 price target on shares of Alumis in a research report on Wednesday, January 21st. Citigroup reiterated an “outperform” rating on shares of Alumis in a research note on Tuesday, January 6th. Chardan Capital initiated coverage on Alumis in a research note on Wednesday, January 21st. They set a “buy” rating and a $37.00 target price for the company. HC Wainwright reiterated a “buy” rating and issued a $40.00 price objective (up previously from $20.00) on shares of Alumis in a report on Friday, January 9th. Finally, Leerink Partners boosted their target price on Alumis from $20.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday, January 6th. Ten research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $37.50.

Insiders Place Their Bets

In other news, major shareholder Foresite Labs, Llc acquired 411,764 shares of the business’s stock in a transaction on Thursday, January 8th. The stock was bought at an average price of $17.00 per share, with a total value of $6,999,988.00. Following the completion of the acquisition, the insider owned 5,702,536 shares of the company’s stock, valued at approximately $96,943,112. This represents a 7.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Srinivas Akkaraju purchased 588,235 shares of the business’s stock in a transaction that occurred on Friday, January 9th. The stock was bought at an average cost of $17.00 per share, with a total value of $9,999,995.00. Following the acquisition, the director owned 1,853,488 shares in the company, valued at $31,509,296. This represents a 46.49% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 4,612,402 shares of company stock worth $49,352,316 over the last ninety days. Insiders own 40.70% of the company’s stock.

Institutional Investors Weigh In On Alumis

Several institutional investors and hedge funds have recently bought and sold shares of ALMS. Samsara Biocapital LLC boosted its stake in Alumis by 47.0% during the 2nd quarter. Samsara Biocapital LLC now owns 4,801,370 shares of the company’s stock valued at $14,404,000 after purchasing an additional 1,534,872 shares during the period. Foresite Capital Management VI LLC lifted its holdings in shares of Alumis by 1.1% in the second quarter. Foresite Capital Management VI LLC now owns 4,247,670 shares of the company’s stock valued at $12,743,000 after buying an additional 45,000 shares during the period. Vanguard Group Inc. boosted its position in shares of Alumis by 18.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,029,615 shares of the company’s stock valued at $16,078,000 after purchasing an additional 625,404 shares in the last quarter. Trium Capital LLP boosted its holdings in Alumis by 17.9% during the third quarter. Trium Capital LLP now owns 3,122,111 shares of the company’s stock worth $12,457,000 after buying an additional 474,072 shares in the last quarter. Finally, Orbimed Advisors LLC acquired a new position in shares of Alumis in the 2nd quarter valued at $5,779,000.

Alumis Price Performance

Shares of ALMS stock opened at $24.51 on Friday. Alumis has a 1-year low of $2.76 and a 1-year high of $28.29. The firm’s 50-day simple moving average is $15.06 and its 200-day simple moving average is $8.20. The firm has a market cap of $2.56 billion, a P/E ratio of -6.05 and a beta of -2.09.

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

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.