Wellington Management Group LLP Sells 59,429 Shares of Alumis Inc. $ALMS

Wellington Management Group LLP decreased its position in shares of Alumis Inc. (NASDAQ:ALMS) by 24.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 179,802 shares of the company’s stock after selling 59,429 shares during the quarter. Wellington Management Group LLP owned about 0.14% of Alumis worth $5,060,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in Alumis in the second quarter worth $231,259,000. venBio Partners LLC acquired a new position in shares of Alumis in the 2nd quarter valued at $127,429,401. MPM Bioimpact LLC acquired a new position in shares of Alumis in the 4th quarter valued at $23,443,000. Jupiter Topco LLC bought a new stake in shares of Alumis in the 2nd quarter valued at $66,238,000. Finally, Janus Henderson Group PLC acquired a new stake in Alumis during the 1st quarter worth $46,790,000.

Alumis Trading Down 7.4%

Shares of NASDAQ ALMS opened at $9.80 on Thursday. The firm has a market cap of $1.27 billion, a PE ratio of -2.54 and a beta of -0.81. Alumis Inc. has a 1-year low of $3.76 and a 1-year high of $31.35. The company has a fifty day moving average price of $24.32 and a 200 day moving average price of $24.24.

Alumis (NASDAQ:ALMS) last released its earnings results on Thursday, August 13th. The company reported ($1.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.34). The firm had revenue of $1.66 million for the quarter, compared to the consensus estimate of $3.65 million. Alumis had a negative return on equity of 93.15% and a negative net margin of 5,933.46%. Equities research analysts forecast that Alumis Inc. will post -2.95 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ALMS shares. HC Wainwright upgraded Alumis from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $25.00 to $15.00 in a report on Wednesday, September 2nd. Robert W. Baird set a $27.00 price target on Alumis in a report on Tuesday, September 1st. Oppenheimer dropped their price target on Alumis from $55.00 to $37.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alumis in a report on Tuesday, July 7th. Finally, Chardan Capital boosted their price objective on Alumis from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $33.27.

Insider Buying and Selling at Alumis

In related news, insider Sanam Pangali sold 5,000 shares of the stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $28.00, for a total transaction of $140,000.00. Following the completion of the transaction, the insider directly owned 11,111 shares in the company, valued at approximately $311,108. This trade represents a 31.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Srinivas Akkaraju bought 546,581 shares of the company’s stock in a transaction that occurred on Tuesday, September 8th. The stock was purchased at an average cost of $10.63 per share, for a total transaction of $5,810,156.03. Following the transaction, the director owned 4,937,026 shares in the company, valued at $52,480,586.38. The trade was a 12.45% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold 116,084 shares of company stock valued at $1,548,493 in the last 90 days. 33.70% of the stock is currently owned by corporate insiders.

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.