Alumis Inc. (NASDAQ:ALMS) Short Interest Up 93.1% in January

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 volume of 10,417,053 shares, the short-interest ratio is currently 0.8 days. Currently, 14.0% of the shares of the stock are sold short. Currently, 14.0% of the shares of the stock are sold short. Based on an average daily volume of 10,417,053 shares, the short-interest ratio is currently 0.8 days.

Insider Activity at Alumis

In other news, Director Srinivas Akkaraju bought 588,235 shares of Alumis stock in a transaction on Friday, January 9th. The stock was acquired at an average price of $17.00 per share, with a total value of $9,999,995.00. Following the completion of the acquisition, the director directly owned 1,853,488 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available through this link. Also, major shareholder Foresite Labs, Llc bought 411,764 shares of the firm’s stock in a transaction dated Thursday, January 8th. The stock was purchased at an average price of $17.00 per share, for a total transaction of $6,999,988.00. Following the transaction, 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 SEC filing for this purchase provides additional information. Insiders have bought 4,612,402 shares of company stock worth $49,352,316 in the last quarter. Company insiders own 40.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Alumis by 64.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,535 shares of the company’s stock worth $77,000 after acquiring an additional 4,926 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Alumis by 24.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 61,645 shares of the company’s stock valued at $378,000 after purchasing an additional 11,949 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Alumis in the 1st quarter valued at $111,000. Rhumbline Advisers grew its holdings in shares of Alumis by 21.7% during the 1st quarter. Rhumbline Advisers now owns 16,543 shares of the company’s stock worth $102,000 after purchasing an additional 2,949 shares during the period. Finally, Blair William & Co. IL acquired a new stake in shares of Alumis during the 2nd quarter worth about $200,000.

Analyst Upgrades and Downgrades

ALMS has been the topic of a number of research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Alumis in a report on Monday, December 29th. Citigroup reiterated an “outperform” rating on shares of Alumis in a research report on Tuesday, January 6th. UBS Group reissued an “outperform” rating on shares of Alumis in a research note on Tuesday, January 6th. Guggenheim upped their price objective on shares of Alumis from $18.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th. Finally, Leerink Partners increased their price objective on shares of Alumis from $20.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday, January 6th. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $37.50.

Alumis Stock Down 3.1%

NASDAQ ALMS opened at $26.84 on Friday. The business’s fifty day simple moving average is $14.71 and its 200-day simple moving average is $8.03. The firm has a market cap of $2.80 billion, a PE ratio of -6.63 and a beta of -2.09. Alumis has a 52 week low of $2.76 and a 52 week high of $28.29.

Alumis (NASDAQ:ALMS) last released its quarterly earnings data on Thursday, November 13th. The company reported ($1.06) earnings per share (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. Research analysts expect that Alumis will post -8.51 EPS for the current 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.