Principal Financial Group Inc. Buys Shares of 1,058,051 Alumis Inc. $ALMS

Principal Financial Group Inc. purchased a new stake in Alumis Inc. (NASDAQ:ALMS) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 1,058,051 shares of the company’s stock, valued at approximately $23,309,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Russell Investments Group Ltd. raised its position in shares of Alumis by 320.9% during 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 period. New York State Common Retirement Fund grew its position in Alumis by 173.7% in 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 period. Strs Ohio increased its stake in Alumis by 300.0% during the first quarter. Strs Ohio now owns 2,000 shares of the company’s stock worth $44,000 after acquiring an additional 1,500 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Alumis by 26.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,724 shares of the company’s stock worth $46,000 after acquiring an additional 979 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in Alumis by 104.9% in the third quarter. BNP Paribas Financial Markets now owns 11,770 shares of the company’s stock valued at $47,000 after purchasing an additional 6,027 shares during the period.

Alumis Trading Down 2.4%

NASDAQ:ALMS opened at $27.98 on Tuesday. Alumis Inc. has a 12-month low of $3.24 and a 12-month high of $31.35. The firm has a market cap of $3.57 billion, a PE ratio of -14.13 and a beta of -0.73. The stock has a fifty day moving average price of $24.12 and a 200 day moving average price of $24.28.

Alumis (NASDAQ:ALMS) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.73) by ($0.01). The company had revenue of $1.74 million for the quarter, compared to analysts’ expectations of $2.10 million. Alumis had a negative return on equity of 88.79% and a negative net margin of 2,825.70%. Equities analysts forecast that Alumis Inc. will post -2.87 EPS for the current year.

Insider Activity at Alumis

In other news, insider Sanam Pangali sold 5,000 shares of the business’s 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 of the company’s stock, valued at approximately $311,108. The trade was a 31.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 33.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Oppenheimer upped their price target on Alumis from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Monday, March 30th. HC Wainwright lowered shares of Alumis from a “buy” rating to a “neutral” rating and set a $25.00 price objective on the stock. in a report on Friday, May 15th. Morgan Stanley reaffirmed an “overweight” rating and issued a $39.00 target price on shares of Alumis in a research report on Friday, May 15th. Wall Street Zen lowered shares of Alumis from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Alumis in a research report on Tuesday, July 7th. 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 assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $40.30.

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.