Alumis (NASDAQ:ALMS) Major Shareholder Foresite Labs, Llc Acquires 411,764 Shares

Alumis Inc. (NASDAQ:ALMS) major shareholder Foresite Labs, Llc bought 411,764 shares of the firm’s stock in a transaction on Thursday, January 8th. The stock was bought at an average cost of $17.00 per share, for a total transaction of $6,999,988.00. Following the transaction, the insider directly owned 5,702,536 shares of the company’s stock, valued at $96,943,112. The trade was a 7.78% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Foresite Labs, Llc also recently made the following trade(s):

• On Wednesday, November 19th, Foresite Labs, Llc purchased 190,500 shares of Alumis stock. The shares were bought at an average price of $6.56 per share, with a total value of $1,249,680.00.
• On Tuesday, November 18th, Foresite Labs, Llc acquired 117,374 shares of Alumis stock. The stock was bought at an average price of $6.19 per share, for a total transaction of $726,545.06.
• On Monday, November 17th, Foresite Labs, Llc bought 200,000 shares of Alumis stock. The stock was bought at an average price of $5.59 per share, with a total value of $1,118,000.00.

Alumis Stock Up 7.8%

Shares of NASDAQ ALMS opened at $21.09 on Tuesday. The business’s 50 day moving average is $9.54 and its two-hundred day moving average is $6.08. Alumis Inc. has a 52-week low of $2.76 and a 52-week high of $22.30. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of -5.21 and a beta of -2.09.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ALMS. Russell Investments Group Ltd. lifted its stake in Alumis by 320.9% in the third 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 last quarter. Kera Capital Partners Inc. purchased a new stake in Alumis in the 2nd quarter valued at $32,000. Police & Firemen s Retirement System of New Jersey boosted its stake in Alumis by 199.7% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 10,753 shares of the company’s stock worth $32,000 after purchasing an additional 7,165 shares during the period. New York State Common Retirement Fund grew its position in Alumis by 173.7% during the 2nd quarter. New York State Common Retirement Fund now owns 11,767 shares of the company’s stock worth $35,000 after purchasing an additional 7,467 shares during the last quarter. Finally, Western Wealth Management LLC acquired a new position in Alumis in the second quarter valued at $36,000.

Alumis News Roundup

Here are the key news stories impacting Alumis this week:

• Positive Sentiment: Major insider/affiliate buying — Director James Tananbaum / Foresite Labs (Foresite Capital) purchased 411,764 ALMS shares at $17.00 (≈$7.0M), increasing his stake by ~7.8%, signaling strong insider conviction. Insider Buying: Alumis (NASDAQ:ALMS) Director Acquires 411,764 Shares of Stock
• Positive Sentiment: Analyst optimism and higher price targets — multiple firms (Wells Fargo, Guggenheim, Oppenheimer, UBS, Citi) have recently issued “buy”/”outperform” ratings and lifted targets, which supports demand and helped lift sentiment. MarketBeat: ALMS coverage
• Neutral Sentiment: Short interest report is effectively meaningless/zero in the latest snapshot (reported value shows 0 shares and NaN change), so short-covering is unlikely to be a substantive factor at the moment.
• Negative Sentiment: Fundamentals reminder — the company missed on the most recent quarterly EPS and revenue (Nov. 13 results: EPS -$1.06 vs -$0.92 expected; revenue $2.07M vs $3.14M expected), keeping near-term profitability and execution risks on the table. MarketBeat: ALMS coverage

Analysts Set New Price Targets

ALMS has been the subject of several recent research reports. Oppenheimer reissued an “outperform” rating and issued a $50.00 price objective on shares of Alumis in a research note on Tuesday, January 6th. Guggenheim raised their price target on shares of Alumis from $18.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, January 7th. Citigroup reaffirmed an “outperform” rating on shares of Alumis in a research report on Tuesday, January 6th. Leerink Partners lifted 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. Finally, Morgan Stanley increased their price objective on shares of Alumis from $22.00 to $33.00 and gave the company an “overweight” rating in a research report on Wednesday, January 7th. Nine research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Alumis has a consensus rating of “Moderate Buy” and an average price target of $37.67.

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.