Alumis (NASDAQ:ALMS) Major Shareholder Buys $6,999,988.00 in Stock

Alumis Inc. (NASDAQ:ALMS) major shareholder Foresite Capital Management Vi purchased 411,764 shares of the business’s stock in a transaction dated Thursday, January 8th. The shares were acquired at an average cost of $17.00 per share, for a total transaction of $6,999,988.00. Following the acquisition, the insider owned 5,702,536 shares of the company’s stock, valued at approximately $96,943,112. The trade was a 7.78% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Foresite Capital Management Vi also recently made the following trade(s):

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

Alumis Stock Performance

Shares of NASDAQ:ALMS traded up $1.53 during midday trading on Monday, hitting $21.09. The company’s stock had a trading volume of 4,196,516 shares, compared to its average volume of 5,247,834. Alumis Inc. has a fifty-two week low of $2.76 and a fifty-two week high of $22.30. The stock’s 50 day simple moving average is $9.54 and its 200 day simple moving average is $6.08. The stock has a market capitalization 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 (EPS) for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.14). The business had revenue of $2.07 million during the quarter, compared to the consensus estimate of $3.14 million. As a group, analysts anticipate that Alumis Inc. will post -8.51 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ALMS. Wells Fargo & Company boosted their price target on Alumis from $17.00 to $39.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 6th. Morgan Stanley lifted their price target on Alumis from $22.00 to $33.00 and gave the company an “overweight” rating in a research note on Wednesday, January 7th. Guggenheim raised their price objective on Alumis from $18.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, January 7th. Citigroup reissued an “outperform” rating on shares of Alumis in a research note on Tuesday, January 6th. Finally, Wall Street Zen upgraded shares of Alumis from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Alumis presently has a consensus rating of “Moderate Buy” and an average target price of $37.67.

Hedge Funds Weigh In On Alumis

A number of institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. grew its holdings in shares of Alumis by 320.9% during 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 worth approximately $32,000. Police & Firemen s Retirement System of New Jersey raised its position in shares of 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 valued at $32,000 after purchasing an additional 7,165 shares during the period. New York State Common Retirement Fund lifted its position in shares of Alumis by 173.7% in the second quarter. New York State Common Retirement Fund now owns 11,767 shares of the company’s stock valued at $35,000 after acquiring an additional 7,467 shares in the last quarter. Finally, Western Wealth Management LLC bought a new position in Alumis in the 2nd quarter worth approximately $36,000.

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.