Alumis (NASDAQ:ALMS) Major Shareholder Foresite Labs, Llc Purchases 117,374 Shares

Alumis Inc. (NASDAQ:ALMS) major shareholder Foresite Labs, Llc purchased 117,374 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The shares were acquired at an average price of $6.19 per share, for a total transaction of $726,545.06. Following the completion of the acquisition, the insider directly owned 2,351,503 shares of the company’s stock, valued at $14,555,803.57. This trade represents a 5.25% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company’s stock 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 acquired 190,500 shares of Alumis stock. The stock was acquired at an average price of $6.56 per share, with a total value of $1,249,680.00.
• On Monday, November 17th, Foresite Labs, Llc bought 200,000 shares of Alumis stock. The shares were acquired at an average cost of $5.59 per share, with a total value of $1,118,000.00.

Alumis Price Performance

Shares of NASDAQ ALMS traded up $0.16 during mid-day trading on Wednesday, reaching $6.57. 1,624,729 shares of the company’s stock were exchanged, compared to its average volume of 821,277. The firm has a 50-day moving average price of $4.61 and a two-hundred day moving average price of $4.23. The firm has a market capitalization of $683.67 million, a price-to-earnings ratio of -1.62 and a beta of -1.33. Alumis Inc. has a 52 week low of $2.76 and a 52 week high of $10.49.

Alumis (NASDAQ:ALMS) last posted 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 company had revenue of $2.07 million for the quarter, compared to analyst estimates of $3.14 million. As a group, sell-side analysts forecast that Alumis Inc. will post -8.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ALMS has been the topic of several research analyst reports. Morgan Stanley dropped their price objective on Alumis from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Friday, August 15th. Wall Street Zen cut Alumis from a “hold” rating to a “sell” rating in a research report on Saturday. Wells Fargo & Company assumed coverage on Alumis in a research note on Friday, July 25th. They set an “overweight” rating and a $17.00 price target for the company. HC Wainwright restated a “buy” rating and issued a $14.00 price objective on shares of Alumis in a research note on Thursday, August 14th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alumis in a report on Thursday, November 13th. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $19.20.

Institutional Investors Weigh In On Alumis

Several hedge funds and other institutional investors have recently modified their holdings of ALMS. Russell Investments Group Ltd. boosted its position in shares of 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 acquiring an additional 4,894 shares during the period. CWM LLC increased its holdings in Alumis by 1,028.7% during the 3rd quarter. CWM LLC now owns 10,384 shares of the company’s stock worth $41,000 after acquiring an additional 9,464 shares during the period. Kera Capital Partners Inc. purchased a new stake in Alumis in the 2nd quarter worth approximately $32,000. Corebridge Financial Inc. boosted its holdings in Alumis by 53.0% in the 1st quarter. Corebridge Financial Inc. now owns 10,658 shares of the company’s stock valued at $65,000 after purchasing an additional 3,693 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey boosted its holdings in Alumis by 199.7% in 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.

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.