Alumis (NASDAQ:ALMS) Major Shareholder Acquires $1,118,000.00 in Stock

Alumis Inc. (NASDAQ:ALMS) major shareholder Foresite Capital Management Vi acquired 200,000 shares of the company’s stock in a transaction on Monday, November 17th. The shares were bought at an average cost of $5.59 per share, with a total value of $1,118,000.00. Following the acquisition, the insider directly owned 2,234,129 shares in the company, valued at approximately $12,488,781.11. The trade was a 9.83% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, November 19th, Foresite Capital Management Vi acquired 190,500 shares of Alumis stock. The shares were purchased 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 bought 117,374 shares of Alumis stock. The stock was purchased at an average price of $6.19 per share, for a total transaction of $726,545.06.

Alumis Stock Up 2.5%

Alumis stock traded up $0.16 during midday trading on Wednesday, reaching $6.57. 1,624,729 shares of the stock traded hands, compared to its average volume of 821,277. The stock’s fifty day moving average is $4.61 and its 200-day moving average is $4.23. Alumis Inc. has a 12 month low of $2.76 and a 12 month high of $10.49. The stock has a market cap of $683.67 million, a P/E ratio of -1.62 and a beta of -1.33.

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 analysts’ consensus estimates of ($0.92) by ($0.14). The business had revenue of $2.07 million during the quarter, compared to analyst estimates of $3.14 million. On average, equities analysts predict that Alumis Inc. will post -8.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Alumis

Several institutional investors have recently made changes to their positions in ALMS. Russell Investments Group Ltd. grew its holdings in 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 purchasing an additional 4,894 shares during the last quarter. Kera Capital Partners Inc. bought a new stake in Alumis in the second quarter worth about $32,000. Police & Firemen s Retirement System of New Jersey boosted its position in shares of Alumis by 199.7% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 10,753 shares of the company’s stock valued at $32,000 after buying an additional 7,165 shares during the period. New York State Common Retirement Fund grew its stake in shares of Alumis by 173.7% during the second quarter. New York State Common Retirement Fund now owns 11,767 shares of the company’s stock valued at $35,000 after buying an additional 7,467 shares during the last quarter. Finally, Western Wealth Management LLC purchased a new stake in shares of Alumis in the second quarter worth approximately $36,000.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Wall Street Zen lowered shares of Alumis from a “hold” rating to a “sell” rating in a research report on Saturday. Wells Fargo & Company initiated coverage on shares of Alumis in a research report on Friday, July 25th. They set an “overweight” rating and a $17.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alumis in a report on Thursday, November 13th. Morgan Stanley reduced 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. Finally, HC Wainwright restated a “buy” rating and set a $14.00 price objective on shares of Alumis in a research report on Thursday, August 14th. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.20.

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.