Alumis (NASDAQ:ALMS) Major Shareholder Buys $1,249,680.00 in Stock

Alumis Inc. (NASDAQ:ALMS) major shareholder Foresite Labs, Llc purchased 190,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The stock was purchased at an average price of $6.56 per share, for a total transaction of $1,249,680.00. Following the purchase, the insider owned 2,542,003 shares in the company, valued at $16,675,539.68. This represents a 8.10% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

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

Alumis Stock Up 2.5%

Shares of NASDAQ ALMS traded up $0.16 during midday trading on Wednesday, hitting $6.57. The stock had a trading volume of 1,624,729 shares, compared to its average volume of 821,277. The business’s 50 day moving average is $4.61 and its 200-day moving average is $4.23. Alumis Inc. has a 52 week low of $2.76 and a 52 week high of $10.49. The company 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 announced its quarterly earnings results on Thursday, November 13th. The company reported ($1.06) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.14). The company had revenue of $2.07 million for the quarter, compared to the consensus estimate of $3.14 million. As a group, analysts expect that Alumis Inc. will post -8.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ALMS. Russell Investments Group Ltd. grew its stake 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 purchasing an additional 4,894 shares during the period. Kera Capital Partners Inc. purchased a new position in shares of Alumis in the second quarter worth approximately $32,000. Police & Firemen s Retirement System of New Jersey grew its position in 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 increased its holdings in 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 bought a new position in Alumis in the second 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.