Alumis (NASDAQ:ALMS) Major Shareholder Foresite Capital Management Vi Acquires 190,500 Shares of Stock

Alumis Inc. (NASDAQ:ALMS) major shareholder Foresite Capital Management Vi acquired 190,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The shares were purchased at an average price of $6.56 per share, with a total value of $1,249,680.00. Following the completion of the acquisition, the insider owned 2,542,003 shares of the company’s stock, valued at $16,675,539.68. This represents a 8.10% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• 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.
• On Monday, November 17th, Foresite Capital Management Vi purchased 200,000 shares of Alumis stock. The shares were 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 ALMS opened at $6.57 on Thursday. Alumis Inc. has a twelve month low of $2.76 and a twelve month high of $10.49. The stock has a market capitalization of $683.67 million, a P/E ratio of -1.62 and a beta of -1.33. The company has a 50 day moving average of $4.61 and a 200-day moving average of $4.23.

Alumis (NASDAQ:ALMS) last announced its earnings results on Thursday, November 13th. The company reported ($1.06) EPS 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 analyst estimates of $3.14 million. On average, sell-side analysts anticipate that Alumis Inc. will post -8.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alumis

A number of large investors have recently made changes to their positions in ALMS. Samsara Biocapital LLC lifted its holdings in Alumis by 47.0% during the 2nd quarter. Samsara Biocapital LLC now owns 4,801,370 shares of the company’s stock worth $14,404,000 after purchasing an additional 1,534,872 shares during the last quarter. Foresite Capital Management VI LLC increased its position in Alumis by 1.1% during the 2nd quarter. Foresite Capital Management VI LLC now owns 4,247,670 shares of the company’s stock worth $12,743,000 after buying an additional 45,000 shares during the period. Vanguard Group Inc. increased its position in Alumis by 18.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,029,615 shares of the company’s stock worth $16,078,000 after buying an additional 625,404 shares during the period. Trium Capital LLP lifted its holdings in shares of Alumis by 17.9% during the third quarter. Trium Capital LLP now owns 3,122,111 shares of the company’s stock worth $12,457,000 after buying an additional 474,072 shares in the last quarter. Finally, Orbimed Advisors LLC bought a new stake in shares of Alumis in the second quarter valued at about $5,779,000.

Wall Street Analysts Forecast Growth

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