Alumis (NASDAQ:ALMS) Major Shareholder Foresite Labs, Llc Purchases 200,000 Shares of Stock

Alumis Inc. (NASDAQ:ALMS) major shareholder Foresite Labs, Llc bought 200,000 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were bought at an average cost of $5.59 per share, for a total transaction of $1,118,000.00. Following the completion of the acquisition, the insider owned 2,234,129 shares of the company’s stock, valued at $12,488,781.11. This trade represents a 9.83% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major 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 purchased 190,500 shares of Alumis stock. The stock was bought at an average cost of $6.56 per share, with a total value of $1,249,680.00.
• On Tuesday, November 18th, Foresite Labs, Llc purchased 117,374 shares of Alumis stock. The shares were purchased at an average price of $6.19 per share, for a total transaction of $726,545.06.

Alumis Stock Performance

Shares of Alumis stock opened at $6.57 on Thursday. The firm has a 50-day simple moving average of $4.61 and a two-hundred day simple moving average of $4.23. Alumis Inc. has a fifty-two week low of $2.76 and a fifty-two 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 released its quarterly earnings results on Thursday, November 13th. The company reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.14). The company had revenue of $2.07 million during the quarter, compared to the consensus estimate of $3.14 million. Equities research analysts forecast that Alumis Inc. will post -8.51 EPS for the current year.

Institutional Investors Weigh In On Alumis

Hedge funds and other institutional investors have recently bought and sold shares of the company. Orbimed Advisors LLC purchased a new stake in shares of Alumis during the 2nd quarter valued at approximately $5,779,000. Velan Capital Investment Management LP purchased a new stake in shares of Alumis in the 2nd quarter valued at approximately $4,863,000. Woodline Partners LP lifted its holdings in shares of Alumis by 809.7% in the 3rd quarter. Woodline Partners LP now owns 1,751,150 shares of the company’s stock worth $6,987,000 after acquiring an additional 1,558,660 shares during the last quarter. Samsara Biocapital LLC boosted its position in shares of 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 period. Finally, Tybourne Capital Management HK Ltd. purchased a new position in shares of Alumis during the 2nd quarter worth approximately $4,198,000.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ALMS. Morgan Stanley decreased 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 restated a “sell (d-)” rating on shares of Alumis in a research report on Thursday, November 13th. Wall Street Zen downgraded shares of Alumis from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. HC Wainwright reiterated a “buy” rating and issued a $14.00 target price on shares of Alumis in a research report on Thursday, August 14th. Finally, Wells Fargo & Company assumed coverage on shares of Alumis in a research report on Friday, July 25th. They set an “overweight” rating and a $17.00 price target for the company. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company 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.