General Atlantic L.P. Makes New Investment in Alumis Inc. $ALMS

General Atlantic L.P. acquired a new stake in Alumis Inc. (NASDAQ:ALMS) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,297,530 shares of the company’s stock, valued at approximately $3,893,000. Alumis makes up about 0.1% of General Atlantic L.P.’s holdings, making the stock its 14th largest holding. General Atlantic L.P. owned about 2.38% of Alumis as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ALMS. Kera Capital Partners Inc. acquired a new stake in shares of Alumis in the 2nd quarter worth about $32,000. Police & Firemen s Retirement System of New Jersey raised its stake in shares of Alumis by 199.7% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 10,753 shares of the company’s stock worth $32,000 after purchasing an additional 7,165 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Alumis by 173.7% in the second quarter. New York State Common Retirement Fund now owns 11,767 shares of the company’s stock valued at $35,000 after purchasing an additional 7,467 shares in the last quarter. Western Wealth Management LLC bought a new position in shares of Alumis in the second quarter valued at approximately $36,000. Finally, ProShare Advisors LLC purchased a new position in shares of Alumis during the second quarter valued at approximately $40,000.

Analyst Ratings Changes

ALMS has been the topic of several recent analyst reports. Wall Street Zen upgraded Alumis from a “sell” rating to a “hold” rating in a research note on Saturday, December 6th. Morgan Stanley dropped their price target on shares of Alumis from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Friday, August 15th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Alumis in a report on Monday. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.20.

Alumis Stock Performance

Shares of NASDAQ:ALMS opened at $11.49 on Friday. The company has a market capitalization of $1.20 billion, a P/E ratio of -2.84 and a beta of -1.87. The company’s 50-day moving average is $6.23 and its 200 day moving average is $4.70. Alumis Inc. has a fifty-two week low of $2.76 and a fifty-two week high of $12.44.

Alumis (NASDAQ:ALMS) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($1.06) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.14). The business had revenue of $2.07 million for the quarter, compared to analyst estimates of $3.14 million. As a group, research analysts predict that Alumis Inc. will post -8.51 earnings per share for the current year.

Insider Transactions at Alumis

In other news, major shareholder Foresite Capital Management Vi purchased 200,000 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were purchased at an average price of $5.59 per share, with a total value of $1,118,000.00. Following the transaction, the insider directly owned 2,234,129 shares of the company’s stock, valued at approximately $12,488,781.11. This represents a 9.83% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Foresite Labs, Llc acquired 200,000 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The stock was purchased at an average cost of $5.59 per share, with a total value of $1,118,000.00. Following the acquisition, the insider owned 2,234,129 shares in the company, valued at $12,488,781.11. The trade was a 9.83% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 2,788,875 shares of company stock valued at $18,352,357 in the last three months. 40.70% of the stock is currently owned by company insiders.

Alumis 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.