Alumis (NASDAQ:ALMS) Major Shareholder Foresite Capital Management Vi Purchases 117,374 Shares

Alumis Inc. (NASDAQ:ALMS) major shareholder Foresite Capital Management Vi bought 117,374 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The shares were purchased at an average cost of $6.19 per share, with a total value of $726,545.06. Following the acquisition, the insider directly owned 2,351,503 shares of the company’s stock, valued at approximately $14,555,803.57. This trade represents a 5.25% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Wednesday, November 19th, Foresite Capital Management Vi bought 190,500 shares of Alumis stock. The stock was purchased at an average price of $6.56 per share, for a total transaction of $1,249,680.00.
• On Monday, November 17th, Foresite Capital Management Vi purchased 200,000 shares of Alumis stock. The stock was acquired at an average price of $5.59 per share, for a total transaction of $1,118,000.00.

Alumis Price Performance

ALMS traded up $0.16 during trading on Wednesday, reaching $6.57. 1,624,729 shares of the company’s stock were exchanged, compared to its average volume of 821,277. Alumis Inc. has a 1 year low of $2.76 and a 1 year high of $10.49. The company’s fifty day simple moving average is $4.61 and its 200-day simple moving average is $4.23. The stock has a market capitalization 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 for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.14). The firm had revenue of $2.07 million for the quarter, compared to analysts’ expectations of $3.14 million. Equities analysts forecast that Alumis Inc. will post -8.51 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Alumis

A number of institutional investors have recently modified their holdings of ALMS. Bank of New York Mellon Corp increased its stake in shares of Alumis by 37.0% in the 1st quarter. Bank of New York Mellon Corp now owns 42,403 shares of the company’s stock valued at $260,000 after purchasing an additional 11,453 shares in the last quarter. Towerview LLC grew its holdings in Alumis by 3.6% in the first quarter. Towerview LLC now owns 430,000 shares of the company’s stock valued at $2,640,000 after purchasing an additional 15,000 shares during the period. BML Capital Management LLC acquired a new stake in Alumis in the first quarter valued at approximately $305,000. Charles Schwab Investment Management Inc. increased its position in shares of Alumis by 12.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 127,854 shares of the company’s stock valued at $785,000 after buying an additional 14,453 shares in the last quarter. Finally, Invesco Ltd. purchased a new stake in shares of Alumis in the first quarter valued at approximately $164,000.

About Alumis

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.