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

Alumis Inc. (NASDAQ:ALMS) major shareholder Foresite Capital Management Vi acquired 190,500 shares of the stock in a transaction dated Wednesday, November 19th. The stock was acquired at an average cost of $6.56 per share, with a total value of $1,249,680.00. Following the transaction, the insider owned 2,542,003 shares of the company’s stock, valued at approximately $16,675,539.68. This trade represents a 8.10% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s stock 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 shares were acquired 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 bought 200,000 shares of Alumis stock. The stock was bought at an average cost of $5.59 per share, for a total transaction of $1,118,000.00.

Alumis Stock Up 5.3%

Shares of ALMS opened at $6.92 on Friday. Alumis Inc. has a fifty-two week low of $2.76 and a fifty-two week high of $10.49. The company’s fifty day moving average is $4.66 and its two-hundred day moving average is $4.25. The firm has a market cap of $720.10 million, a PE ratio of -1.71 and a beta of -1.33.

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

Wall Street Analyst Weigh In

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

Institutional Trading of Alumis

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp boosted its holdings in Alumis by 37.0% in the first 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 during the last quarter. Towerview LLC increased its holdings in Alumis by 3.6% during the 1st quarter. Towerview LLC now owns 430,000 shares of the company’s stock worth $2,640,000 after purchasing an additional 15,000 shares during the last quarter. BML Capital Management LLC acquired a new position in shares of Alumis in the 1st quarter valued at approximately $305,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Alumis by 12.7% during the 1st 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 during the last quarter. Finally, Invesco Ltd. acquired a new stake in shares of Alumis during the first quarter worth 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.