Alumis (NASDAQ:ALMS) Major Shareholder Foresite Labs, Llc Acquires 200,000 Shares

Alumis Inc. (NASDAQ:ALMS) major shareholder Foresite Labs, Llc purchased 200,000 shares of Alumis stock in a transaction dated Monday, November 17th. The shares were bought at an average price of $5.59 per share, with a total value of $1,118,000.00. Following the completion of the transaction, the insider owned 2,234,129 shares in the company, valued at approximately $12,488,781.11. This trade represents a 9.83% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases 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 purchased at an average price of $6.56 per share, for a total transaction of $1,249,680.00.
• On Tuesday, November 18th, Foresite Labs, Llc acquired 117,374 shares of Alumis stock. The stock was purchased at an average cost of $6.19 per share, with a total value of $726,545.06.

Alumis Stock Performance

ALMS stock traded up $0.16 during midday trading on Wednesday, hitting $6.57. 1,624,729 shares of the stock were exchanged, compared to its average volume of 821,277. The stock’s 50-day moving average price is $4.61 and its 200-day moving average price is $4.23. The stock has a market cap of $683.67 million, a price-to-earnings ratio of -1.62 and a beta of -1.33. Alumis Inc. has a fifty-two week low of $2.76 and a fifty-two week high of $10.49.

Alumis (NASDAQ:ALMS) last announced 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 firm had revenue of $2.07 million during the quarter, compared to analyst estimates of $3.14 million. Research analysts anticipate that Alumis Inc. will post -8.51 EPS for the current year.

Institutional Trading of Alumis

A number of hedge funds have recently bought and sold shares of ALMS. Bank of New York Mellon Corp grew its stake in Alumis by 37.0% in the 1st quarter. Bank of New York Mellon Corp now owns 42,403 shares of the company’s stock worth $260,000 after acquiring an additional 11,453 shares during the period. Towerview LLC boosted its holdings in shares of Alumis by 3.6% during the first 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 purchased a new stake in shares of Alumis in the first quarter valued at $305,000. Charles Schwab Investment Management Inc. increased its stake in 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 purchasing an additional 14,453 shares during the last quarter. Finally, Invesco Ltd. purchased a new position in Alumis during the first quarter worth about $164,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ALMS shares. Weiss Ratings restated 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 research report on Saturday. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 target price on shares of Alumis in a research note on Thursday, August 14th. Wells Fargo & Company assumed coverage on Alumis in a research report on Friday, July 25th. They set an “overweight” rating and a $17.00 price target for the company. Finally, Morgan Stanley cut their price target on Alumis from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Friday, August 15th. Six research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.20.

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.