Foresite Labs, Llc Buys 25,000 Shares of Alumis Inc. (NASDAQ:ALMS) Stock

Alumis Inc. (NASDAQ:ALMS) major shareholder Foresite Labs, Llc acquired 25,000 shares of the firm’s stock in a transaction on Friday, May 2nd. The shares were purchased at an average cost of $4.62 per share, for a total transaction of $115,500.00. Following the completion of the purchase, the insider now directly owns 4,227,670 shares of the company’s stock, valued at approximately $19,531,835.40. The trade was a 0.59 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 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 Tuesday, May 6th, Foresite Labs, Llc bought 20,000 shares of Alumis stock. The stock was acquired at an average cost of $4.34 per share, for a total transaction of $86,800.00.

Alumis Stock Performance

Alumis stock opened at $5.03 on Friday. Alumis Inc. has a 1 year low of $3.18 and a 1 year high of $13.53. The company’s 50-day moving average is $5.43 and its two-hundred day moving average is $7.21.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ALMS shares. HC Wainwright reissued a “buy” rating and issued a $14.00 price objective on shares of Alumis in a research note on Wednesday, April 30th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Alumis in a research report on Thursday, March 20th. Finally, Oppenheimer initiated coverage on shares of Alumis in a research report on Thursday, January 30th. They issued an “outperform” rating and a $32.00 price objective for the company. Seven investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $25.86.

Hedge Funds Weigh In On Alumis

A number of hedge funds and other institutional investors have recently bought and sold shares of ALMS. Wells Fargo & Company MN lifted its stake in shares of Alumis by 77.1% in the 4th quarter. Wells Fargo & Company MN now owns 8,779 shares of the company’s stock valued at $69,000 after purchasing an additional 3,823 shares during the period. China Universal Asset Management Co. Ltd. acquired a new position in Alumis in the fourth quarter valued at about $79,000. Rhumbline Advisers lifted its stake in Alumis by 21.7% in the first quarter. Rhumbline Advisers now owns 16,543 shares of the company’s stock valued at $102,000 after buying an additional 2,949 shares during the period. Marshall Wace LLP bought a new position in Alumis during the fourth quarter worth about $108,000. Finally, XTX Topco Ltd acquired a new position in shares of Alumis during the 4th quarter worth about $129,000.

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.