Insider Buying: Alumis Inc. (NASDAQ:ALMS) Major Shareholder Acquires 20,000 Shares of Stock

Alumis Inc. (NASDAQ:ALMS - Get Free Report) major shareholder Foresite Labs, Llc acquired 20,000 shares of Alumis stock in a transaction that occurred on Tuesday, May 6th. The shares were purchased at an average price of $4.34 per share, with a total value of $86,800.00. Following the transaction, the insider now owns 4,247,670 shares of the company's stock, valued at $18,434,887.80. The trade was a 0.47% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Foresite Labs, Llc also recently made the following trade(s):

• On Friday, May 2nd, Foresite Labs, Llc acquired 25,000 shares of Alumis stock. The stock was acquired at an average price of $4.62 per share, for a total transaction of $115,500.00.

Alumis Stock Performance

ALMS traded up $0.07 during trading on Monday, hitting $5.10. The stock had a trading volume of 59,800 shares, compared to its average volume of 324,203. Alumis Inc. has a twelve month low of $3.18 and a twelve month high of $13.53. The company's 50-day moving average price is $5.43 and its 200 day moving average price is $7.15.

Institutional Trading of Alumis

Hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN boosted its holdings in Alumis by 77.1% in the fourth quarter. Wells Fargo & Company MN now owns 8,779 shares of the company's stock valued at $69,000 after acquiring an additional 3,823 shares during the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in Alumis during the 4th quarter valued at $79,000. Rhumbline Advisers lifted its stake in shares of Alumis by 21.7% in the first quarter. Rhumbline Advisers now owns 16,543 shares of the company's stock worth $102,000 after acquiring an additional 2,949 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Alumis during the fourth quarter worth approximately $108,000. Finally, XTX Topco Ltd acquired a new position in Alumis during the 4th quarter worth $129,000.

Wall Street Analyst Weigh In

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

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.