Alumis Inc. (NASDAQ:ALMS) Major Shareholder Purchases $86,800.00 in Stock

Alumis Inc. (NASDAQ:ALMS - Get Free Report) major shareholder Foresite Labs, Llc purchased 20,000 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was acquired at an average cost of $4.34 per share, with a total value of $86,800.00. Following the transaction, the insider now directly owns 4,247,670 shares in the company, valued at $18,434,887.80. This trade represents a 0.47 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed 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 Friday, May 2nd, Foresite Labs, Llc acquired 25,000 shares of Alumis stock. The stock was purchased at an average price of $4.62 per share, for a total transaction of $115,500.00.

Alumis Stock Performance

Shares of ALMS traded down $0.29 during midday trading on Friday, hitting $5.03. 322,607 shares of the stock traded hands, compared to its average volume of 325,359. Alumis Inc. has a 1-year low of $3.18 and a 1-year high of $13.53. The business's 50 day moving average price is $5.43 and its two-hundred day moving average price is $7.18.

Institutional Investors Weigh In On Alumis

Several large investors have recently made changes to their positions in the company. Wells Fargo & Company MN increased its stake in shares of Alumis by 77.1% during 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 period. China Universal Asset Management Co. Ltd. bought a new stake in Alumis in the fourth quarter worth about $79,000. Marshall Wace LLP acquired a new stake in Alumis in the 4th quarter valued at about $108,000. XTX Topco Ltd bought a new position in shares of Alumis during the 4th quarter valued at about $129,000. Finally, Rhumbline Advisers grew its stake in shares of Alumis by 21.7% in the 1st quarter. Rhumbline Advisers now owns 16,543 shares of the company's stock worth $102,000 after purchasing an additional 2,949 shares during the last quarter.

Analyst Ratings Changes

ALMS has been the topic of a number of research reports. Oppenheimer initiated coverage on Alumis in a research note on Thursday, January 30th. They set an "outperform" rating and a $32.00 price target on the stock. Cantor Fitzgerald reiterated an "overweight" rating on shares of Alumis in a research report on Thursday, March 20th. Finally, HC Wainwright restated a "buy" rating and set a $14.00 price objective on shares of Alumis in a research report on Wednesday, April 30th. Seven equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Alumis has a consensus rating of "Buy" and an average 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.