Tang Capital Management LLC Buys 173,406 Shares of Alumis Inc. (NASDAQ:ALMS)

Tang Capital Management LLC lifted its stake in shares of Alumis Inc. (NASDAQ:ALMS - Free Report) by 40.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 600,000 shares of the company's stock after acquiring an additional 173,406 shares during the period. Tang Capital Management LLC owned 1.27% of Alumis worth $4,716,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Barclays PLC bought a new position in shares of Alumis during the 3rd quarter worth about $197,000. JPMorgan Chase & Co. bought a new position in shares of Alumis during the 3rd quarter worth about $191,000. China Universal Asset Management Co. Ltd. bought a new position in shares of Alumis during the 4th quarter worth about $79,000. Towerview LLC boosted its position in shares of Alumis by 9.2% during the 4th quarter. Towerview LLC now owns 415,000 shares of the company's stock worth $3,262,000 after purchasing an additional 35,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Alumis by 4.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 113,401 shares of the company's stock worth $891,000 after purchasing an additional 4,808 shares in the last quarter.

Analysts Set New Price Targets

Several research analysts have weighed in on ALMS shares. Oppenheimer lowered their price objective on shares of Alumis from $26.00 to $25.00 and set an "outperform" rating on the stock in a report on Thursday, May 15th. Cantor Fitzgerald restated an "overweight" rating on shares of Alumis in a 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 report on Wednesday, April 30th. Seven analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Alumis currently has a consensus rating of "Buy" and a consensus price target of $24.86.

Alumis Stock Performance

Shares of NASDAQ ALMS traded down $1.07 during trading on Tuesday, hitting $4.88. The stock had a trading volume of 1,901,433 shares, compared to its average volume of 341,263. Alumis Inc. has a 12 month low of $3.18 and a 12 month high of $13.53. The firm has a fifty day moving average of $5.47 and a two-hundred day moving average of $6.86.

Alumis (NASDAQ:ALMS - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The company reported ($1.82) EPS for the quarter, missing the consensus estimate of ($1.47) by ($0.35). As a group, equities research analysts predict that Alumis Inc. will post -8.51 EPS for the current fiscal year.

Insider Buying and Selling at Alumis

In other news, major shareholder Foresite Labs, Llc acquired 20,000 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was purchased at an average price of $4.34 per share, for a total transaction of $86,800.00. Following the purchase, the insider now owns 4,247,670 shares in the company, valued at approximately $18,434,887.80. This represents a 0.47% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Srinivas Akkaraju purchased 160,370 shares of Alumis stock in a transaction that occurred on Monday, May 5th. The shares were bought at an average price of $4.67 per share, with a total value of $748,927.90. Following the transaction, the director now owns 3,586,788 shares of the company's stock, valued at $16,750,299.96. This trade represents a 4.68% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 397,044 shares of company stock worth $1,891,895.

Alumis 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.