Alumis Inc. (NASDAQ:ALMS) Stake Lifted by Tang Capital Management LLC

Tang Capital Management LLC lifted its stake in shares of Alumis Inc. (NASDAQ:ALMS - Free Report) by 40.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 600,000 shares of the company's stock after buying an additional 173,406 shares during the quarter. Tang Capital Management LLC owned approximately 1.27% of Alumis worth $4,716,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Wells Fargo & Company MN boosted its stake in Alumis by 77.1% during the 4th 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. Northern Trust Corp raised its stake in shares of Alumis by 4.3% in the 4th quarter. Northern Trust Corp now owns 111,326 shares of the company's stock valued at $875,000 after purchasing an additional 4,587 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Alumis by 4.4% during the fourth 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 during the last quarter. Barclays PLC lifted its position in shares of Alumis by 33.9% during the fourth quarter. Barclays PLC now owns 24,581 shares of the company's stock worth $193,000 after purchasing an additional 6,221 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Alumis by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 315,571 shares of the company's stock worth $2,481,000 after purchasing an additional 9,891 shares in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ALMS. HC Wainwright restated a "buy" rating and set a $14.00 price objective on shares of Alumis in a research note on Wednesday, April 30th. Oppenheimer lowered their price target on Alumis from $26.00 to $25.00 and set an "outperform" rating for the company in a report on Thursday, May 15th. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Alumis in a research note on Thursday, March 20th. Seven equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Alumis has an average rating of "Buy" and an average target price of $24.86.

Alumis Stock Up 0.2%

Shares of Alumis stock traded up $0.01 on Friday, reaching $4.85. 445,305 shares of the company were exchanged, compared to its average volume of 360,960. 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 $5.49 and its two-hundred day moving average is $6.80.

Alumis (NASDAQ:ALMS - Get Free Report) last issued its earnings results on Wednesday, May 14th. The company reported ($1.82) earnings per share for the quarter, missing the consensus estimate of ($1.47) by ($0.35). Equities research analysts forecast that Alumis Inc. will post -8.51 earnings per share for the current year.

Insider Activity at Alumis

In other Alumis news, CEO Martin Babler bought 15,650 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were purchased at an average price of $6.44 per share, with a total value of $100,786.00. Following the purchase, the chief executive officer now directly owns 106,454 shares of the company's stock, valued at approximately $685,563.76. The trade was a 17.23% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Srinivas Akkaraju purchased 159,920 shares of Alumis stock in a transaction on Friday, May 2nd. The shares were acquired at an average price of $4.55 per share, with a total value of $727,636.00. Following the transaction, the director now directly owns 3,426,418 shares in the company, valued at $15,590,201.90. This trade represents a 4.90% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 397,044 shares of company stock worth $1,891,895 in the last ninety days.

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.