Foresite Capital Management V LLC Has $45.43 Million Stake in Alumis Inc. (NASDAQ:ALMS)

Foresite Capital Management V LLC raised its holdings in Alumis Inc. (NASDAQ:ALMS - Free Report) by 3.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,779,348 shares of the company's stock after buying an additional 194,459 shares during the period. Alumis comprises about 37.8% of Foresite Capital Management V LLC's holdings, making the stock its largest position. Foresite Capital Management V LLC owned approximately 12.24% of Alumis worth $45,426,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Wells Fargo & Company MN increased its holdings in Alumis by 77.1% during the 4th quarter. Wells Fargo & Company MN now owns 8,779 shares of the company's stock worth $69,000 after purchasing an additional 3,823 shares in the last quarter. Northern Trust Corp grew its holdings in Alumis by 4.3% during the fourth quarter. Northern Trust Corp now owns 111,326 shares of the company's stock worth $875,000 after buying an additional 4,587 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Alumis by 4.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 113,401 shares of the company's stock valued at $891,000 after buying an additional 4,808 shares during the last quarter. Barclays PLC lifted its stake in Alumis by 33.9% during the 4th quarter. Barclays PLC now owns 24,581 shares of the company's stock valued at $193,000 after acquiring an additional 6,221 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Alumis by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 315,571 shares of the company's stock worth $2,481,000 after acquiring an additional 9,891 shares during the last quarter.

Wall Street Analysts Forecast Growth

ALMS has been the subject of a number of recent analyst reports. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Alumis in a research report on Thursday, March 20th. Oppenheimer initiated coverage on Alumis in a research note on Thursday, January 30th. They set an "outperform" rating and a $32.00 target price on the stock. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $14.00 price objective on shares of Alumis in a research report on Wednesday, April 30th. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $25.86.

Insider Activity at Alumis

In related news, CEO Martin Babler bought 15,650 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The stock was bought at an average cost of $6.44 per share, for a total transaction of $100,786.00. Following the completion of the transaction, the chief executive officer now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Srinivas Akkaraju purchased 160,370 shares of the stock in a transaction on Monday, May 5th. The shares were purchased at an average price of $4.67 per share, for a total transaction of $748,927.90. Following the transaction, the director now directly owns 3,586,788 shares of the company's stock, valued at approximately $16,750,299.96. This represents a 4.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 397,044 shares of company stock valued at $1,891,895.

Alumis Price Performance

Shares of NASDAQ:ALMS opened at $5.03 on Friday. Alumis Inc. has a one year low of $3.18 and a one year high of $13.53. The firm has a fifty day moving average price of $5.43 and a two-hundred day moving average price of $7.21.

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.

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