4,202,670 Shares in Alumis Inc. (NASDAQ:ALMS) Purchased by Foresite Capital Management VI LLC

Foresite Capital Management VI LLC acquired a new stake in shares of Alumis Inc. (NASDAQ:ALMS - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,202,670 shares of the company's stock, valued at approximately $33,033,000. Alumis makes up about 14.7% of Foresite Capital Management VI LLC's investment portfolio, making the stock its 2nd largest position. Foresite Capital Management VI LLC owned approximately 8.90% of Alumis as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in ALMS. Towerview LLC raised its position in Alumis by 9.2% during the fourth quarter. Towerview LLC now owns 415,000 shares of the company's stock valued at $3,262,000 after buying an additional 35,000 shares during the period. Geode Capital Management LLC lifted its stake in shares of 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 buying an additional 9,891 shares during the last quarter. Norges Bank bought a new stake in Alumis during the fourth quarter valued at about $1,606,000. Charles Schwab Investment Management Inc. boosted its stake in Alumis by 4.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 113,401 shares of the company's stock valued at $891,000 after purchasing an additional 4,808 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Alumis by 4.3% in the fourth quarter. Northern Trust Corp now owns 111,326 shares of the company's stock valued at $875,000 after acquiring an additional 4,587 shares during the period.

Alumis Stock Performance

ALMS stock traded up $0.76 during midday trading on Friday, hitting $4.59. 906,664 shares of the company's stock were exchanged, compared to its average volume of 318,296. Alumis Inc. has a one year low of $3.18 and a one year high of $13.53. The stock's fifty day moving average price is $5.42 and its 200-day moving average price is $7.51.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, CEO Martin Babler purchased 15,650 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was purchased at an average cost of $6.44 per share, for a total transaction of $100,786.00. Following the completion of the purchase, the chief executive officer now directly owns 106,454 shares in the company, valued at $685,563.76. This trade represents a 17.23 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alan Colowick bought 16,104 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were purchased at an average price of $6.97 per share, for a total transaction of $112,244.88. Following the completion of the acquisition, the director now owns 16,104 shares of the company's stock, valued at $112,244.88. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here.

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.