AXQ Capital LP Invests $78,000 in Alumis Inc. $ALMS

AXQ Capital LP bought a new stake in Alumis Inc. (NASDAQ:ALMS) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 19,452 shares of the company’s stock, valued at approximately $78,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Police & Firemen s Retirement System of New Jersey boosted its stake in shares of Alumis by 199.7% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 10,753 shares of the company’s stock worth $32,000 after buying an additional 7,165 shares during the last quarter. New York State Common Retirement Fund raised its holdings in Alumis by 173.7% during the second quarter. New York State Common Retirement Fund now owns 11,767 shares of the company’s stock worth $35,000 after acquiring an additional 7,467 shares in the last quarter. Western Wealth Management LLC acquired a new position in Alumis during the second quarter valued at approximately $36,000. ProShare Advisors LLC bought a new position in Alumis in the second quarter valued at approximately $40,000. Finally, CWM LLC increased its position in shares of Alumis by 1,028.7% during the 3rd quarter. CWM LLC now owns 10,384 shares of the company’s stock worth $41,000 after purchasing an additional 9,464 shares during the last quarter.

Alumis Price Performance

NASDAQ:ALMS opened at $29.69 on Friday. The company has a market cap of $3.10 billion, a P/E ratio of -7.33 and a beta of -2.06. The firm’s fifty day moving average price is $22.13 and its two-hundred day moving average price is $11.43. Alumis Inc. has a one year low of $2.76 and a one year high of $30.60.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Leerink Partners increased their price objective on Alumis from $20.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday, January 6th. Wells Fargo & Company upped their price target on shares of Alumis from $17.00 to $39.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 6th. Guggenheim lifted their price objective on shares of Alumis from $18.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, January 7th. Oppenheimer restated an “outperform” rating and set a $50.00 price objective on shares of Alumis in a research note on Tuesday, January 6th. Finally, Morgan Stanley raised their target price on shares of Alumis from $22.00 to $33.00 and gave the company an “overweight” rating in a research note on Wednesday, January 7th. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $38.22.

Insider Activity at Alumis

In related news, major shareholder Foresite Capital Management Vi purchased 411,764 shares of the stock in a transaction on Thursday, January 8th. The shares were purchased at an average cost of $17.00 per share, with a total value of $6,999,988.00. Following the acquisition, the insider directly owned 5,702,536 shares in the company, valued at $96,943,112. The trade was a 7.78% 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, major shareholder Foresite Labs, Llc acquired 411,764 shares of Alumis stock in a transaction dated Thursday, January 8th. The shares were purchased at an average price of $17.00 per share, with a total value of $6,999,988.00. Following the acquisition, the insider owned 5,702,536 shares of the company’s stock, valued at approximately $96,943,112. This trade represents a 7.78% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought 2,358,281 shares of company stock valued at $35,517,981 in the last 90 days. Insiders own 40.70% of the company’s stock.

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.