Alumis Inc.’s (NASDAQ:ALMS) Lock-Up Period Set To Expire on December 25th

Alumis’ (NASDAQ:ALMS) lock-up period will expire on Wednesday, December 25th. Alumis had issued 13,125,000 shares in its initial public offering on June 28th. The total size of the offering was $210,000,000 based on an initial share price of $16.00. After the end of Alumis’ lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Analysts Set New Price Targets

ALMS has been the subject of several recent research reports. Baird R W upgraded Alumis to a “strong-buy” rating in a research note on Thursday, October 31st. Robert W. Baird initiated coverage on Alumis in a research report on Thursday, October 31st. They set an “outperform” rating and a $25.00 target price for the company. HC Wainwright reduced their target price on Alumis from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alumis in a research note on Thursday, November 14th. Six research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Alumis currently has an average rating of “Buy” and a consensus price target of $26.83.

Alumis Stock Performance

NASDAQ:ALMS opened at $8.74 on Wednesday. Alumis has a 52 week low of $7.66 and a 52 week high of $13.53. The company has a fifty day moving average price of $10.34.

Institutional Investors Weigh In On Alumis

Several institutional investors and hedge funds have recently made changes to their positions in the business. SR One Capital Management LP acquired a new position in Alumis in the second quarter valued at approximately $26,067,000. Towerview LLC lifted its position in shares of Alumis by 22.6% during the 3rd quarter. Towerview LLC now owns 380,000 shares of the company’s stock valued at $4,058,000 after acquiring an additional 70,000 shares during the period. Samsara BioCapital LLC bought a new position in Alumis during the third quarter worth $34,886,000. Millennium Management LLC acquired a new stake in Alumis in the second quarter worth $3,376,000. Finally, Maven Securities LTD bought a new stake in Alumis in the second quarter valued at $332,000.

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.