Yu Fan Purchases New Position in Alumis Inc. (NASDAQ:ALMS)

Yu Fan acquired a new stake in shares of Alumis Inc. (NASDAQ:ALMS) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 789,618 shares of the company’s stock, valued at approximately $10,502,000. Alumis makes up about 13.7% of Yu Fan’s portfolio, making the stock its 3rd biggest position. Yu Fan owned approximately 1.69% of Alumis at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ALMS. Ally Bridge Group NY LLC purchased a new stake in shares of Alumis in the 2nd quarter worth about $8,229,000. SR One Capital Management LP bought a new position in shares of Alumis during the second quarter valued at approximately $26,067,000. Finally, Towerview LLC purchased a new position in shares of Alumis during the second quarter valued at approximately $4,123,000.

Alumis Trading Up 0.9 %

NASDAQ ALMS opened at $11.47 on Monday. Alumis Inc. has a 1-year low of $10.37 and a 1-year high of $13.53. The company’s fifty day moving average price is $12.24.

Alumis (NASDAQ:ALMS) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($23.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.57) by ($21.53). As a group, analysts forecast that Alumis Inc. will post -6.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ALMS. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alumis in a research report on Monday, August 19th. Leerink Partners assumed coverage on shares of Alumis in a research note on Tuesday, July 23rd. They issued an “outperform” rating and a $29.00 price target on the stock. Leerink Partnrs raised shares of Alumis to a “strong-buy” rating in a report on Tuesday, July 23rd. Morgan Stanley started coverage on shares of Alumis in a report on Tuesday, July 23rd. They set an “overweight” rating and a $36.00 price target on the stock. Finally, Guggenheim began coverage on shares of Alumis in a report on Tuesday, July 23rd. They issued a “buy” rating and a $32.00 price objective for the company. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Alumis has a consensus rating of “Buy” and an average target price of $27.50.

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.