Towerview LLC Buys 70,000 Shares of Alumis Inc. (NASDAQ:ALMS)

Towerview LLC lifted its stake in Alumis Inc. (NASDAQ:ALMS - Free Report) by 22.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 380,000 shares of the company's stock after buying an additional 70,000 shares during the quarter. Alumis makes up 2.6% of Towerview LLC's holdings, making the stock its 8th largest position. Towerview LLC owned about 0.80% of Alumis worth $4,058,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Maven Securities LTD acquired a new stake in Alumis in the 2nd quarter worth about $332,000. Millennium Management LLC purchased a new stake in shares of Alumis during the second quarter worth approximately $3,376,000. Ally Bridge Group NY LLC acquired a new position in Alumis in the 2nd quarter valued at $8,229,000. Yu Fan purchased a new position in Alumis in the 2nd quarter valued at $10,502,000. Finally, SR One Capital Management LP purchased a new stake in shares of Alumis during the second quarter worth $26,067,000.

Alumis Stock Performance

Shares of NASDAQ:ALMS traded down $1.40 during mid-day trading on Thursday, reaching $9.41. 246,426 shares of the company were exchanged, compared to its average volume of 151,332. Alumis Inc. has a 1 year low of $9.11 and a 1 year high of $13.53. The company has a 50-day moving average price of $11.33.

Alumis (NASDAQ:ALMS - Get Free Report) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($23.10) earnings per share for the quarter, missing analysts' consensus estimates of ($1.57) by ($21.53). Research analysts forecast that Alumis Inc. will post -8 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on ALMS. Baird R W upgraded shares of Alumis to a "strong-buy" rating in a research report on Thursday, October 31st. HC Wainwright reduced their price objective on Alumis from $30.00 to $26.00 and set a "buy" rating on the stock in a research report on Thursday. Robert W. Baird began coverage on Alumis in a report on Thursday, October 31st. They issued an "outperform" rating and a $25.00 target price for the company. Leerink Partnrs upgraded Alumis to a "strong-buy" rating in a report on Tuesday, July 23rd. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Alumis in a report on Thursday. Six analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Alumis presently has an average rating of "Buy" and a consensus target price of $26.83.

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.