Alumis Inc.'s (NASDAQ:ALMS) Lock-Up Period Will Expire on December 25th

Alumis' (NASDAQ:ALMS - Get Free Report) lock-up period will end on Wednesday, December 25th. Alumis had issued 13,125,000 shares in its 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 expiration of Alumis' lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Wall Street Analyst Weigh In

ALMS has been the topic of a number of recent analyst reports. Cantor Fitzgerald restated an "overweight" rating on shares of Alumis in a research report on Thursday, November 14th. 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 target on shares of Alumis from $30.00 to $26.00 and set a "buy" rating on the stock in a research report on Thursday, November 14th. Finally, Robert W. Baird started coverage on shares of Alumis in a research note on Thursday, October 31st. They issued an "outperform" rating and a $25.00 price objective on the stock. Six analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Alumis has a consensus rating of "Buy" and an average target price of $26.83.

Alumis Stock Performance

Shares of ALMS traded down $0.31 during trading hours on Wednesday, reaching $8.43. The stock had a trading volume of 98,527 shares, compared to its average volume of 148,498. Alumis has a 12 month low of $7.66 and a 12 month high of $13.53. The stock has a 50-day moving average price of $10.27.

Institutional Trading of Alumis

Several hedge funds and other institutional investors have recently made changes to their positions in ALMS. BNP Paribas Financial Markets acquired a new stake in Alumis during the 3rd quarter worth approximately $27,000. MetLife Investment Management LLC bought a new position in shares of Alumis during the third quarter valued at $89,000. Barclays PLC acquired a new position in shares of Alumis during the third quarter worth $197,000. Maven Securities LTD bought a new stake in shares of Alumis in the second quarter worth $332,000. Finally, State Street Corp acquired a new stake in Alumis in the third quarter valued at $866,000.

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.