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

Yu Fan purchased a new position in shares of Alumis Inc. (NASDAQ:ALMS - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 789,618 shares of the company's stock, valued at approximately $10,502,000. Alumis makes up 13.7% of Yu Fan's holdings, making the stock its 3rd largest holding. Yu Fan owned approximately 1.69% of Alumis as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. SR One Capital Management LP bought a new stake in Alumis in the 2nd quarter valued at about $26,067,000. Ally Bridge Group NY LLC bought a new stake in shares of Alumis during the second quarter valued at approximately $8,229,000. Finally, Towerview LLC acquired a new position in shares of Alumis during the second quarter worth approximately $4,123,000.

Wall Street Analysts Forecast Growth

ALMS has been the subject of a number of recent research reports. Morgan Stanley initiated coverage on shares of Alumis in a research note on Tuesday, July 23rd. They set an "overweight" rating and a $36.00 price target for the company. Guggenheim began coverage on shares of Alumis in a research report on Tuesday, July 23rd. They set a "buy" rating and a $32.00 target price for the company. Leerink Partners assumed coverage on shares of Alumis in a research report on Tuesday, July 23rd. They issued an "outperform" rating and a $29.00 price target on the stock. Cantor Fitzgerald reissued an "overweight" rating on shares of Alumis in a report on Monday, August 19th. Finally, Leerink Partnrs raised Alumis to a "strong-buy" rating in a research note on Tuesday, July 23rd. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $27.50.

Alumis Price Performance

Shares of ALMS traded up $0.39 during trading hours on Monday, reaching $11.86. 176,313 shares of the stock traded hands, compared to its average volume of 189,349. Alumis Inc. has a 52 week low of $10.37 and a 52 week high of $13.53. The stock has a fifty day moving average price of $12.24.

Alumis (NASDAQ:ALMS - Get Free Report) last posted its earnings results on Tuesday, August 13th. The company reported ($23.10) EPS for the quarter, missing the consensus estimate of ($1.57) by ($21.53). On average, equities research analysts expect that Alumis Inc. will post -6.86 earnings per share for the current year.

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.