Millennium Management LLC Takes Position in Alumis Inc. (NASDAQ:ALMS)

Millennium Management LLC purchased a new position in shares of Alumis Inc. (NASDAQ:ALMS - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 253,820 shares of the company's stock, valued at approximately $3,376,000. Millennium Management LLC owned 0.54% of Alumis as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. SR One Capital Management LP acquired a new position in Alumis during the second quarter worth approximately $26,067,000. Yu Fan acquired a new position in shares of Alumis in the second quarter valued at approximately $10,502,000. Ally Bridge Group NY LLC acquired a new position in shares of Alumis in the second quarter valued at approximately $8,229,000. Finally, Towerview LLC acquired a new position in shares of Alumis in the second quarter valued at approximately $4,123,000.

Alumis Price Performance

ALMS stock traded up $0.88 on Tuesday, reaching $11.20. 78,840 shares of the company's stock were exchanged, compared to its average volume of 173,294. The company has a fifty day moving average of $11.68. Alumis Inc. has a twelve month low of $9.54 and a twelve month high of $13.53.

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 analysts' consensus estimates of ($1.57) by ($21.53). Equities research analysts expect that Alumis Inc. will post -6.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Alumis Company 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.