Ally Bridge Group NY LLC Trims Stock Position in Alumis Inc. (NASDAQ:ALMS)

Ally Bridge Group NY LLC decreased its holdings in Alumis Inc. (NASDAQ:ALMS) by 32.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 418,416 shares of the company’s stock after selling 200,334 shares during the quarter. Alumis makes up approximately 2.4% of Ally Bridge Group NY LLC’s holdings, making the stock its 24th largest holding. Ally Bridge Group NY LLC’s holdings in Alumis were worth $4,469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. BNP Paribas Financial Markets acquired a new stake in shares of Alumis in the third quarter worth approximately $27,000. MetLife Investment Management LLC acquired a new position in shares of Alumis in the 3rd quarter valued at $89,000. Maven Securities LTD purchased a new stake in shares of Alumis during the 2nd quarter valued at $332,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of Alumis during the 3rd quarter worth $1,160,000. Finally, Millennium Management LLC purchased a new position in shares of Alumis in the 2nd quarter worth $3,376,000.

Alumis Trading Up 3.4 %

Alumis stock opened at $9.72 on Thursday. Alumis Inc. has a one year low of $8.23 and a one year high of $13.53. The business’s 50 day moving average is $10.94.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ALMS shares. Baird R W raised Alumis to a “strong-buy” rating in a research report on Thursday, October 31st. HC Wainwright decreased their target price on Alumis from $30.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Cantor Fitzgerald restated an “overweight” rating on shares of Alumis in a report on Thursday, November 14th. Finally, Robert W. Baird initiated coverage on shares of Alumis in a research note on Thursday, October 31st. They set an “outperform” rating and a $25.00 price objective for the company. Six investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $26.83.

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.