Charles Schwab Investment Management Inc. Takes $1.16 Million Position in Alumis Inc. (NASDAQ:ALMS)

Charles Schwab Investment Management Inc. bought a new stake in shares of Alumis Inc. (NASDAQ:ALMS) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 108,593 shares of the company’s stock, valued at approximately $1,160,000.

A number of other large investors also recently added to or reduced their stakes in the business. Towerview LLC raised its position in shares of Alumis by 22.6% during the third quarter. Towerview LLC now owns 380,000 shares of the company’s stock valued at $4,058,000 after buying an additional 70,000 shares during the last quarter. Maven Securities LTD purchased a new stake in Alumis in the 2nd quarter worth $332,000. Millennium Management LLC bought a new position in shares of Alumis during the 2nd quarter valued at about $3,376,000. Yu Fan bought a new stake in shares of Alumis in the second quarter worth about $10,502,000. Finally, Ally Bridge Group NY LLC purchased a new stake in shares of Alumis in the second quarter worth about $8,229,000.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ALMS shares. 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 note on Thursday, November 14th. Baird R W upgraded shares of Alumis to a “strong-buy” rating in a research report on Thursday, October 31st. Robert W. Baird began coverage on shares of Alumis in a research report on Thursday, October 31st. They set an “outperform” rating and a $25.00 target price on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Alumis in a research report on Thursday, November 14th. Six investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Alumis has a consensus rating of “Buy” and an average target price of $26.83.

Alumis Price Performance

ALMS stock opened at $8.74 on Wednesday. Alumis Inc. has a 12 month low of $7.66 and a 12 month high of $13.53. The business’s 50-day moving average price is $10.31.

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.