Geode Capital Management LLC Invests $3.27 Million in Alumis Inc. (NASDAQ:ALMS)

Geode Capital Management LLC acquired a new stake in Alumis Inc. (NASDAQ:ALMS) in the third quarter, HoldingsChannel.com reports. The fund acquired 305,680 shares of the company’s stock, valued at approximately $3,266,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ALMS. SR One Capital Management LP purchased a new stake in shares of Alumis during the 2nd quarter valued at approximately $26,067,000. Charles Schwab Investment Management Inc. acquired a new stake in Alumis during the 3rd quarter worth approximately $1,160,000. Towerview LLC boosted its holdings in Alumis by 22.6% in the third quarter. Towerview LLC now owns 380,000 shares of the company’s stock valued at $4,058,000 after purchasing an additional 70,000 shares during the period. State Street Corp acquired a new stake in Alumis in the third quarter valued at approximately $866,000. Finally, Stifel Financial Corp purchased a new stake in shares of Alumis during the 3rd quarter worth $931,000.

Alumis Trading Up 4.0 %

Shares of NASDAQ:ALMS opened at $8.79 on Tuesday. Alumis Inc. has a 12-month low of $7.46 and a 12-month high of $13.53. The stock has a 50-day simple moving average of $9.48.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ALMS. Baird R W raised shares of Alumis to a “strong-buy” rating in a report on Thursday, October 31st. HC Wainwright reissued a “buy” rating and set a $26.00 target price on shares of Alumis in a research note on Monday. Robert W. Baird assumed coverage on Alumis in a research note on Thursday, October 31st. They set an “outperform” rating and a $25.00 price target on the stock. Finally, Cantor Fitzgerald restated 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. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $26.83.

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.