Alumis Inc. (NASDAQ:ALMS) Lock-Up Period Expiry on December 25th

Alumis Inc. (NASDAQ:ALMS) is approaching a significant milestone as its lock-up period is set to expire on Wednesday, December 25th. The company had released a total of 13,125,000 shares during its initial public offering (IPO) on June 28th, raising an impressive $210 million at an initial share price of $16.00. Once the lock-up period ends, major shareholders and company insiders will be allowed to sell their shares freely, which could impact the stock's trading dynamics.

Wall Street Analysts Have Positive Outlook

A number of analysts from various equity research firms have shared their insights regarding the future of Alumis. On October 31st, Baird R W raised Alumis’s rating to “strong-buy” in a research note, indicating confidence in the company's prospects. They also set an impressive price target of $25.00 per share. Additionally, HC Wainwright adjusted its target price from $30.00 down to $26.00 while still maintaining a “buy” rating for the company in a report dated November 14th. Another noteworthy mention is Cantor Fitzgerald, which reaffirmed an “overweight” rating for Alumis on the same day. Currently, there are six analysts recommending a buy rating while two analysts advocate for a strong buy. MarketBeat.com shows that Alumis has a consensus rating of “Buy” accompanied by an average price target of $26.83.

Alumis Shares Experience Minor Rise

On Friday, shares of Alumis opened at $8.63, reflecting a slight upward movement of 2.4%. The company's fifty-day moving average stands at $10.24. Alumis's shares have shown volatility, with the stock recording a 52-week low of $7.66 and a high of $13.53.

Institutional Investors Active in Alumis

Recent activity among institutional investors and hedge funds demonstrates growing interest in Alumis. In the third quarter, BNP Paribas Financial Markets entered the scene by acquiring a new position valued at $27,000. Likewise, MetLife Investment Management LLC made a new purchase worth approximately $89,000. Other significant investors include Barclays PLC, which acquired a stake valued at around $197,000, and Maven Securities LTD, which invested $332,000. Notably, State Street Corp made the largest move, acquiring a new position valued at $866,000 in the same period.

Understanding Alumis Inc.

Alumis Inc. aims to transform the treatment landscape for patients by offering targeted therapies that replace conventional broad immunosuppression. The name "Alumis" is derived from the French word "allumer" meaning illuminate and the Latin word "immunis" referring to the immune system. The company is currently in the clinical stage and is focusing on two key products: the Tyrosine Kinase 2 (TYK2) inhibitors known as ESK-001, a second-generation inhibitor designed to optimize target inhibition and tolerability, and A-005, which targets the central nervous system.

Alumis, Stock, Investment