Alumis Inc.’s (NASDAQ:ALMS) Lock-Up Period Set To Expire on December 25th
The lock-up period for Alumis Inc. (NASDAQ:ALMS) is approaching its end, set to expire on Wednesday, December 25th. This marks an important date for the company, which previously issued 13,125,000 shares during its initial public offering (IPO) held on June 28th. The offering was substantial, totaling $210,000,000 based on an initial share price of $16.00. Once this lock-up period concludes, major shareholders and insiders of the company will be allowed to sell their shares without restrictions.
Wall Street Analysts Projecting Growth
Analysts on Wall Street have been actively discussing Alumis shares. On October 31st, Baird R W upgraded the company to a “strong-buy” rating in a research note. They also initiated coverage with an “outperform” rating alongside a target price of $25.00. In a different report dated November 14th, HC Wainwright lowered their price target on Alumis from $30.00 to $26.00 while maintaining a “buy” rating. The same date saw Cantor Fitzgerald reaffirm an “overweight” rating on the stock. Overall, six analysts have rated Alumis with a buy recommendation and two have issued a strong buy. Data from MarketBeat.com indicates a consensus rating of “Buy” with an average price target set at $26.83.
Read Our Latest Report on ALMS
Alumis Stock Performance
As of Friday, shares of NASDAQ:ALMS opened at a price of $8.63. The stock's fifty-day moving average stands at $10.24, indicating some volatility in price. Alumis has experienced a 52-week low of $7.66 and a high of $13.53.
Institutional Investments in Alumis
Recent activity by institutional investors reflects interest in Alumis. BNP Paribas Financial Markets stepped in with a new position in the third quarter, valued at $27,000. Additionally, MetLife Investment Management LLC bought a new stake, approximated at $89,000 during the same period. Barclays PLC invested nearly $197,000, while Maven Securities LTD acquired shares valued at $332,000. Notably, State Street Corp made a significant move, acquiring a new stake in the third quarter valued at $866,000.
About Alumis Inc.
Alumis Inc. is focused on enhancing patient care by transitioning from broad immunosuppression to targeted therapies. The name Alumis is derived from the French word “allumer,” meaning illuminate, and the Latin “immunis,” relating to the immune system. As a clinical-stage biopharmaceutical firm, it aims to develop two Tyrosine Kinase 2 (TYK2) inhibitors: ESK-001, which is designed to optimize tolerability and maximize target inhibition, and A-005, intended to penetrate the central nervous system (CNS).
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