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Foresite Capital Fund VI, L.P., a significant shareholder of Alumis Inc. (NASDAQ:ALMS), has recently increased its stake in the company. According to an SEC filing, the fund acquired a total of 45,000 shares of Alumis Inc. common stock over two separate transactions. The purchases, made on May 2 and May 6, amounted to a combined value of approximately $202,300. The shares were bought at prices ranging from $4.34 to $4.62 each, coming at a significant discount from the stock’s 52-week high of $13.53. InvestingPro analysis shows the company maintains a strong liquidity position with a current ratio of 6.01, while analyst price targets range from $14 to $29.
Following these transactions, Foresite Capital Fund VI, L.P. now holds 4,247,670 shares of Alumis, reflecting its continued confidence in the company’s prospects despite the stock’s 62.82% decline over the past six months. The shares are held indirectly, as noted in the filing, with Foresite Capital Management VI, LLC acting as the general partner. James B. Tananbaum, the managing member, is noted as having potential voting and dispositive power over these shares. InvestingPro subscribers can access 8 additional key insights about Alumis’s financial health and market position.
In other recent news, Alumis Inc. has announced significant developments that may interest investors. Alumis and Acelyrin have amended their merger agreement, adjusting the stock exchange ratio to increase Acelyrin stockholders’ ownership to approximately 48% of the combined company, while Alumis stockholders will own about 52%. The merger, which is expected to be finalized in the second quarter of 2025, aims to create a leading biopharmaceutical company with a strong pipeline of therapies. Additionally, Alumis has entered into a strategic partnership with Kaken Pharmaceutical (TADAWUL:2070) to develop and commercialize the TYK2 inhibitor, ESK-001, for dermatological uses in Japan. This agreement could bring Alumis up to $180 million in combined upfront, milestone, and royalty payments. H.C. Wainwright has adjusted its price target for Alumis to $14 while maintaining a Buy rating following these announcements. The revised merger terms and strategic partnership underscore Alumis’s efforts to enhance shareholder value and expand its market presence. The collaboration with Kaken is expected to leverage Kaken’s expertise in dermatology, potentially accelerating ESK-001’s path to market in Japan.
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