Alumis Stock Is Up Over 300%. One Major Healthcare Investor Is Cutting Back
Key Points
Omega Fund Management sold 411,968 shares of Alumis; the estimated trade value is $10.3 million (based on quarterly average price).
The quarter-end position value decreased by $1.06 million, reflecting both trading activity and price changes.
The transaction represented 6.3% of Omega Fund Management's 13F reportable assets under management (AUM).
After the sale, Omega holds 241,255 Alumis shares valued at $5.31 million.
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On May 15, 2026, Omega Fund Management disclosed in an SEC filing that it sold 411,968 shares of Alumis (NASDAQ:ALMS), with the estimated transaction value at $10.3 million based on quarterly average pricing.
What happened
According to its SEC filing dated May 15, 2026, Omega Fund Management reduced its position in Alumis by 411,968 shares during the first quarter. The estimated transaction value, based on the period’s average closing price, was $10.3 million. The fund’s stake at quarter-end stood at 241,255 shares, with the position’s value decreasing by $1.06 million compared to the prior quarter, a figure reflecting both sale activity and market price movement.
What else to know
- Omega Fund Management continued to trim its Alumis position, which now accounts for 3.3% of 13F AUM.
- Top holdings after the filing:
- NASDAQ: BCAX: $47.58 million (29.2% of AUM)
- NYSE: NUVB: $34.67 million (21.2% of AUM)
- NASDAQ: BBOT: $29.44 million (18.0% of AUM)
- NASDAQ: KMTS: $20.37 million (12.5% of AUM)
- NASDAQ: BBNX: $13.19 million (8.1% of AUM)
- As of Friday, Alumis shares were priced at $22.87, up 327% over the past year and well outperforming the S&P 500’s roughly 25% gain in the same period.
Company overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $24.05 million |
| Net income (TTM) | ($243.33 million) |
| Market capitalization | $2.9 billion |
| Price (as of Friday) | $22.87 |
Company snapshot
- Alumis develops clinical-stage therapies for autoimmune and neuroinflammatory diseases, focusing on allosteric TYK2 inhibitors.
- The firm operates as a biotechnology company with a pipeline including ESK-001 and A-005 for conditions such as plaque psoriasis and systemic lupus erythematosus.
Alumis is positioned in the biotechnology sector, leveraging expertise in allosteric TYK2 inhibition to address complex immune-mediated conditions. Its research and development pipeline targets significant opportunities in autoimmune and neuroinflammatory disease treatment.
What this transaction means for investors
This sale ultimately looks more like profit-taking after an enormous rally than a full-blown loss of conviction. Even after trimming the position again, Omega still kept Alumis as a meaningful holding in a biotech-heavy portfolio, suggesting the firm may simply be managing exposure after the stock’s more than 300% run over the past year.
The bigger story for long-term investors is whether Alumis can turn promising clinical momentum into an actual commercial franchise. The company on Thursday reported late-stage psoriasis data showing PASI 90 response rates above 60% and PASI 100 responses topping 40% by Week 24 for envudeucitinib, its lead TYK2 inhibitor candidate. Management said plans remain on track for an FDA submission in the fourth quarter, while potentially pivotal lupus data is expected later this year.
Financially, Alumis ended the quarter with $569.5 million in cash and marketable securities, which management says should fund operations into late 2027. And looking at the bottom line, the company still posted a steep quarterly net loss of $93.1 million as research spending remained elevated.
Ultimately, the opportunity now hinges less on hype around TYK2 drugs and more on execution, especially whether Alumis can differentiate itself in an increasingly crowded autoimmune treatment market.
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Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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