Alumis Stock Has Rallied 250% This Past Year. One Fund Sold Its $5 Million Stake Last Quarter.

1 month ago 11

Jonathan Ponciano, The Motley Fool

Tue, February 3, 2026 astatine 9:06 AM CST 4 min read

On February 2, BML Capital Management disclosed successful a Securities and Exchange Commission filing that it sold retired of Alumis (NASDAQ:ALMS), liquidating 1,210,415 shares successful an estimated $4.83 cardinal trade.

According to a Securities and Exchange Commission (SEC) filing dated February 2, BML Capital Management reported a implicit merchantability of its 1,210,415-share involvement successful Alumis (NASDAQ:ALMS). As a result, the fund's quarter-end presumption worth successful Alumis decreased by $4.83 million, and it present holds nary shares.

Top holdings aft the filing:

NASDAQ: ACRS: $42.89 cardinal (38.0% of AUM)
NASDAQ: AVIR: $26.74 cardinal (23.7% of AUM)
NASDAQ: ORMP: $9.03 cardinal (8.0% of AUM)
NASDAQ: TIL: $7.10 cardinal (6.3% of AUM)
NASDAQ: PMVP: $6.62 cardinal (5.9% of AUM)

As of February 2, shares of Alumis were priced astatine $26.42, up a staggering 255.1% implicit the anterior twelvemonth and good outperforming the S&P 500’s astir 15% summation successful the aforesaid period.

Metric

Value

Market capitalization	$3.3 billion
Revenue (TTM)	$22.12 million
Net income (TTM)	($245.15 million)
Price (as of February 3)	$26.42

Alumis develops clinical-stage therapies for autoimmune and neuroinflammatory disorders, including ESK-001 and A-005 targeting TYK2 inhibition.
The institution operates a biopharmaceutical concern exemplary focused connected advancing proprietary cause candidates done objective trials toward regulatory support and commercialization.
It targets patients with autoimmune diseases specified arsenic plaque psoriasis, systemic lupus erythematosus, and neurodegenerative conditions.

Alumis is simply a clinical-stage biotechnology institution specializing successful the improvement of caller therapies for autoimmune and neuroinflammatory diseases. The institution leverages expertise successful TYK2 inhibition to beforehand a pipeline of differentiated cause candidates addressing important unmet aesculapian needs. With a absorption connected innovation and objective rigor, Alumis seeks to found a competitory presumption successful the biopharmaceutical assemblage done targeted therapeutic development.

BML Capital’s determination is simply a reminder that adjacent disciplined portfolio decisions tin collide with fast-moving catalysts. The merchantability was completed by December 31, arsenic of the filing’s period-end date, earlier Alumis announced its January upsized nationalist offering and earlier shares went connected to surge astir 200% successful the weeks that followed.

At the time, the determination was defensible. Alumis was a clinical-stage biotech with nary approved products and dense R&D spend. As of the 3rd quarter, the institution reported $377.7 cardinal successful currency and marketable securities, but advancing its TYK2 inhibitor programs toward late-stage trials requires heavy pockets and patience. For a money concentrated successful early-stage biotech, hazard absorption mightiness often mean trimming oregon exiting up of known financing events.

What changed was the market’s reaction. The January offering removed balance-sheet uncertainty and flipped the communicative from superior hazard to objective optionality. Momentum followed quickly, repricing the banal good up of immoderate caller proceedings data. Ultimately, this portfolio remains heavy skewed toward development-stage names, suggesting the exit was astir vulnerability power alternatively than a antagonistic work connected the science. The acquisition isn’t needfully astir regret. After all, successful biotech, superior events tin reset sentiment faster than fundamentals, and sometimes the biggest moves hap aft the hazard you were managing disappears.