Another check to the “still like it” box
Alumis has already ripped about 400%, and Cormorant apparently looked at that move and thought: yes, but what if we bought more? The fund picked up 313,645 additional shares in the first quarter, an estimated $7.84 million trade based on average prices.
Why this matters
When a biotech gets an over-the-top run like this, every extra institutional buy can feel like a small referendum on whether the rally is real or just caffeine-fueled momentum. Cormorant’s move says at least one sophisticated investor still sees room here.
The investor read-through
This isn’t a guarantee the stock keeps flying — big funds can be early, late, or just plain wrong like the rest of us. But it does suggest the name is still on institutional radars even after the huge run-up.
Big picture: in a market that loves to second-guess itself, Cormorant is basically saying, “We’ll have another helping of Alumis, please.”