Why Did Alumis Inc. Plunge 10.11% Amid Borrow Rate Surge?

On May 28, 2025, Alumis Inc. (ALMS) experienced a significant drop of 10.11% in pre-market trading, reflecting a notable shift in investor sentiment towards the biopharmaceutical company.

Alumis Inc. is a late-stage biopharmaceutical company focused on developing oral TYK2 inhibitors, including ESK-001 for plaque psoriasis and systemic lupus erythematosus, as well as A-005 for other indications. The company's innovative pipeline and strategic focus on immune-mediated diseases have positioned it as a key player in the biopharmaceutical sector.

Recently, Alumis Inc. has seen a significant jump in its indicative borrow rate, surging by 172.11% to reach 221.79%. This dramatic increase suggests a growing demand for borrowing shares of the company, which could influence future stock performance and investment strategies. Market analysts and investors are closely monitoring this trend, as it may indicate heightened interest or speculative activity surrounding Alumis Inc.'s stock.