Srinivas Akkaraju Purchases 137,772 Shares of Alumis (NASDAQ:ALMS) Stock

Alumis Inc. (NASDAQ:ALMS) Director Srinivas Akkaraju bought 137,772 shares of the company’s stock in a transaction on Wednesday, November 19th. The shares were acquired at an average price of $6.56 per share, with a total value of $903,784.32. Following the transaction, the director directly owned 517,517 shares in the company, valued at approximately $3,394,911.52. The trade was a 36.28% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through this link.

Srinivas Akkaraju also recently made the following trade(s):

• On Tuesday, November 18th, Srinivas Akkaraju purchased 102,652 shares of Alumis stock. The stock was bought at an average price of $6.05 per share, for a total transaction of $621,044.60.
• On Monday, November 17th, Srinivas Akkaraju acquired 914 shares of Alumis stock. The stock was bought at an average price of $5.51 per share, with a total value of $5,036.14.
• On Thursday, November 13th, Srinivas Akkaraju bought 276,179 shares of Alumis stock. The stock was bought at an average cost of $5.25 per share, for a total transaction of $1,449,939.75.

Alumis Stock Performance

ALMS traded up $0.16 during midday trading on Wednesday, reaching $6.57. 1,624,729 shares of the company were exchanged, compared to its average volume of 821,277. The stock has a market capitalization of $683.67 million, a P/E ratio of -1.62 and a beta of -1.33. Alumis Inc. has a one year low of $2.76 and a one year high of $10.49. The stock’s 50-day simple moving average is $4.61 and its 200 day simple moving average is $4.23.

Alumis (NASDAQ:ALMS) last announced its quarterly earnings results on Thursday, November 13th. The company reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.14). The company had revenue of $2.07 million for the quarter, compared to analyst estimates of $3.14 million. On average, research analysts anticipate that Alumis Inc. will post -8.51 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. HC Wainwright reiterated a “buy” rating and issued a $14.00 target price on shares of Alumis in a report on Thursday, August 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Alumis in a research report on Thursday, November 13th. Wall Street Zen downgraded Alumis from a “hold” rating to a “sell” rating in a research note on Saturday. Wells Fargo & Company began coverage on Alumis in a research note on Friday, July 25th. They issued an “overweight” rating and a $17.00 target price for the company. Finally, Morgan Stanley lowered their price target on Alumis from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Friday, August 15th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Alumis has a consensus rating of “Moderate Buy” and an average price target of $19.20.

Institutional Investors Weigh In On Alumis

Large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. increased its holdings in Alumis by 320.9% during the third quarter. Russell Investments Group Ltd. now owns 6,419 shares of the company’s stock worth $26,000 after buying an additional 4,894 shares during the last quarter. Kera Capital Partners Inc. acquired a new stake in Alumis in the 2nd quarter valued at about $32,000. Police & Firemen s Retirement System of New Jersey boosted its stake in shares of Alumis by 199.7% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 10,753 shares of the company’s stock worth $32,000 after acquiring an additional 7,165 shares during the period. New York State Common Retirement Fund raised its stake in Alumis by 173.7% in the 2nd quarter. New York State Common Retirement Fund now owns 11,767 shares of the company’s stock valued at $35,000 after acquiring an additional 7,467 shares during the period. Finally, Western Wealth Management LLC acquired a new position in shares of Alumis in the second quarter valued at $36,000.

About Alumis

Our mission is to significantly improve the lives of patients by replacing broad immunosuppression with targeted therapies. Our name, Alumis, captures our mission to enlighten immunology, and is inspired by the words “allumer”-French for illuminate-and “immunis”-Latin for the immune system. We are a clinical stage biopharmaceutical company with an initial focus on developing our two Tyrosine Kinase 2 (TYK2) inhibitors: ESK-001, a second-generation inhibitor that we are developing to maximize target inhibition and optimize tolerability, and A-005, a central nervous system (CNS) penetrant molecule.