Alumis (NASDAQ:ALMS) Director Acquires 38,702 Shares

Alumis Inc. (NASDAQ:ALMS) Director Srinivas Akkaraju purchased 38,702 shares of the firm’s stock in a transaction on Friday, November 28th. The shares were acquired at an average cost of $7.64 per share, for a total transaction of $295,683.28. Following the completion of the acquisition, the director owned 730,499 shares of the company’s stock, valued at approximately $5,581,012.36. This trade represents a 5.59% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, December 1st, Srinivas Akkaraju bought 86,350 shares of Alumis stock. The shares were acquired at an average cost of $7.46 per share, for a total transaction of $644,171.00.
• On Wednesday, November 26th, Srinivas Akkaraju purchased 48,537 shares of Alumis stock. The stock was acquired at an average price of $7.64 per share, with a total value of $370,822.68.
• On Thursday, November 20th, Srinivas Akkaraju acquired 125,743 shares of Alumis stock. The shares were bought at an average price of $7.20 per share, for a total transaction of $905,349.60.
• On Wednesday, November 19th, Srinivas Akkaraju bought 137,772 shares of Alumis stock. The shares were bought at an average price of $6.56 per share, with a total value of $903,784.32.
• On Tuesday, November 18th, Srinivas Akkaraju acquired 102,652 shares of Alumis stock. The shares were bought at an average cost of $6.05 per share, with a total value of $621,044.60.
• On Monday, November 17th, Srinivas Akkaraju bought 914 shares of Alumis stock. The stock was purchased at an average price of $5.51 per share, for a total transaction of $5,036.14.
• On Thursday, November 13th, Srinivas Akkaraju purchased 276,179 shares of Alumis stock. The shares were purchased at an average cost of $5.25 per share, with a total value of $1,449,939.75.

Alumis Stock Performance

NASDAQ:ALMS traded down $0.32 during trading hours on Monday, reaching $7.35. The stock had a trading volume of 1,011,615 shares, compared to its average volume of 720,206. The stock has a market capitalization of $767.29 million, a PE ratio of -1.81 and a beta of -1.33. Alumis Inc. has a 52 week low of $2.76 and a 52 week high of $10.49. The company has a 50 day moving average price of $5.11 and a two-hundred day moving average price of $4.37.

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 the consensus estimate of ($0.92) by ($0.14). The company had revenue of $2.07 million for the quarter, compared to the consensus estimate of $3.14 million. Equities research analysts predict that Alumis Inc. will post -8.51 EPS for the current year.

Analysts Set New Price Targets

ALMS has been the subject of a number of recent research reports. Wall Street Zen cut Alumis from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Alumis in a report on Tuesday, November 25th. Morgan Stanley decreased their target price on Alumis from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Friday, August 15th. Finally, HC Wainwright restated a “buy” rating and issued a $14.00 target price on shares of Alumis in a research note on Thursday, August 14th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.20.

Institutional Trading of Alumis

Several hedge funds have recently modified their holdings of ALMS. Corebridge Financial Inc. increased its position in shares of Alumis by 53.0% during the first quarter. Corebridge Financial Inc. now owns 10,658 shares of the company’s stock worth $65,000 after purchasing an additional 3,693 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Alumis in the 2nd quarter valued at approximately $368,000. Credit Industriel ET Commercial grew its position in Alumis by 178.8% during the 2nd quarter. Credit Industriel ET Commercial now owns 387,002 shares of the company’s stock worth $1,161,000 after purchasing an additional 248,202 shares during the last quarter. Blair William & Co. IL purchased a new position in shares of Alumis in the second quarter worth $200,000. Finally, Tybourne Capital Management HK Ltd. purchased a new stake in shares of Alumis during the second quarter valued at $4,198,000.

Alumis Company Profile

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.