Alumis (NASDAQ:ALMS) Director Acquires 440,140 Shares of Stock

Alumis Inc. (NASDAQ:ALMS) Director Srinivas Akkaraju bought 440,140 shares of the firm’s stock in a transaction on Friday, September 4th. The stock was acquired at an average price of $11.17 per share, for a total transaction of $4,916,363.80. Following the completion of the purchase, the director directly owned 4,711,801 shares in the company, valued at approximately $52,630,817.17. The trade was a 10.30% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, September 8th, Srinivas Akkaraju sold 96,131 shares of Alumis stock. The shares were sold at an average price of $10.55, for a total value of $1,014,182.05.
• On Tuesday, September 8th, Srinivas Akkaraju purchased 546,581 shares of Alumis stock. The shares were acquired at an average price of $10.63 per share, with a total value of $5,810,156.03.

Alumis Trading Down 7.4%

Shares of NASDAQ ALMS traded down $0.78 during midday trading on Wednesday, hitting $9.80. 3,808,867 shares of the company’s stock were exchanged, compared to its average volume of 3,294,204. The business’s fifty day moving average price is $24.32 and its two-hundred day moving average price is $24.24. The company has a market cap of $1.27 billion, a price-to-earnings ratio of -2.54 and a beta of -0.81. Alumis Inc. has a 12-month low of $3.76 and a 12-month high of $31.35.

Alumis (NASDAQ:ALMS) last announced its earnings results on Thursday, August 13th. The company reported ($1.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.34). Alumis had a negative net margin of 5,933.46% and a negative return on equity of 93.15%. The company had revenue of $1.66 million during the quarter, compared to analysts’ expectations of $3.65 million. Equities analysts expect that Alumis Inc. will post -2.95 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Citigroup reaffirmed an “overweight” rating on shares of Alumis in a report on Tuesday, September 1st. Chardan Capital lifted their price target on Alumis from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, May 19th. HC Wainwright upgraded Alumis from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $25.00 to $15.00 in a report on Wednesday, September 2nd. Wells Fargo & Company reduced their price target on shares of Alumis from $51.00 to $25.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 2nd. Finally, Morgan Stanley decreased their price target on shares of Alumis from $39.00 to $29.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Alumis presently has a consensus rating of “Moderate Buy” and an average target price of $33.27.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Alumis by 64.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,535 shares of the company’s stock valued at $77,000 after acquiring an additional 4,926 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Alumis by 24.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 61,645 shares of the company’s stock worth $378,000 after acquiring an additional 11,949 shares in the last quarter. Jane Street Group LLC bought a new stake in Alumis during the 1st quarter worth approximately $111,000. Rhumbline Advisers lifted its holdings in Alumis by 21.7% during the first quarter. Rhumbline Advisers now owns 16,543 shares of the company’s stock valued at $102,000 after purchasing an additional 2,949 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Alumis by 163.2% in the second quarter. Geode Capital Management LLC now owns 1,167,832 shares of the company’s stock worth $3,504,000 after purchasing an additional 724,133 shares during the period.

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.