Alumis (NASDAQ:ALMS) Director Srinivas Akkaraju Buys 102,652 Shares

Alumis Inc. (NASDAQ:ALMS) Director Srinivas Akkaraju purchased 102,652 shares of the stock in a transaction dated Tuesday, November 18th. The shares were purchased at an average price of $6.05 per share, with a total value of $621,044.60. Following the transaction, the director directly owned 379,745 shares of the company’s stock, valued at approximately $2,297,457.25. The trade was a 37.05% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Wednesday, November 19th, Srinivas Akkaraju acquired 137,772 shares of Alumis stock. The stock was purchased at an average price of $6.56 per share, for a total transaction of $903,784.32.
• On Monday, November 17th, Srinivas Akkaraju bought 914 shares of Alumis stock. The shares were purchased at an average cost 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 purchased at an average price of $5.25 per share, with a total value of $1,449,939.75.

Alumis Stock Performance

Shares of ALMS traded up $0.16 during mid-day trading on Wednesday, reaching $6.57. 1,624,729 shares of the company’s stock traded hands, compared to its average volume of 821,277. The business’s 50-day moving average price is $4.61 and its 200-day moving average price is $4.23. 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 12 month low of $2.76 and a 12 month high of $10.49.

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. HC Wainwright reissued a “buy” rating and set a $14.00 price target on shares of Alumis in a report on Thursday, August 14th. Wells Fargo & Company started coverage on shares of Alumis in a research note on Friday, July 25th. They set an “overweight” rating and a $17.00 target price on the stock. Morgan Stanley dropped their price target on shares of Alumis from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Friday, August 15th. Wall Street Zen cut shares of Alumis from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Alumis in a research note on Thursday, November 13th. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.20.

Hedge Funds Weigh In On Alumis

Hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. raised its holdings in shares of Alumis by 320.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,419 shares of the company’s stock worth $26,000 after purchasing an additional 4,894 shares in the last quarter. CWM LLC boosted its holdings in Alumis by 1,028.7% during the third quarter. CWM LLC now owns 10,384 shares of the company’s stock worth $41,000 after buying an additional 9,464 shares in the last quarter. Kera Capital Partners Inc. acquired a new position in Alumis in the second quarter worth approximately $32,000. Corebridge Financial Inc. increased its holdings in shares of Alumis by 53.0% in the first quarter. Corebridge Financial Inc. now owns 10,658 shares of the company’s stock valued at $65,000 after buying an additional 3,693 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey lifted its position 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 valued at $32,000 after acquiring an additional 7,165 shares during the last quarter.

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.