Insider Buying: Alumis (NASDAQ:ALMS) Director Acquires $905,349.60 in Stock

Alumis Inc. (NASDAQ:ALMS) Director Srinivas Akkaraju acquired 125,743 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The shares were acquired at an average cost of $7.20 per share, for a total transaction of $905,349.60. Following the acquisition, the director directly owned 643,260 shares of the company’s stock, valued at $4,631,472. This trade represents a 24.30% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Wednesday, November 19th, Srinivas Akkaraju bought 137,772 shares of Alumis stock. The stock was acquired at an average cost of $6.56 per share, with a total value of $903,784.32.
• On Tuesday, November 18th, Srinivas Akkaraju bought 102,652 shares of Alumis stock. The shares were bought at an average price of $6.05 per share, for a total transaction of $621,044.60.
• On Monday, November 17th, Srinivas Akkaraju purchased 914 shares of Alumis stock. The shares were bought at an average cost 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 stock was bought at an average price of $5.25 per share, with a total value of $1,449,939.75.

Alumis Stock Up 4.2%

Shares of NASDAQ ALMS opened at $7.64 on Thursday. The stock has a market capitalization of $797.54 million, a price-to-earnings ratio of -1.89 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 firm has a 50-day moving average price of $4.91 and a 200 day moving average price of $4.32.

Alumis (NASDAQ:ALMS) last issued its 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 business had revenue of $2.07 million for the quarter, compared to the consensus estimate of $3.14 million. Equities research analysts expect that Alumis Inc. will post -8.51 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Trading of Alumis

A number of hedge funds have recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. acquired a new position in Alumis in the 3rd quarter valued at $160,000. Woodline Partners LP grew its position in shares of Alumis by 809.7% in the third quarter. Woodline Partners LP now owns 1,751,150 shares of the company’s stock valued at $6,987,000 after purchasing an additional 1,558,660 shares during the period. PharVision Advisers LLC acquired a new position in Alumis in the third quarter valued at $83,000. Prelude Capital Management LLC lifted its position in Alumis by 698.0% during the third quarter. Prelude Capital Management LLC now owns 87,832 shares of the company’s stock worth $350,000 after buying an additional 76,825 shares during the period. Finally, Mariner LLC boosted its stake in Alumis by 177.3% in the 3rd quarter. Mariner LLC now owns 84,873 shares of the company’s stock worth $339,000 after buying an additional 54,269 shares during the last quarter.

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.