Insider Buying: Alumis (NASDAQ:ALMS) Director Acquires 411,764 Shares of Stock

Alumis Inc. (NASDAQ:ALMS) Director James Tananbaum acquired 411,764 shares of Alumis stock in a transaction dated Thursday, January 8th. The shares were bought at an average cost of $17.00 per share, with a total value of $6,999,988.00. Following the completion of the purchase, the director owned 5,702,536 shares in the company, valued at approximately $96,943,112. This represents a 7.78% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Alumis Price Performance

Alumis stock traded up $1.53 during midday trading on Monday, reaching $21.09. The stock had a trading volume of 4,196,516 shares, compared to its average volume of 5,247,834. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of -5.21 and a beta of -2.09. Alumis Inc. has a twelve month low of $2.76 and a twelve month high of $22.30. The firm’s fifty day simple moving average is $9.54 and its two-hundred day simple moving average is $6.08.

Alumis (NASDAQ:ALMS) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($1.06) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.14). The firm had revenue of $2.07 million for the quarter, compared to analyst estimates of $3.14 million. As a group, sell-side analysts predict that Alumis Inc. will post -8.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Stonepine Capital Management LLC purchased a new stake in shares of Alumis during the 2nd quarter worth approximately $1,049,000. Trium Capital LLP raised its holdings in shares of Alumis by 17.9% during the 3rd quarter. Trium Capital LLP now owns 3,122,111 shares of the company’s stock valued at $12,457,000 after buying an additional 474,072 shares in the last quarter. General Atlantic L.P. bought a new position in shares of Alumis during the 2nd quarter valued at $3,893,000. Velan Capital Investment Management LP bought a new stake in shares of Alumis in the 2nd quarter valued at about $4,863,000. Finally, Los Angeles Capital Management LLC bought a new position in shares of Alumis during the second quarter valued at about $368,000.

Analysts Set New Price Targets

ALMS has been the topic of a number of research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Alumis in a research report on Monday, December 29th. Leerink Partners increased their target price on shares of Alumis from $20.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 6th. UBS Group restated an “outperform” rating on shares of Alumis in a research report on Tuesday, January 6th. Wall Street Zen upgraded Alumis from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $40.00 target price (up from $20.00) on shares of Alumis in a research note on Friday. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $37.67.

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.