Alumis (NASDAQ:ALMS) Director Srinivas Akkaraju Purchases 100,000 Shares

Alumis Inc. (NASDAQ:ALMS) Director Srinivas Akkaraju bought 100,000 shares of Alumis stock in a transaction dated Wednesday, December 3rd. The stock was purchased at an average price of $7.75 per share, with a total value of $775,000.00. Following the purchase, the director owned 1,012,849 shares in the company, valued at approximately $7,849,579.75. This represents a 10.95% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Thursday, December 4th, Srinivas Akkaraju purchased 66,027 shares of Alumis stock. The shares were purchased at an average cost of $8.18 per share, for a total transaction of $540,100.86.
• On Tuesday, December 2nd, Srinivas Akkaraju purchased 96,000 shares of Alumis stock. The shares were purchased at an average price of $7.55 per share, for a total transaction of $724,800.00.
• On Monday, December 1st, Srinivas Akkaraju acquired 86,350 shares of Alumis stock. The stock was purchased at an average cost of $7.46 per share, with a total value of $644,171.00.
• On Friday, November 28th, Srinivas Akkaraju acquired 38,702 shares of Alumis stock. The stock was purchased at an average price of $7.64 per share, with a total value of $295,683.28.
• On Wednesday, November 26th, Srinivas Akkaraju bought 48,537 shares of Alumis stock. The shares were purchased at an average cost of $7.64 per share, for a total transaction of $370,822.68.
• On Thursday, November 20th, Srinivas Akkaraju bought 125,743 shares of Alumis stock. The stock was acquired 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 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 purchased 102,652 shares of Alumis stock. The shares were acquired at an average price of $6.05 per share, for a total transaction of $621,044.60.
• On Monday, November 17th, Srinivas Akkaraju acquired 914 shares of Alumis stock. The stock was acquired at an average cost of $5.51 per share, for a total transaction of $5,036.14.
• On Thursday, November 13th, Srinivas Akkaraju acquired 276,179 shares of Alumis stock. The stock was acquired at an average price of $5.25 per share, with a total value of $1,449,939.75.

Alumis Price Performance

Shares of Alumis stock opened at $8.98 on Friday. The firm has a market cap of $937.53 million, a PE ratio of -2.24 and a beta of -1.87. Alumis Inc. has a 1 year low of $2.76 and a 1 year high of $10.49. The stock has a fifty day moving average price of $5.33 and a 200-day moving average price of $4.44.

Alumis (NASDAQ:ALMS) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates 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. As a group, equities analysts anticipate that Alumis Inc. will post -8.51 EPS for the current fiscal year.

Analyst Ratings Changes

ALMS has been the subject of several research analyst reports. Wall Street Zen cut shares of Alumis from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. HC Wainwright reissued a “buy” rating and issued a $14.00 target price on shares of Alumis in a research report on Thursday, August 14th. Weiss Ratings restated a “sell (e+)” rating on shares of Alumis in a research note on Tuesday, November 25th. Finally, Morgan Stanley cut their price target on Alumis from $23.00 to $22.00 and set an “overweight” rating for the company in a research note on Friday, August 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.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.20.

Institutional Trading of Alumis

A number of institutional investors have recently added to or reduced their stakes in ALMS. Corebridge Financial Inc. grew its holdings in Alumis by 53.0% during the 1st 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. Los Angeles Capital Management LLC purchased a new stake in shares of Alumis in the second quarter worth about $368,000. Credit Industriel ET Commercial boosted its position in shares of Alumis by 178.8% in the second quarter. Credit Industriel ET Commercial now owns 387,002 shares of the company’s stock valued at $1,161,000 after acquiring an additional 248,202 shares during the period. Stonepine Capital Management LLC bought a new position in shares of Alumis in the second quarter valued at approximately $1,049,000. Finally, Blair William & Co. IL purchased a new position in Alumis during the second quarter valued at approximately $200,000.

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.