Insider Buying: Alumis (NASDAQ:ALMS) Director Acquires 125,743 Shares of Stock

Alumis Inc. (NASDAQ:ALMS) Director Srinivas Akkaraju purchased 125,743 shares of Alumis stock in a transaction on Thursday, November 20th. The stock was bought at an average cost of $7.20 per share, with a total value of $905,349.60. Following the completion of the acquisition, the director owned 643,260 shares in the company, valued at approximately $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 acquired 137,772 shares of Alumis stock. The stock was bought at an average price 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 stock was bought at an average cost 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 stock was bought at an average price 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, for a total transaction of $1,449,939.75.

Alumis Stock Performance

Shares of NASDAQ:ALMS remained flat at $7.30 during trading on Monday. 1,364,908 shares of the stock were exchanged, compared to its average volume of 717,598. Alumis Inc. has a 12 month low of $2.76 and a 12 month high of $10.49. The stock has a market capitalization of $762.05 million, a PE ratio of -1.80 and a beta of -1.35. The business’s 50 day moving average is $4.77 and its two-hundred day moving average is $4.28.

Alumis (NASDAQ:ALMS) last released its quarterly earnings data on Thursday, November 13th. The company reported ($1.06) EPS 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 analyst estimates of $3.14 million. As a group, research analysts predict that Alumis Inc. will post -8.51 earnings per share for the current year.

Institutional Investors Weigh In On Alumis

A number of institutional investors and hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. lifted its holdings in Alumis by 320.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,419 shares of the company’s stock valued at $26,000 after purchasing an additional 4,894 shares in the last quarter. CWM LLC raised its stake in shares of Alumis by 1,028.7% during the third quarter. CWM LLC now owns 10,384 shares of the company’s stock valued at $41,000 after purchasing an additional 9,464 shares during the period. Kera Capital Partners Inc. purchased a new position in Alumis in the 2nd quarter valued at about $32,000. Corebridge Financial Inc. grew its stake in shares of Alumis by 53.0% during the first quarter. Corebridge Financial Inc. now owns 10,658 shares of the company’s stock valued at $65,000 after acquiring an additional 3,693 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey increased its position in shares of Alumis by 199.7% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 10,753 shares of the company’s stock worth $32,000 after acquiring an additional 7,165 shares during the last quarter.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ALMS shares. Morgan Stanley decreased their price objective on 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 lowered Alumis from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Alumis in a research report on Thursday, November 13th. Finally, HC Wainwright reiterated a “buy” rating and set a $14.00 price target on shares of Alumis in a research report on Thursday, August 14th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.20.

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.