Insider Buying: Alumis (NASDAQ:ALMS) Director Acquires $621,044.60 in Stock

Alumis Inc. (NASDAQ:ALMS) Director Srinivas Akkaraju purchased 102,652 shares of the business’s stock in a transaction on Tuesday, November 18th. The shares were acquired at an average price of $6.05 per share, for a total transaction of $621,044.60. Following the completion of the acquisition, the director directly owned 379,745 shares in the company, valued at approximately $2,297,457.25. This represents a 37.05% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible 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 Monday, November 17th, Srinivas Akkaraju bought 914 shares of Alumis stock. The shares were bought at an average price of $5.51 per share, for a total transaction of $5,036.14.
• On Thursday, November 13th, Srinivas Akkaraju bought 276,179 shares of Alumis stock. The shares were bought at an average cost of $5.25 per share, for a total transaction of $1,449,939.75.

Alumis Trading Up 5.5%

NASDAQ:ALMS opened at $7.30 on Friday. 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 $759.67 million, a price-to-earnings ratio of -1.80 and a beta of -1.33. The firm has a fifty day simple moving average of $4.72 and a two-hundred day simple moving average of $4.27.

Alumis (NASDAQ:ALMS) last announced its quarterly earnings data 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 firm had revenue of $2.07 million for the quarter, compared to analysts’ expectations of $3.14 million. Equities analysts predict that Alumis Inc. will post -8.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alumis

Large investors have recently bought and sold shares of the stock. Samsara Biocapital LLC boosted its holdings in Alumis by 47.0% during the 2nd quarter. Samsara Biocapital LLC now owns 4,801,370 shares of the company’s stock worth $14,404,000 after acquiring an additional 1,534,872 shares during the last quarter. Foresite Capital Management VI LLC lifted its position in shares of Alumis by 1.1% during the second quarter. Foresite Capital Management VI LLC now owns 4,247,670 shares of the company’s stock valued at $12,743,000 after purchasing an additional 45,000 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Alumis by 18.4% during the third quarter. Vanguard Group Inc. now owns 4,029,615 shares of the company’s stock worth $16,078,000 after purchasing an additional 625,404 shares during the last quarter. Trium Capital LLP grew its position in Alumis by 17.9% in the 3rd quarter. Trium Capital LLP now owns 3,122,111 shares of the company’s stock worth $12,457,000 after purchasing an additional 474,072 shares in the last quarter. Finally, Orbimed Advisors LLC purchased a new stake in Alumis in the 2nd quarter valued at about $5,779,000.

Analysts Set New Price Targets

A number of brokerages have commented on ALMS. Wells Fargo & Company assumed coverage on Alumis in a research note on Friday, July 25th. They issued an “overweight” rating and a $17.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $14.00 price target on shares of Alumis in a research report on Thursday, August 14th. Morgan Stanley decreased their price target on shares of Alumis from $23.00 to $22.00 and set an “overweight” rating for the company in a research note on Friday, August 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Alumis in a report on Thursday, November 13th. Finally, Wall Street Zen cut shares of Alumis from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. 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 data from MarketBeat, Alumis has a consensus rating of “Moderate Buy” and an average price target of $19.20.

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.