Alumis (NASDAQ:ALMS) Director Srinivas Akkaraju Acquires 102,652 Shares

Alumis Inc. (NASDAQ:ALMS) Director Srinivas Akkaraju purchased 102,652 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The shares were bought at an average price of $6.05 per share, with a total value of $621,044.60. Following the completion of the acquisition, the director owned 379,745 shares of the company’s stock, valued at $2,297,457.25. This trade represents a 37.05% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, 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, for a total transaction of $903,784.32.
• On Monday, November 17th, Srinivas Akkaraju bought 914 shares of Alumis stock. The stock was bought at an average price of $5.51 per share, with a total value of $5,036.14.
• On Thursday, November 13th, Srinivas Akkaraju purchased 276,179 shares of Alumis stock. The shares were purchased at an average cost of $5.25 per share, with a total value of $1,449,939.75.

Alumis Stock Performance

Shares of ALMS opened at $6.57 on Thursday. The firm has a market cap of $683.67 million, a PE ratio of -1.62 and a beta of -1.33. The firm’s 50 day moving average price is $4.61 and its 200 day moving average price is $4.23. Alumis Inc. has a twelve month low of $2.76 and a twelve month high of $10.49.

Alumis (NASDAQ:ALMS) last posted its 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 business had revenue of $2.07 million for the quarter, compared to the consensus estimate of $3.14 million. On average, sell-side analysts anticipate that Alumis Inc. will post -8.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alumis

Hedge funds have recently made changes to their positions in the stock. Orbimed Advisors LLC bought a new position in Alumis during the second quarter valued at about $5,779,000. Velan Capital Investment Management LP acquired a new stake in shares of Alumis during the 2nd quarter worth approximately $4,863,000. Woodline Partners LP increased its position in shares of Alumis by 809.7% during 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. Samsara Biocapital LLC raised its stake in shares of Alumis by 47.0% in the second quarter. Samsara Biocapital LLC now owns 4,801,370 shares of the company’s stock valued at $14,404,000 after purchasing an additional 1,534,872 shares in the last quarter. Finally, Tybourne Capital Management HK Ltd. bought a new position in Alumis in the second quarter worth $4,198,000.

Analyst Ratings Changes

A number of brokerages recently issued reports on ALMS. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alumis in a report on Thursday, November 13th. Wells Fargo & Company assumed coverage on Alumis in a research note on Friday, July 25th. They set an “overweight” rating and a $17.00 price target for the company. Morgan Stanley reduced their target price on Alumis from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Friday, August 15th. HC Wainwright reiterated a “buy” rating and issued a $14.00 target price on shares of Alumis in a research note on Thursday, August 14th. Finally, Wall Street Zen downgraded Alumis from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.