Alumis (NASDAQ:ALMS) Director Srinivas Akkaraju Purchases 440,140 Shares of Stock

Alumis Inc. (NASDAQ:ALMS) Director Srinivas Akkaraju acquired 440,140 shares of the company’s stock in a transaction dated Friday, September 4th. The shares were bought at an average price of $11.17 per share, for a total transaction of $4,916,363.80. Following the acquisition, the director directly owned 4,711,801 shares of the company’s stock, valued at approximately $52,630,817.17. This trade represents a 10.30% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Tuesday, September 8th, Srinivas Akkaraju sold 96,131 shares of Alumis stock. The shares were sold at an average price of $10.55, for a total value of $1,014,182.05.
• On Tuesday, September 8th, Srinivas Akkaraju purchased 546,581 shares of Alumis stock. The stock was acquired at an average cost of $10.63 per share, with a total value of $5,810,156.03.

Alumis Stock Performance

Shares of ALMS opened at $9.80 on Thursday. The stock has a 50 day moving average price of $24.32 and a two-hundred day moving average price of $24.24. Alumis Inc. has a 52 week low of $3.76 and a 52 week high of $31.35. The firm has a market capitalization of $1.27 billion, a P/E ratio of -2.54 and a beta of -0.81.

Alumis (NASDAQ:ALMS) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($1.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.34). Alumis had a negative return on equity of 93.15% and a negative net margin of 5,933.46%.The firm had revenue of $1.66 million during the quarter, compared to the consensus estimate of $3.65 million. On average, equities analysts forecast that Alumis Inc. will post -2.95 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Ieq Capital LLC raised its stake in Alumis by 4.1% in the fourth quarter. Ieq Capital LLC now owns 17,421 shares of the company’s stock worth $170,000 after buying an additional 690 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Alumis in the 2nd quarter worth approximately $33,000. Strs Ohio grew its stake in shares of Alumis by 300.0% in the first quarter. Strs Ohio now owns 2,000 shares of the company’s stock worth $44,000 after acquiring an additional 1,500 shares during the last quarter. ProShare Advisors LLC grew its position in Alumis by 12.4% during the 4th quarter. ProShare Advisors LLC now owns 14,627 shares of the company’s stock valued at $143,000 after purchasing an additional 1,618 shares during the last quarter. Finally, KBC Group NV bought a new stake in shares of Alumis during the first quarter valued at approximately $42,000.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ALMS shares. Chardan Capital increased their price objective on Alumis from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, May 19th. HC Wainwright upgraded shares of Alumis from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $25.00 to $15.00 in a research report on Wednesday, September 2nd. Wells Fargo & Company lowered their target price on shares of Alumis from $51.00 to $25.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 2nd. Morgan Stanley dropped their target price on shares of Alumis from $39.00 to $29.00 and set an “overweight” rating for the company in a research report on Wednesday, September 2nd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Alumis in a report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.27.

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.