Insider Buying: Alumis (NASDAQ:ALMS) Director Acquires 100,000 Shares of Stock

Alumis Inc. (NASDAQ:ALMS) Director Srinivas Akkaraju acquired 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was acquired at an average price of $7.75 per share, for a total transaction of $775,000.00. Following the completion of the acquisition, the director directly owned 1,012,849 shares of the company’s stock, valued at $7,849,579.75. The trade was a 10.95% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Thursday, December 4th, Srinivas Akkaraju acquired 66,027 shares of Alumis stock. The stock was bought at an average price 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 stock was bought at an average cost 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 bought at an average price of $7.46 per share, for a total transaction of $644,171.00.
• On Friday, November 28th, Srinivas Akkaraju bought 38,702 shares of Alumis stock. The stock was bought 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 stock was purchased at an average cost of $7.64 per share, for a total transaction of $370,822.68.
• On Thursday, November 20th, Srinivas Akkaraju purchased 125,743 shares of Alumis stock. The shares were purchased at an average price of $7.20 per share, with a total value of $905,349.60.
• On Wednesday, November 19th, Srinivas Akkaraju acquired 137,772 shares of Alumis stock. The stock was purchased at an average price of $6.56 per share, for a total transaction of $903,784.32.
• On Tuesday, November 18th, Srinivas Akkaraju bought 102,652 shares of Alumis stock. The stock was purchased at an average cost of $6.05 per share, with a total value of $621,044.60.
• On Monday, November 17th, Srinivas Akkaraju purchased 914 shares of Alumis stock. The shares were acquired at an average price 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

Alumis stock traded up $0.46 during mid-day trading on Thursday, reaching $8.30. 1,265,947 shares of the company’s stock were exchanged, compared to its average volume of 1,217,871. Alumis Inc. has a twelve month low of $2.76 and a twelve month high of $10.49. The company has a fifty day moving average of $5.33 and a 200-day moving average of $4.44.

Alumis (NASDAQ:ALMS) last released 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 company had revenue of $2.07 million during the quarter, compared to analysts’ expectations of $3.14 million. On average, research analysts expect that Alumis Inc. will post -8.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Alumis in a research note on Tuesday, November 25th. Morgan Stanley cut their target price on Alumis from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Friday, August 15th. HC Wainwright restated a “buy” rating and set 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 report on Saturday, November 15th. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $19.20.

Institutional Investors Weigh In On Alumis

Institutional investors and hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. increased its holdings in shares of Alumis by 320.9% in the third 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 during the period. Kera Capital Partners Inc. purchased a new position in Alumis in the 2nd quarter valued at $32,000. Police & Firemen s Retirement System of New Jersey grew its position in Alumis by 199.7% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 10,753 shares of the company’s stock valued at $32,000 after buying an additional 7,165 shares during the last quarter. New York State Common Retirement Fund increased its stake in Alumis by 173.7% in the 2nd quarter. New York State Common Retirement Fund now owns 11,767 shares of the company’s stock valued at $35,000 after buying an additional 7,467 shares during the period. Finally, Western Wealth Management LLC acquired a new position in Alumis in the 2nd quarter valued at $36,000.

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.