Alumis (NASDAQ:ALMS) Director Srinivas Akkaraju Acquires 96,000 Shares of Stock

Alumis Inc. (NASDAQ:ALMS) Director Srinivas Akkaraju acquired 96,000 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The stock was bought at an average price of $7.55 per share, for a total transaction of $724,800.00. Following the completion of the acquisition, the director owned 912,849 shares in the company, valued at approximately $6,892,009.95. The trade was a 11.75% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, 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 shares were bought at an average cost of $8.18 per share, with a total value of $540,100.86.
• On Wednesday, December 3rd, Srinivas Akkaraju bought 100,000 shares of Alumis stock. The stock was purchased at an average cost of $7.75 per share, for a total transaction of $775,000.00.
• On Monday, December 1st, Srinivas Akkaraju purchased 86,350 shares of Alumis stock. The shares were purchased at an average price of $7.46 per share, for a total transaction of $644,171.00.
• On Friday, November 28th, Srinivas Akkaraju purchased 38,702 shares of Alumis stock. The shares were purchased at an average price of $7.64 per share, with a total value of $295,683.28.
• On Wednesday, November 26th, Srinivas Akkaraju acquired 48,537 shares of Alumis stock. The stock was purchased at an average cost of $7.64 per share, with a total value of $370,822.68.
• On Thursday, November 20th, Srinivas Akkaraju acquired 125,743 shares of Alumis stock. The stock was purchased at an average price of $7.20 per share, for a total transaction of $905,349.60.
• On Wednesday, November 19th, Srinivas Akkaraju bought 137,772 shares of Alumis stock. The shares were purchased at an average cost 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 shares were purchased at an average price of $6.05 per share, with a total value of $621,044.60.
• On Monday, November 17th, Srinivas Akkaraju bought 914 shares of Alumis stock. The stock was purchased at an average cost 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 acquired at an average price of $5.25 per share, for a total transaction of $1,449,939.75.

Alumis Stock Up 8.2%

Alumis stock opened at $8.98 on Friday. The firm has a market cap of $937.53 million, a PE ratio of -2.24 and a beta of -1.87. Alumis Inc. has a 52-week low of $2.76 and a 52-week high of $10.49. The company’s 50 day moving average is $5.33 and its two-hundred day moving average is $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, equities research analysts anticipate that Alumis Inc. will post -8.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alumis

Several hedge funds have recently added to or reduced their stakes in ALMS. Corebridge Financial Inc. lifted its position in shares of Alumis by 53.0% during the 1st quarter. Corebridge Financial Inc. now owns 10,658 shares of the company’s stock worth $65,000 after buying an additional 3,693 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Alumis in the 2nd quarter valued at $368,000. Credit Industriel ET Commercial grew its position in shares of Alumis by 178.8% in the 2nd quarter. Credit Industriel ET Commercial now owns 387,002 shares of the company’s stock valued at $1,161,000 after buying an additional 248,202 shares during the last quarter. Stonepine Capital Management LLC acquired a new stake in Alumis during the 2nd quarter worth $1,049,000. Finally, Blair William & Co. IL purchased a new stake in Alumis in the second quarter valued at $200,000.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Alumis in a research report on Tuesday, November 25th. Wall Street Zen downgraded shares of Alumis from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. HC Wainwright reissued a “buy” rating and issued a $14.00 price objective on shares of Alumis in a research report on Thursday, August 14th. Finally, Morgan Stanley reduced their price objective on shares of Alumis from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Friday, August 15th. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Alumis has a consensus rating of “Moderate Buy” and an average price target 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.